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Internally generated revenue (IGR) by states in Nigeria reached N931.23 billion in 2017, the highest so far since 2010, according to data from Nigerian Bureau of Statistics (NBS).
This figure represents a 12.04 percent increase from the N831.19 billion that was generated in 2016 (year-on year).
According to National bureau of statistics, thirty-one states recorded growth in IGR while five (5) states which includes Akwa Ibom, Anambra, Bauchi, Osun and Taraba recorded a decline at the end of 2017 Fiscal Year.
Lagos, Rivers, Ogun, delta and Kano generated the highest revenue with an IGR of 333.97 billion, 89.48 billion, 74.83 billion, 51.89 billion and 42.4 billion respectively. While Yobe, Bauchi, kebbi , Ekiti, and Ebony generated the least with an IGR of 3.6, 4.37, 4.39, 4.97 and 5.1 in billions.
In 2015, internally generated revenue shrunk 3.4 percent to N683.6 billion from the N707.8 billion state recorded in 2014.
At the end of half year 2017, total revenue generated by states was put at N432.65bn as against N409.09bn that was generated in the first half (H1) of 2017.
The net Federation Account Allocation Committee (FAAC) in year 2017 was put at N1.73 trillion while the total revenue available to the states was N2.67 trillion.
However, the value of foreign debt stands at $19.9bn while domestic debt hits N3.35 trillion at the end of 2017 full year respectively
