A recent report published by the National Bureau of Statistics on Internally Generated Revenue at State Level (2023) revealed that the 36 states and the FCT generated a total of N2.43 trillion as Internally Generated Revenue (IGR) in 2023. This represents a growth rate of 26.03 percent from N1.93 trillion recorded in 2022.
Key highlights of the report include:
- Highest IGR States:
- Lagos: N815.86 billion
- FCT: N211.10 billion
- Rivers: N195.41 billion
- Lowest IGR States:
- Taraba: N10.87 billion
- Yobe: N11.19 billion
- Kebbi: N11.74 billion
- Tax Revenue Composition:
- PAYE (Pay-As-You-Earn) was the highest tax revenue source, amounting to N1.24 trillion, which represents 63.83 percent of the total taxes collected.
- Capital gains tax was the least, totaling N5.91 billion.
- Tax Revenue Proportion:
- Total taxes accounted for approximately 80 percent of the total IGR nationally.
