States realised N2.43trn IGR in 2023 – NBS

Recent report published by the National Bureau of Statistics on Internally Generated Revenue at State Level (2023) revealed that the 36 states and the FCT generated a total of N2.43 trillion as Internally Generated Revenue (IGR) in 2023. This represents a growth rate of 26.03 percent from N1.93 trillion recorded in 2022.

• Lagos, FCT, and Rivers states recorded the highest IGR with N815.86 billion, N211.10 billion and N195.41 billion respectively over the reference period.

Taraba, Yobe and Kebbi states reported the least revenues with N10.87 billion, N11.19 billion and N11.74 billion respectively.

PAYE was the most tax revenue recorded during the period (N1.24 trillion), representing 63.83 percent of the total taxes collected, while capital gains tax was the least with N5.91 billion.

Total taxes to total IGR stood at about 80 percent nationally.