Lagos Leads as Nigeria’s States, FCT Generate 2.43trn in IGR
Thirty-six states and the Federal Capital Territory (FCT) collectively generated N2.43 trillion in Internally Generated Revenue (IGR) in 2023, marking a 26.03% increase from N1.93 trillion in 2022, as per data from the National Bureau of Statistics (NBS).
Lagos emerged as the top revenue generator, contributing N815.86 billion, which represents 34% of the total national IGR. Following Lagos were the FCT with N211.10 billion and Rivers State at N195.41 billion. In contrast, Taraba, Yobe, and Kebbi states reported the lowest IGRs at N10.87 billion, N11.19 billion, and N11.74 billion, respectively.
The report showed that taxation accounted for roughly 80% of IGR nationwide. Of this, Pay-As-You-Earn (PAYE) tax was the largest contributor, generating N1.24 trillion, which constituted 63.83% of total taxes. In contrast, capital gains tax contributed the least at N5.91 billion.
The NBS highlighted the significance of PAYE as a consistent revenue stream, showcasing its central role in state earnings. Olu of Warri Dissolves Itsekiri Youth Council’s Executive
