Connect with us
Advertise With Us

COVER STORIES

States Target N1.9trn Internally Generated Revenue In 2018

Published

on


No fewer than 28 states of the federation have proposed to generate over N1.9 trillion internally to fund their 2018 budgets. LEADERSHIP gathered that the budgeted amount is independent of the statutory monthly allocation of the federal government and aids or grants from external bodies

Findings by our correspondent show that the amount is higher than the N931.23 billion realised as Internationally Generated Revenue (IGR) by the 36 states of the federation in the 2017 fiscal year. Expectedly, Lagos State leads the chart with a target of N897 billions of IGR in the 2018 fiscal year, while its N1.4 trillion budget is the second largest in the country and the first budget of the state to cross N1 trillion.

The budget has been passed since February. The state, which prides itself as Nigeria’s centre of commerce is followed by neighbouring Ogun State with N149.258 billion expected internal revenue, representing 43.21 per cent of the total budget. In Rivers State the figure is N132 billion excluding other sources of funding for the budget.

Oyo state puts its expected IGR figure in 2018 at N112.1 billion at a time the State of Osun has expressed strong determination to raise up its IGR to N4.1 billion monthly, taking the expected figure of IGR in 2018 to N49.2 billion.Across the Niger, LEADERSHIP learnt that Kaduna State plans to raise N40.9 billion in 2018 aside from the expected N32 billion from the Federation Account to the state.

On the other hand, Akwa Ibom State will generate N35.496 billion as IGR within the 2018 financial year, while Anambra State plans to raise its IGR this year to N30 billion.In Delta and Kano States, the expected internal revenue to support their budgets are N71 billion and N53.7 billion respectively, just as Kwara State is hoping to generate N38.34 billion, and Bauchi State N13,126,384,230 in the year under review.

Aside Ebonyi State which plans to generate N13.96 billion internally in the 2018 fiscal year, Samuel Benue State is set to rake in a N23.2 billion in the same year.  Kogi State government’s estimated internal revenue for 2018 is pegged at N33.6 billion ahead of Bayelsa andEnugu States’ N24 billion and N30 billion respectively.

Next to the trio is Sokoto State, which is targeting N32.16 billion IGR in 2018, while Plateau State is targeting N21 billion in the same period. In Katsina State, the estimated internal revenue for 2018 is N10.2 billion, while in Niger and Gombe States, the expected revenue is N11billion and N8.5billion.

Jigawa State is planning to raise N10.5 billion above Nasarawa State’s proposed N8.92 billion. There is hope that Borno State’s ‘Budget of ‘Resettlement and Empowerment’ would be partly funded with N16, 075,548 billion expected IGR, a figure that is higher than Taraba State’s N5.3 billion and Yobe State’s N4.5 billion expected IGR for the 2018 fiscal year.

Meanwhile, the National Bureau of Statistics (NBS) at the weekend released data that showed that Internally Generated Revenue of all the states of the federation in the 2017 fiscal year stood at N931.23bn. The figure is higher than the N831.19bn recorded in year 2016. It represents a growth of 12.03 per cent year on year.

The NBS had revealed that the 36 states in Nigeria in 2017 recorded a joint Internally Generated Revenue (IGR) of N931.23 billion, with Lagos accounting for 35.8 per cent of the total figure, while Ebonyi State recorded the highest year on year growth in IGR.

According to the Internally Generated Revenue at state level 2017 report released by the NBS, Ebonyi State grew its IGR in 2017 by 117.88 per cent when compared to what it generated in 2016. Total IGR of the state had grown to N5.1 billion from N2.34 billion made in 2016.

Sokoto State also increased its IGR in 2017 by 98.4 per cent, as it generated N9.01 billion in 2017 as against N4.54 billion which it generated in 2016. Although most states recorded increased IGR in 2017, five states were unfortunate with a declining IGR.

Bauchi State’s IGR regressed the most as what the state generated in 2017 stood at N4.36 billion, which is 49.65 per cent lower than N8.67 it made in the corresponding period of 2016. The IGR of Akwa Ibom State had also dropped by 31.43 per cent to N15.95 billion from N23.26 billion.

The IGR of Osun, Anambra and Taraba States declined by 26.99, 25.37 and 2.23 per cents in 2017 to N6.48 billion, N17.36 billion and N5.76 billion from N8.88 billion, N23.26 billion and N5.89 billion respectively.

As in the past, Lagos State accounted for the largest chunk of the total IGR generated by states in the country, with N333.96 billion, a 10.43 per cent improvement over the N302.42 billion which it generated in 2016.

It was followed by Rivers State, which generated N89.48 billion in 2017, a 4.92 per cent increase compared to N85.28 billion it generated in 2016. Total IGR of the states increased by 12 per cent in 2017 to N931.23 billion as against N831.19 billion generated by the states in 2016.



Copyright LEADERSHIP.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: editor@leadership.ng







Advertisement
Comments

MOST POPULAR