Lagos, Rivers lead as Nigeria generated N1.9trn IGR in 2022

The National Bureau of Statistics (NBS) said the 36 states and the Federal Capital Territory (FCT) recorded a 1.6 per cent year-on-year growth in Internally Generated Revenue (IGR) to N1.92 trillion in 2022 from N1.89 trillion in 2021.

The NBS made this known in its report on IGR at state level for 2022 and released on Tuesday, October 24, 2023.

It noted that the 2022 IGR had two major revenue sources – taxes and Ministries, Departments and Agencies (MDAs) revenue.

The bureau said taxes sub-category recorded in the period were Pay As You Earn (PAYE), direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes, other taxes, and LGAs revenue.

The NBS added: “Similar to what was recorded in 2021, the leading states in total IGR in 2022 were Lagos, Rivers, and the FCT with N651,145,633,085.30, N172,823,232,535.44, and N124,366,774,519.25, respectively.

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“While the least three performing states during the year were Kebbi, Taraba, and Yobe with the value of N9,146,249,907.83, N10,238,110,125.95, and N10,456,776,796.18, respectively.”

The NBS said PAYE was the most contributing revenue source in 2022 with a 67.62 per cent share to the total tax generated revenues nationwide.

It stated capital gains tax generated the least in 2022 with a 0.24 per cent share to total tax revenue.

The NBS said Oyo, Lagos, and Jigawa states led with the highest LGA revenue reported during the year.

“The states recorded N11,832,437,020.33, N11,505,586,283.35, and N8,700,993,591.78, respectively,” it added.

The Star