Business

Lagos retains IGR crown, generated over ₦1.2tn in 2024

Photo caption: NBS logo

Photo caption: Lagos State logo

Lagos State kept its crown as Nigeria’s biggest sub-national revenue generator in 2024, as the National Bureau of Statistics released the Internally Generated Revenue at State Level 2024 report.

According to the report, announced on Monday via NBS X handle, 36 states and the Federal Capital Territory together produced ₦3.6 trillion in IGR.

This represents a 49.7 per cent rise from ₦2.43 trillion in 2023.

Top 5 IGR generators

Lagos — ₦1,261,556,415,048.56 (roughly one-third of total IGR).

Rivers — ₦317,303,986,832.38.

FCT — ₦282,364,055,025.74.

Ogun — ₦194,933,884,872.57.

Enugu — ₦180,500,141,598.36.

Bottom five

Adamawa — ₦20,298,222,818.56.

Taraba — ₦17,460,514,087.44.

Kebbi — ₦16,971,704,831.43.

Ebonyi — ₦13,177,829,475.63.

Yobe — ₦11,084,367,202.33.

Full list ranked highest to lowest

Lagos — ₦1,261,556,415,048.56.

Rivers — ₦317,303,986,832.38.

Fct — ₦282,364,055,025.74.

Ogun — ₦194,933,884,872.57.

Enugu — ₦180,500,141,598.36.

Delta — ₦157,785,188,072.55.

Edo — ₦91,153,908,548.19.

Akwa Ibom — ₦75,768,017,871.08.

Kano — ₦74,771,014,335.51.

Kaduna — ₦71,574,658,542.97.

Kwara — ₦71,197,075,565.91.

Bayelsa — ₦64,013,288,202.51.

Jigawa — ₦59,455,563,495.20.

Oyo — ₦65,287,038,267.92.

Osun — ₦54,767,865,323.88.

Cross River — ₦47,018,239,529.33.

Anambra — ₦42,689,648,058.74.

Abia — ₦40,009,340,912.93.

Katsina — ₦39,152,790,613.55.

Bauchi — ₦32,427,554,765.85.

Kogi — ₦32,012,618,177.80.

Niger — ₦34,660,234,106.71.

Ekiti — ₦35,213,748,270.98.

Plateau — ₦31,139,826,680.23.

Ondo — ₦31,251,840,302.79.

Borno — ₦27,803,527,850.21.

Zamfara — ₦25,455,960,759.33.

Imo — ₦25,270,602,765.46.

Nassarawa — ₦25,518,692,329.97.

Gombe — ₦20,724,823,840.00.

Sokoto — ₦20,845,754,441.54.

Benue — ₦20,434,774,732.75.

Adamawa — ₦20,298,222,818.56.

Taraba — ₦17,460,514,087.44.

Kebbi — ₦16,971,704,831.43.

Ebonyi — ₦13,177,829,475.63.

Yobe — ₦11,084,367,202.33.

The IGR calculated has two (2) broad categories of revenues: Tax Revenue and Ministries, Departments and Agencies’ (MDAs’) Revenue.

Taxes include PAYE, Direct assessment, Road taxes, Stamp duties, Capital gain tax, withholding taxes, Other taxes and LGAs’ revenue.

PAYE was the most tax revenue recorded during the period (₦1.86 trillion), representing 69.84 per cent of the total taxes collected, while capital gains tax was the least with ₦10.57 billion.

=== PUNCH ===

 

Related posts

Nigeria’s agric, manufacturing sectors to receive investment offers as Dutch PM visits – Ambassador

Shile GIWA

CBN: N2.10tn disbursed to 426 projects under real Sector facility

Editor

Firm tasks government on business enabling environment

Our Reporter

Expert urges FG to increase FX earnings to stabilise Naira

Editor

Dangote eyes investments in steel production, power and ports development to boost Africa’s industrialisation

Editor

World Water Day: firm commits to providing potable water 

Editor