A non-governmental organisation, BudgIT, has said that Lagos State generated the highest internally generated revenue (IGR) in the year 2017.
The organisation made the statement on Tuesday at a conference termed, ‘State of States’, held at the Sheraton Hotels, Abuja.
According to the head of the research team, Mr Atiku Samuel, when making the report, he said the IGR of Lagos State is over N333billion making it the highest generated nationwide.
“Lagos State generated the highest internally generated revenue of over N333billion, while Yobe State, is lowest on the table, generating about N3.5 billion in the year 2017.”
“Considering the population of Lagos State when compared with the IGR, each person is generating N25, 700 monthly for the state, which is above the minimum wage of N18,000. When you compare the total national population with the total internally generated revenue nationwide, you will realise that each person does about N3,000, which is far below the minimum wage.
“Rivers State sits on top of the Fiscal Sustainability Index due to its robust revenue profile and manageable recurrent expenditure obligation. The state’s actual revenue of N209.12 billion in 2017, when juxtaposed with its recurrent expenditure obligation of N141 billion in the same year, indicates Rivers is fiscally stable, and able to cover its recurrent expenditure without borrowing.
According to the report, “Anambra State is the least indebted of all Nigerian States domestically, with about N2.6billion being owed domestically.”
While commending the report, a representative of one of the supporters of BudgIT, Bill and Melinda Gates Foundation, Chisom Okechukwu, said that in order to strengthen the public finance system, citizens must be able to relate with the policy makers.
“BudgIT is doing a good job and we are happy to participate in it. For the public finance system to be strong, we need an avenue where the citizens can relate with their policy makers.
“We have tonnes of resources in Nigeria and we can make a lot of profit out of them if managed well.”
Earlier on, the principal lead of BudgIT, Gabriel Okeowo, had explains that the report was focused on the fiscal and export potentials of the states.
BudgIT is a civic organisation drivel to make the Nigerian budget and public data more understandable and accessible across every literary span. Their primary goal is to use creative technology to intersect civic engagement and institutional reform.
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