Lagos, Rivers, FCT lead as IGR rises 49% to N3.63 trn 

By Elizabeth Adegbesan

Lagos, Rivers and the Federal Capital Territory,  FCT States  took the pb arsenic Internally Generated Revenue (IGR) successful 2024 grew year-on-year, YoY,  by 49.7 percent to N3.63 trillion successful 2024 from N2.43 trillion successful 2023.

According to the caller National Bureau of Statistics, NBS,  IGR 2024 report, Lagos, Rivers, and FCT states recorded IGRs of N1.26 trillion, N317.30 cardinal and N282.36 billion; respectively.

“The 36 states and the FCT generated a full of N3.63 trillion arsenic IGR successful 2024 indicating a maturation complaint of 49.70 percent from N2.43 trillion recorded successful 2023.

“Lagos, Rivers, and FCT states recorded the highest IGR with N1.26 trillion, N317.30 cardinal and N282.36 billion; respectively implicit the notation period.

“However, Yobe, Ebonyi and Kebbi states reported the slightest revenues with N11.08 billion, N13.18 cardinal and N16.97 billion, respectively.”

NBS noted that the report  has 2 (2) wide categories of revenues; Tax Revenue and Ministries, Departments and Agencies’ (MDAs’) Revenue.

The taxes see Pay As You Earn, PAYE, Direct assessment, Road taxes, Stamp duties, Capital summation tax, Withholding taxes, Other taxes and Local Government Areas, LGAs, revenue.

“PAYE was the astir taxation gross recorded during the play (N1.86 trillion), representing 69.84 percent of the full taxes collected, portion superior gains taxation was the slightest with N10.57 billion. Total taxes to full IGR stood astatine astir 73.35 percent nationally.”

The station Lagos, Rivers, FCT pb arsenic IGR rises 49% to N3.63 trn  appeared archetypal connected Vanguard News.