By Adedapo Adesanya
Lagos State generated a sum of N753.46 billion, about 39.7 per cent of the total internally generated revenue (IGR) of Nigeria in 2021, according to the latest data on states’ IGR released by the National Bureau of Statistics (NBS).
The total IGR recorded by the 36 states of the federation rose beyond pre-pandemic levels after it dipped in 2020 due to the lockdown measures put in place by the federal government to curb the spread of the pandemic.
The NBS said the states, and the federal capital territory, generated N1.89 trillion as IGR in 2021, about 21.5 per cent higher than the N1.56 trillion recorded in the previous year.
Lagos State also increased its IGR by 14.2 per cent from N659.99 billion recorded in 2020. The disaggregated report shows that N405.1 billion was generated through taxes, while N348.4 billion were from other sources.
While Lagos maintained the top spot, Abuja followed with revenue of N131.92 billion, as Rivers State generated a sum of N123.3 billion as IGR in 2021, accounting for 6.5% of the total internal revenue generated by the state. A sum of N115.7 billion was generated from tax revenue, while N7.61 billion was through other sources.
Other states on the list were Ogun which recorded a N100.73 billion, Delta made N80.2 billion, while Kaduna noted a revenue of N52.9 billion.
In addition, Oyo made N52.1 billion, Edo followed with N42.4 billion, Kano published N40.4 billion, and Akwa Ibom came next with N31.4 billion.
The best-performing state was Sokoto State as it recorded the highest year-on-year increase, growing its revenue by 101.4 per cent to stand at N23.76 billion.
The increase in the state’s revenue is important considering the revenue crisis bedevilling the country’s fiscal policy, as the federal government currently relies heavily on borrowing to fund its expenses.
The result has been touted as an improvement in the power of Nigerian states to make revenue following the impact of the COVID-19 pandemic in 2020, with economic activities fully opened across the country.
