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Thirty-six states and the Federal Capital Territory (FCT) received a total of N2.43 trillion as Internally Generated Revenue (IGR) in 2023, indicating a growth rate of 26.03 percent from N1.93 trillion recorded in 2022, according to the latest data released by the National Bureau of Statistics (NBS).
Lagos recorded N815.86 billion IGR over the period, representing 34 percent of the total and the highest of any state. The FCT and Rivers states trailed behind Lagos with N211.10 billion and N195.41 billion respectively over the reference period.
Taraba, Yobe and Kebbi states reported the least revenues with N10.87 billion, N11.19 billion and N11.74 billion respectively. The ratio of total taxes to total IGR stood at about 80 percent nationally.
“PAYE was the most tax revenue recorded during the period (N1.24 trillion), representing 63.83 percent of the total taxes collected, while capital gains tax was the least with N5.91 billion,” the NBS said.(BusinessDay)
