THE Internally Generated Revenue (IGR) of the 36 states in Nigeria rose by 28 Percent or N127 billion to N579.49 billion in the first half of 2018 (H1’18) from N453 billion generated in H1’17.
The National Bureau of Statistics (NBS), yesterday, disclosed this in its IGR at the state level, second quarter of 2018 (Q2’18) report, which also showed that 28 states recorded growth in IGR while eight states recorded decline.
As usual, Lagos state led in the size of IGR at N196.4 billion in H1’18, a 17 Percent increase when compared to N168.02 generated in H1’17 while Rivers followed with an IGR of N60.9 billion in H1’18, a 36 Percent rise when compared to N44.74 billion it generated in H1’17.
The eight states that recorded a decline in Q2’18 IGR are Abia (N6.9 billion from N7.95 billion in H1’17), Anambra (N7 billion from N9 billion in H1’17), Benue (N6.1 billion from N7.5 in H1’17) , Taraba (N2.61 billion from N2.98 billion in Q2’17), Kebbi (N2.03 billion from N2.3 billion in H1’17), Kwara (N10.04 billion from N10.7 billion in Q2’17), Ebonyi (N2.5 billion from N3.2 billion in H1’17) and Enugu (N12.3 billion from N12.4 billion in H1’17).
Nigeria’s internet subscription rises to 104m The report further stated: “The net FAAC (Federation Account Allocation Committee) allocation in half-year 2018 is put at N1.23 trillion while the total revenue available to the states is put at N1.74 trillion. “However, the value of foreign debt stands at $4.22 billion while domestic debt hits N3.38 trillion at the end of 2018 half year respectively”.