Home / BUSINESS / 36 States, FCT Generate N691.11Billion As Revenue In First Half 2019 — NBS

36 States, FCT Generate N691.11Billion As Revenue In First Half 2019 — NBS

The National Bureau of Statistics (NBS), says in the first half of 2019, the 36 states and the Federal Capital Territory (FCT) generated N691.11 billion as Internally Generated Revenue (IGR). The NBS said this in its “IGR at State Level for Quarter One and Quarter Two, 2019” report obtained from its website on Friday in Abuja. It said that compared to N596.91 billion recorded in the second half of 2018, there was an increase of N94.2 billion, indicating a positive growth of 15.78 per cent. The report added that 31 states and the FCT recorded growth in Internaly Generated Revenue (IGR), while five states recorded decline in IGR in the period under review. According to it, the net Federation Accounts Allocation Committee (FAAC) allocation in the first half of the year is put at N1.20 trillion, while the total revenue available to the states including the FCT is put at N1.89 trillion. It, however, said that the value of foreign debt stood at 4.23 billion dollars, while domestic debt hit N3.85 trillion at the end of 2018. The bureau said that the IGR was derived from Ministries, Departments and Agencies’ (MDAs) revenues, Direct Assessment, Pay As You Earn (PAYE), Road Taxes and other Taxes. The data showed that Lagos state led the collection table with N263.25 billion, while Rivers collected N151.8 billion, Delta N145 billion, Akwa Ibom N106.7 billion and FCT N72.8 billion. Bayelsa state generated N71.6 billion, Kano N58.5 billion, Kaduna N54.7 billion, Ogun N48 billion, Edo N47.3 billion, Ondo N47.2 billion, Oyo N42.1 billion, Sokoto N38.8 billion, Benue N38.1 billion, Imo N37.4 billion and Kwara N36.6 billion. Others are Niger state with N36.1 billion, Enugu N35.7 billion, Katsina N35.4 billion, Cross River N33.9 billion, Jigawa N33.9 billion, Bauchi N33.7 billion, Borno N33.6 billion, Abia N33.5 billion, Anambra N32.2 billion and Kogi N31.6 billion. It added that Plateau state generated N30.7 billion, Kebbi N30.3 billion, Adamawa N28.2 billion, Yobe N27.2 billion, Zamfara N27.1 billion, Nasarawa N26.6 billion, Ebonyi N26.5 billion, Taraba N25.7 billion, Ekiti N25 billion, Gombe N21.7 billion and Osun N20.2 billion. The News Agency of Nigeria (NAN), reports that the recorded IGR made by the states excludes the monthly allocation received from FAAC. It also reports that the states IGR data was computed by the NBS and the Joint Tax Board from official records and submissions by the 36 State Boards of Internal Revenue. These submissions were then validated and authenticated by the Joint Tax Board chaired by the Federal Inland Revenue Service. The board has the NBS and the 36 State Boards of Internal Revenue as members. (NAN)

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