36 States, FCT record N849bn revenue in 1H 2021
The 36 states of the Federation and the Federal Capital Territory in the first 6 months of 2021 generated a total sum of N849.1bn as Internally Generated Revenue, up from about N680 billion recorded in the second half of 2020.
According to the latest National Bureau of Statistics IGR Report, in the first quarter of 2021, the internally generated revenue was N398,259,343,434.98 billion while in the second quarter it amounted to N450,864,040,568.57 billion.
Details of the report showed that Lagos topped the list of states with the highest revenue with N267.23billion in the period.
This was followed by FCT with N69.07billion and Rivers state with N57.32billion.
Yobe state recorded the least revenue with N4.03 billion recorded the least IGR.
“In the first quarter of 2021, the internally generated revenue was N398,259,343,434.98 billion while in the second quarter it amounted to N450,864,040,568.57 billion.
”This indicates a positive growth of 13.21 percent. Lagos state has the highest Internally Generated Revenue with N267,232,774,434.06 billion in H1 2021, followed by FCT with N69,072,879,664.43 billion and Rivers state with N57,324,672,372.42 billion. Yobe state with N4,031,033,046.55 billion recorded the least,” it stated.
IGR by Zones in the period shows that the South-West zone recorded the highest revenue which amounted to N385.41bn, followed by the South-South zone with N156.17bn, while the North-East zone recorded the least internally generated revenue with N42.91bn.
Amongst the Internally Generated Revenue categories, PAYE contributed the highest which amounted to N488,106,692,662.06 billion.
This was followed by revenue from MDAs which amounted to N173,555,639,556.76 billion. The least category was Road Tax with a contribution of N16,752,826,313.01 billion in the first half of 2021.