Nigeria IGR decreases by 1.93 per cent to N1.31tr in 2020

Nigeria IGR decreases by 1.93 per cent to N1.31tr in 2020 – The National Bureau of Statistics (NBS) at the weekend announced that the 36 States of the Federation and the Federal Capital Territory (FCT) Internally Generated Revenue (IGR) dipped by 1.93 per cent from N1.33 trillion to N1.31 trillion in fourth quarter (Q4) 2020.

It was a negative growth, according to the Bureau in its data titled “Internally Generated Revenue at State Level (Q4 & fully year 2020)”.

The document revealed Lagos State recorded the highest IGR of N418.99 billion, Rivers N117.19 billion while Yobe recorded the least IGR in the year under review.

Read also: Skye Bank to assist states improve IGR

NBS said: “The 36 states and FCT IGR figure hits N1.31trn in 2020 compared to N1.33trn recorded in 2019.This indicates a negative growth of-1.93 per cent year on year.

“Lagos state has the highest Internally Generated Revenue with N418.99bn recorded, closely followed by Rivers with N117.19 bn while Yobe State recorded the least Internally Generated revenue”.

The document noted that similarly, the Q4 2020 states and FCT IGR figure hits N335.25 billion compared to N338.57 billion recorded in Q3 2020.

NBS said “This indicates a negative growth of-0.98 per cent quarter on quarter”.