Report: Lagos’ IGR Surpassed 20 States Combined in 2019
A new report by the Economic Confidential, an intelligence magazine, has indicated that the N398 billion generated as Internally Generated Revenue by Lagos State in 2019 is higher than those of 20 other states put together.
The IGR are generated by states through Pay-AS-You-Earn tax, direct assessment, road taxes and revenues from Ministries, Departments and Agencies . Lagos State remained steadfast in its number one position in IGR with a total revenue generation of N398 billion compared to FAAC allocations of N270 billion.
Also, Cross River State earned N22 billion IGR against FAAC receipts of N99 billion, representing 25 per cent. Top on the list is Katsina, which generated the poorest and lowest IGR compared to its federal allocation in 2019. Others include Bayelsa, with IGR of N16 billion compared to N176 billion of FAAC receipts, representing nine per cent; Yobe with IGR of N8.4 billion compared to N88 billion of FAAC allocations, representing nine per cent and Gombe with IGR of N6.8 billion compared to N75 billion of FAAC allocations, representing 75 per cent within the period under review.
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