BusinessDay
Nigeria's leading finance and market intelligence news report.

36 states, FCT total generate N3.807 trn revenues in 2019

......but FAAC disbursements represent 65% of total incomes

The total revenue generated by the 36 states and the Federal Capital Territory (FCT) for the year 2019 stood at N3.807trillion, according to figures released by the National Bureau of Statistics (NBS).

This comprised both Internally Generated Revenue (IGR) at N1.33 trillion and Federation Accounts Allocation Committee ( FAAC) disbursements put at N2.473 trillion, representing as much as 65% of their total revenues for the year.

The total IGR for the 36 states and the FCT indicates a 20.92percent growth compared to N1.17trn recorded in 2018, the National Bureau of Statistics data reveals.

A breakdown of the IGR quarterly shows that a total N346.20 billion was generated by states and FCT in Q4, as against N294.11bn recorded in Q3
2019.

Similarly, the total IGR for second quarter stood at N391.31 billion as against N302.59 billion in first quarter 2019.

Lagos state has the highest Internally Generated Revenue for the 2019 fiscal year with N398.73bn recorded, closely followed by Rivers with N140.40bn while Taraba State recorded the least Internally Generated revenue with 6.5 billion.

Similarly states with the highest FAAC disbursement are Delta state, Akwa Ibom and Rivers with N219 billion, N171 billion and N158 billion respectively.

While Osun, Cross river, and Gombe had the lowest FAAC disbursement in 2019 with N24 billion, 36 billion and 41 billion respectively.

Get real time updates directly on you device, subscribe now.

Comments are closed.