Nigerian states generated a sum of N849.12 billion as internally generated revenue (IGR) in the first half of 2021, representing a 38.5% increase compared to N612.87 billion recorded in the corresponding period of 2020.
This is according to the recent data published by the National Bureau of Statistics (NBS). According to the report, the IGR generated by the 36 states of the federation including the federal capital territory also increased by 26% compared to N673.82 billion recorded in the previous period.
Meanwhile, the southwestern part of the country generated the lions share of the total recording an IGR of N385.4 billion in H1 2021 which is 45% of the total recorded in the review period.
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Lagos State recorded the highest IGR in the review period with N267.23 billion accounting for 31% of the total IGR recorded in the period under review.
Tax revenue in the period stood at N675.57 billion which accounts for 80% of the total state IGR in H1 2021.
On the other hand, MDAs revenue for the period was N173.56 billion, representing 20% of the total N849.12 billion IGR recorded between January and June 2021.
In the first quarter of 2021, the internally generated revenue was N398.26 billion while in the second quarter it amounted to N450.86 billion. This shows a 13.21% quarter-on-quarter growth.
Amongst the Internally Generated Revenue categories, PAYE contributed the highest which amounted to N488.1 billion. This was followed by revenue from MDAs which amounted to N173.56 billion. The least category was Road Tax with a contribution of N16.75 billion in the first half of 2021.
Internally Generated Revenue by Zones in the first half of 2021 shows that the South-West zone recorded the highest revenue which amounted to N385.41 billion, followed by the South-South zone with N156.17 billion, while the North-East zone recorded the least internally generated revenue with N42.92 billion. (Nairametrics)
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