Lagos Generates 1/3 of N579bn Earned by States, FCT in First Half of 2018

National Bureau of Statistics has published the Internally Generated Revenue (IGR) at the state level for the first half of 2018, saying the combined IGR for all the 36 states of the federation and the Federal Capital Territory (FCT) grew from N453.83 billion in the corresponding period in 2017 to N579.49 billion. 

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NBS said this indicated a growth of 27.7 per cent year on year, with Lagos alone generating about one third of the IGR earned by all the 36 states and the FCT.

  

Twenty-eight (28) States recorded growth in IGR while eight states, including Abia, Anambra, Benue, Taraba, Kebbi, Kwara, Ebonyi and Enugu, recorded a decline at the end of 2018 Half Year. Lagos generated the highest IGR of N196.4 billion followed by Rivers which generated N60.9 billion and Ogun which raked in N42.5 billion. 

NBS also disclosed that the net Federal Account Allocation Committee (FAAC) allocation in half year 2018 stands at N1.23 trillion while the total revenue available to the states is N1.74 trillion. 

Also, the value of foreign debt stands at $4.22 billion, while domestic debt hits N3.38 trillion at the end of the first half of 2018.