The 36 states of the federation and the Federal Capital Territory (FCT) recorded a total internally generated revenue of N612.87 billion in the first half of 2020.
This is N81.04 billion lower than the first half 2019 figures of N693.91 billion. The record for H1 2020 indicates a negative growth of 11.7 per cent year on year.
Similarly, the Q2 2020 Revenue at state level H1 states and FCT IGR figure of posted on the NBS website N259.73 billion is N93.41 billion lower when compared to the N353.14 billion recorded in Q1 titled ‘Internally Generated 2020, yesterday.
According to the report, indicating a negative growth of -26.5 per cent quarter on quarter, according to the report ‘Internal Generated Revenue at State level H1 2020,’ Lagos State has the highest internally generated revenue with N204.51 billion recorded, closely followed by Revenue State with N64.59 billion.
Jigawa State recorded the least internally generated revenue for the first half of
2020. It recorded a total IGR of N3.005,628 billion in the period under study.
The state received N26.861billion from federation account as statutory transfer in the same H1 2020.
Lagos, which had the highest internally generated revenue got N50 billion
from the Federation Account Allocation Committee for the H1, while Rivers got a total of N75 billion from the federation account.
The NBS said that it computed states IGR data in col- laboration with the Joint Tax Board from official records and submissions by the 36 State Boards of Internal Revenue.
“These submissions are then validated and authenticated by the Joint Tax Board which is chaired by the Federal Inland Revenue Service and has the NBS and the 36 State Boards of Internal Revenue as members,” NBS said
By MARK ITSIBOR and KEHINDE SALLAH