TheCable

The National Bureau of Statistics (NBS) says the 36 states of the federation and the federal capital territory (FCT) recorded N1.92 trillion in internally generated revenue (IGR) in 2022.

According to the IGR report on Monday, compared to the N1.89 trillion IGR recorded in 2021, last year’s figure indicates a sluggish growth of 2 percent year-on-year.

Analysis by TheCable Index shows Lagos state had the highest IGR with N651.15 billion, representing 34 percent of the total IGR in 2022.

When compared to the N753.46 billion generated in 2021, the revenue generated by Lagos state decreased by 14 percent.

Lagos was followed by Rivers with N172.8 billion; FCT with N124.4 billion; Ogun with N120.6 billion; and Delta with N85.9 billion.

Kebbi state, on the other hand, generated the least IGR (N9.15 billion) in 2022, followed by Taraba with N10.23 billion, Yobe with N10.46 billion and Ebonyi with N12.4 billion.

SOUTH-WEST OUTPACES OTHER ZONES

The NBS report shows south-west with N908.25 billion topped other zones to record the highest IGR turnover in 2023; followed by the south-south zone with N377.9  billion.

North-central followed closely with N246.4 billion; north-west generated N186.4 billion; south-east N114.5 billion; and north-east zone closed the year with N92 billion.

Further analysis of the report showed that Lagos state generated 72 percent of the entire IGR of the south-west and 34 percent of Nigeria’s total IGR.

Despite the decrease in Lagos state’s IGR, the state recorded higher IGR (N651.15 billion) compared to the figure generated by the entire northern states (N524.83 billion) and more than that of the south-south and south-east regions (N492.53 billion) combined.