Abuja, Oct. 24, 2023: The National Bureau of Statistics (NBS), says that 36 States and the FCT generated the sum of ₦1,925,612,626,650.76 Internally Generated Revenue (IGR) in 2022.
This was contained in its Internally Generated Revenue At State Level Report for 2022.
The report said the 2022 IGR grew by 1.57 per cent when compared to the ₦1,895,786,762,263.80 recorded in 2021.
The IGR report contained the following key findings which included two major revenue sources namely: Taxes and Ministries, Departments and Agencies’ (MDAs’) revenue.
“Taxes sub-category recorded in this period are Pay As You Earn (PAYE), Direct Assessment, Road Taxes, Stamp duties, Capital gain tax, Withholding taxes, Other taxes and LGAs revenue.”
According to the report: “Similar to what was recorded in 2021, the leading states in total IGR in 2022 were Lagos, Rivers, and the FCT with ₦651,145,633,085.30, ₦172,823,232,535.44, and ₦124,366,774,519.25, respectively.
“While the least three performing states during the year were Kebbi, Taraba, and Yobe with the value of ₦9,146,249,907.83, ₦10,238,110,125.95, and ₦10,456,776,796.18, respectively.”
The report said PAYE was the most contributing revenue source in 2022 with a 67.62 per cent share to the total tax generated revenues nationwide.
The NBS, however, said capital gains tax generated the least in 2022 with a 0.24 per cent share to total tax revenue.
The report said Oyo, Lagos, and Jigawa states led with the highest LGA revenue reported during the year.
“The states recorded ₦11,832,437,020.33, ₦11,505,586,283.35, and ₦8,700,993,591.78, respectively,” the NBS stated.