Top 10 states with highest internally generated revenues (list)

Apart from the monthly allocations received from the federal government, states in Nigeria also meet their financial needs from Internally Generated Revenues (IGR), that is, the revenues they generated in their respective territories.

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While some states with strong economic power have huge internally generated revenues to meet their needs, others have low revenues which make it difficult for them to meet their needs without the federal allocations.

A report by BudgIT Nigeria, a civic tech organisation, raising the standards of transparency, citizen engagement and accountability in public finance, shows the top 10 states with the highest revenues in 2019.

The report tagged State of States sourced its data in part from the National Bureau of Statistics (NBS).

Legit.ng lists the top 10 states with the "year-on-year most improved" internally generated revenues from the report:

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1. Rivers (N27,618,370,390)

2. Lagos (N16,550,697,866)

3. Kaduna (N15,510,189,659)

4. Enugu (N8,923,529,697)

5. Akwa Ibom (N8,080,204,669)

6. Kwara (N7,599,787,113)

7. Osun (N7,540,730,845)

8. Zamfara (N7,209,347,808)

9. Anambra (N7,063,928,218)

10. Benue (N6,634,997,664)

Earlier, Legit.ng highlighted 10 states that are least dependent on the federal allocation, according to The Cable Index which cited 2019 data from the National Bureau of Statistics (NBS).

Some of the states listed in the report are Lagos, Ogun, FCT, Rivers, and Osun.

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In another report, the Nigerian government at all levels, the federal, states and local governments shared N604.004bn as federation allocation revenue for the month of October 2020.

The Federation Accounts Allocation Committee (FAAC) announced the figure after its meeting on Wednesday, November 18.

The meeting was chaired by the Permanent Secretary of the Federal Ministry of Finance, Budget and National Planning, Aliyu Ahmed.

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Source: Legit.ng