States, FCT IGR dropped first half 2020– NBS

The National Bureau of Statistics NBS has reported that the 36 states and FCT internally generated revenue IGR hits N612.87 billion in the first six months of 2020 compared to N693.91 billion recorded in 2019. It further said that this indicates a negative growth of -11.7 per cent year on year. Similarly, the Q2 2020 states and FCT IGR figure hits N259.73 billion compared to N353.14 billion recorded in Q1 2020. This indicates a negative growth of -26.5% quarter on quarter. 

NBS said Lagos State recorded the highest Internally Generated Revenue (IGR) of N204.51 billion in the first half of 2020. It said the second state with the next highest IGR was Rivers with N64.59 billion, while Jigawa recorded the least IGR with N3 billion.

The NBS said that it computed states IGR data in collaboration with the Joint Tax Board from official records and submissions by the 36 State Boards of Internal Revenue. “These submissions are then validated and authenticated by the Joint Tax Board which is chaired by the Federal Inland Revenue Service and has the NBS and the 36 State Boards of Internal Revenue as members.”