Business Post Contributor
By Bliss Okperan
Despite the economic headwinds witnessed in Nigeria in 2022, the 36 states of the federation and the Federal Capital Territory (FCT) increased their Internally Generated Revenue (IGR).
New data released by the National Bureau of Statistics (NBS) on Monday revealed that sub-nationals generated an IGR of N1.926 trillion compared with the N1.896 trillion generated in 2021, indicating an improvement of 1.58 per cent.
Recall that last year, the country battled with Naira depreciation, inflation and others, forcing some citizens and organisations to cut down on their spending.
But despite these economic challenges, the 36 states and the FCT earned more from the operations, especially from taxes and fees collected by their agencies.
According to NBS, Lagos, Rivers and the FCT earned N651.2 billion, N172.8 billion and N124.4 billion, respectively from PAYE, direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes, other taxes and LGA revenues.
However, the states with the least IGRs last year were Kebbi, Taraba and Yobe, generating N9.2 billion, N10.2 billion and N10.5 billion apiece.
The report said Oyo, Lagos and Jigawa States were the three leading states with the highest LGA earnings with N11.8 billion, N11.5 billion, and N8.7 billion, respectively.
