A new report by the National Bureau of Statistics has stated that states generated 3,633,054,718,156.89 (trillion) as internally generated revenue in 2024.

The report said the growth rate of 49.70 per cent from N2.43tr was recorded in 2023.

It stated that Lagos, Rivers, and FCT states recorded the highest IGR with N1.26tr, N317.30bn and N282.36bn respectively over the reference period.

But, Yobe, Ebonyi and Kebbi states reported the least revenues with N11.08bn, N13.18bn and N16.97bn; respectively.

It added that PAYE was the most tax revenue recorded during the period (N1.86 trillion), representing 69.84 percent of the total taxes collected, while capital gains tax was the least with N10.57 billion and total taxes to total IGR stood at about 73.35 percent nationally.

The report stated that figures were compiled by the Joint Tax Board from official records and submissions by the State Boards of Internal Revenue.

It listed other taxes collected with MDAs Revenue accounting for N968.1bn followed by Withholding Tax at N391.5bn then Other Tax contributing N198.4bn; Direct Assessment generating N87bn; Stamp Duties with N52.6bn; LGA Revenue with N39.3bn and Road Tax with N23.9bn. (PUNCH)