Lagos IGR rises by N32.99bn — higher than 33 states put together
The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together.
According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year.
The total IGR from 33 states of the federation, excluding Delta, Ogun and Rivers states, stood at N299 billion — over a billion less than Lagos IGR.
Delta, Ogun and Rivers raked in N44.89 billion, N56.30 billion and N82.10 billion respectively.
Like his predecessors, Bola Tinubu and Babatunde Fashola, Akinwunmi Ambode, governor of Lagos state, has at various times committed himself to the generation of IGR in the state.
The NEITI report, which reviewed disbursements from the Federation Account Allocation Committee (FAAC) for the fourth quarter of 2016, also showed that Lagos received N109 billion in 2016.
The agency lamented low revenue generation across 34 states, citing Lagos and Ogun as the only states generating more than what they get from the central.
“IGR is very low in most states and it is only in two states – Lagos and Ogun – that IGR is higher than FAAC allocations. The figure shows that total revenue by itself cannot fund states budgets,” it said.
NEITI said the three tiers of government shared N5.121 trillion through 2016 — a decline from 2015 figures.
“Total disbursements fell by 14.8% from N6.011 trillion for the year 2015 to N5.121 trillion for the 2016. In Q1 2016, total disbursements were N1.132 trillion as against N1.648 trillion in Q1 2015, a decline of 31.2% in Q1 2016,” NEITI said.
“Total disbursements fell by 26.9% from N1.241 trillion in Q2 2015 to N906 billion in Q2 2016. There was a further decline in Q3 when total disbursements dropped by 7.8% from N1.887 trillion in 2015 to N1.738 trillion 2016.
“However, total disbursements increased in Q4 by 8.8% from N1.233 trillion in 2015 to N1.343 trillion in 2016.”
The report revealed that “the federal government received a total of N2.08 trillion from the federation account in 2016, which represents a drop of 19.9% of the total N2.6 trillion received in 2015.”
The 2016 budget was for N6.06 trillion, implying that at N2.08 trillion, total FAAC disbursements were only 34.3 percent of the budget.
“Thus, the federal government would have to resort to even higher debts to fund the budget. The implication of this is that debt service payments, which accounted for 24.3% of the 2016 budget, would increase.”
That is the power of good and visionary leadership. Should we not concede leadership of Nigeria to these trio?The have surely outperformed the Federal Government beyond calculation. God continue to bless Lagos leaders.
Every lagos state governor is rated as visionary and great and lagos still remains a slum. Tell me any lagos governor that has not been hailed as very good. But common to provide power the best lagos state governor can’t do that now. Theres nothing visionary, they have the population, the ports and all the business that’s why they are on top
@Obum; is very easy to be watching football as a spectator and be condemning players on the FIELD
Your comment..@Obum;Uve made a true n clear point dere….let odas be deceiving themselves,,,,Governor is working,Lagos is moving my foot.
Gbam!!!
@Obum, when you and your likes are tired of Lagos and have expended your hatred, kindly pack your baggage’s and relocate to your erosion infested states. I’m sure they need your service in developing their own region.
Lagos state should be given a special classification. If it amounts to over 33 states put together the senate and the house of representatives should come together and give this extra ordinary state a new status in the country.
That is the result of visionary leadership Lagos State has been renowned for. The best is yet to come. There will soon be a time the Federal Government will be coming cap in hand to burrow from Lagos State if they refuse to imbibe the visionary leadership style of Lagos State Government thinking that mediocre governance style will do the magic. No wonder NNPC is cornering all the revenues that should have accrued to the Federal Government through dubious enormous leakages like those of Andrew Yakubu.
If Lagos does not satisfy you, then go back to your village and make the comparison