Tags : IGR

Nigeria States Generate N1.23tn As IGR In 2021

According to data from the States’ Internally Generated Revenue, Nigerians across 36 states of the federation paid N1.23 trillion in taxes in 2021. This is a 19.19 per cent increase from the N1.03 trillion paid in 2020. This is according to a report by the National Bureau of Statistics which said that tax revenues accounted […]Read More

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Within Five Years, Almost All Depended On FAAC

Between 2016 and 2020, the 36 states in Nigeria earned N5.30 trillion. The states also got N10.19 trillion from the Federation Accounts Allocation Committee and borrowed N1.84 trillion from domestic sources. These figures are according to data from National Bureau of Statistics through analyses of IGR and FAAC data from… You must be registered to […]Read More

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Explainer: VAT War Might Crush States Revenue

Value Added Tax, according to the Federal Inland Revenue Service, is a consumption tax paid when goods are purchased and services rendered. It is borne by the final consumer; that is all goods and services, both produced within or imported into the country, are taxable- except those exempted by the… You must be registered to […]Read More

States’ IGRs Shrink By 22% In Two Years

The aggregate internally generated revenue of the 36 states in the country and the Federal Capital Territory Administration fell by 37 billion in two years. This is according to data obtained from the National Bureau of Statistics. As of the end of 2018, states’ IGR stood at N1.68 trillion, while by the end of 2020, […]Read More

Borno Generates N8.02bn In Five Months

Between January and May this year, the Borno Internal Revenue Service (BO-IRS) generated N8.02 billion. BO-IRS Chairman Mohammed Alkali, who disclosed this, said the figure was the “highest revenue ever generated by the service in history for January-May.” Earlier in April, the service disclosed that it “collected N4,296,859,669.2 between January and March 2021 despite the […]Read More

Nigerian States Generate N1.31 Trillion IGR

The state IGR report released by the National Bureau of Statistics revealed that the 36 states and Federal Capital Territory generated a sum of N1.31 trillion as Internally generated revenue in 2020.  The report stated that states’ IGR declined by 1.93 percent from N1.33 trillion, recorded in 2019 to N1.31 trillion in 2020. It however […]Read More

IGR: Only Three States Fiscally Sustainable

Following the release of the Internally Generated Revenue by states, the report has shown that only Lagos, the Federal Capital Territory (FCT) and Ogun State are fiscally sustainable. According to the ‘Internally Generated Revenue At State Level – Q4 and full-year 2020 report‘ released by the National Bureau of Statistics (NBS), the 36 states of […]Read More

FAAC: Lagos State Still Self Sufficient

The economy of Lagos is very crucial to the Nigerian economy serving as the commercial capital of the country over the years. The Lagos Gross Domestic Product [GDP] accounts for 26.7% of Nigeria’s total GDP and more than 50% of non-oil GDP. Over 50% of Nigeria’s non-oil industrial capacity is located in Lagos. Ranking among […]Read More