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Akwa Ibom ranks ninth on IGR index, generates N30.6bn in 2020

Akwa Ibom State is said to have generated N30.6 billion as Internally Generated Revenue (IGR) last year and is ranked ninth among the 36 states of the federation with Lagos state taking the lead position with a revenue of N418 billion.

It is, however, ranked among the top 10 states on IGR in the country, according to the report.

According to the ranking, Rivers is ranked second with N117 billion IGR in 2020 while the Federal Capital Territory (FCT) comes third while Delta state takes the fourth position with N59.7 billion.

Similarly, Kaduna, Ogun, Oyo and Kano states occupy 5th, 6th, 7th and 8th positions with the annual IGR of N50.76 billion, N50.74 billion, N38 billion and 31.8 billion respectively. Anambra comes 10th with an IGR of N28 billion.

Read also: Northern Nigeria Flour Mills declares N70m profit after tax

The state had proposed an IGR of N52.556 billion in 2020 in its annual estimate and a total of N255 billion from the Derivation Fund from a budget estimate of N597.800 billion for the same year.

Okon Okon, chairman of the state Internal Revenue Service could not be reached for his comments on the IGR but it was gathered that outbreak of COVID-19 had disrupted revenue generation activities in the state in 2020 as most part of the state was on lockdown.

As part of efforts to cushion the effect of the pandemic, the state government last year approved tax holidays for all categories of taxpayers in the state which observers said might have affected the IGR of the state during the period.

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