Monday, March 20, 2023

Half Year Report: States, Abuja record revenue declines: Statistics Office

In the first six months of 2020, Lagos generated the highest income at N204.5 billion; while Jigawa recorded the least at N3 billion, NBS found.

• October 7, 2020
Nigerian Bureau of Statistics (NBS)
Nigerian Bureau of Statistics (NBS) office used to illustrate the story

The internally generated revenue of the 36 states and the Federal Capital Territory declined by nearly 12 percent in the first six months of 2020, the National Bureau of Statistics said.

A report Tuesday by the statistics office said the 36 states collectively generated N612.87bn as IGR between January and June 2020.

The released data showed 11.7 per cent drop by N81 billion from the N693.9bn generated within the same period last year.

With 33.37 percent of the total IGR figure, Lagos generated the highest revenue (N204.5bn) while Jigawa recorded the least (N3bn).

Other top earners were Rivers, N64.59 billion; FCT, N35.2 billion; Delta, N30.8 billion; and Ogun, 23.7 billion. Those at the lower rungs included Yobe, N3.9 billion; Gombe, N3.8 billion; Adamawa, N3.75 billion; and Ekiti, N3.2 billion.

In its second quarter breakdown, the NBS report, which had inputs from the Federal Inland Revenue Service, showed that the states and the FCT generated N259.73 billion, representing a 26.5% decline in revenue.

“Similarly, the second quarter 2020 states and FCT IGR figure hits N259.73 billion compared to N353.14 billion recorded in Q1 2020. This indicates a negative growth of -26.5% quarter-on-quarter”, the report stated.

The report clarified that Nigerian states are in bad financial conditions which may hamper their qualification to take loans from the capital markets. This followed the decision by the Debt Management Office (DMO) to update its borrowing policy to forestall economic crisis on sub-national public debts.

Nigeria has been facing vast shortfalls in revenues since the coronavirus pandemic started forcing down the prices of crude. 

Crude revenues, which fund over 60 percent of the country’s budget, have slumped significantly since the outbreak, with a barrel hovering around $20 before gradually rising to just over $40 as of end of business on Tuesday.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Caleb Muftwang

Hot news Home top

JUST IN: PDP’s Caleb Muftwang wins Plateau governorship election

Election chief Musa Yusuf announced the results in Jos, the state capital, on Monday afternoon.

Teslim Folarin and Seyi Makinde

Politics

Oyo: APC’s Teslim Folarin congratulates Seyi Makinde on re-election

“It is God that Gives Power and Takes Power! May Oyo State and our people continue to prosper,” the APC candidate tweeted.

Nigerian prison

Rights

Abuja trader jailed three months for stealing chickens worth N8,000

The 22-year-old trader was given an option of N10,000 fine and ordered by the court to pay compensation of N45,000 to the complainant.

Kenyan Police making an arrest

Africa

Kenyan police arrest opposition politicians, tear-gas anti-Ruto protesters

Kenyan police fired tear gas and arrested several senior opposition politicians as hundreds protested against President William Ruto.

Nigerian children at borehole tap

NationWide

78 million children risk water-related crisis in Nigeria: UNICEF

The United Nations Children’s Fund (UNICEF) says 78 million children in Nigeria are at risk of three water-related threats.

A photo of Vladimir Putin in Mariupol used to illustrate the story.

World

Russia-Ukraine War: Putin visits captured Ukrainian territory Mariupol

President Vladimir Putin visited Mariupol, a Ukrainian territory now in Russian hands.