States, FCT internally generated revenue hits N849bn a 13.2% increase

National Bureau of Statistics has said that the 36 States and FCT Internally Generated Revenue amounted to N849,123,384,003.55 billion in the first six months of 2021. This it said indicates a positive growth of 13.21 per cent. The Internally Generated Revenue Report according to NBS is sub-headed under five categories, PAYE, Direct Assessment, Road Taxes, Other Taxes and revenue from Ministries, Departments and Agencies (MDAs). NBS in its fresh data said “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. Lagos state has the highest Internally Generated Revenue with N267,232,774,434.06 billion during the period, followed by FCT with N69,072,879,664.43 billion and Rivers state with N57,324,672,372.42 billion. While Yobe state with N4,031,033,046.55 billion recorded the least”.

NBS report further said “Internally Generated Revenue by Zones in the first half of 2021 shows that the South-West zone recorded the highest revenue which amounted to N385,414,274,922.27 billion followed by the South-South zone with N156,171,326,501.04 billion, while the North-East zone recorded the least internally generated revenue with N42,915,002,928.39 billion.  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.Internally Generated Revenue by Zones in the first half of 2021 shows that the South-West zone recorded the highest revenue which amounted to N385.41 billion, followed by the South-South zone with N156.17 billion, while the while the North-East zone recorded the least internally generated revenue with N42.92 billion.