The National Bureau of Statistics (NBS) said the 36 states and the Federal Capital Territory (FCT) recorded a 1.6 per cent year-on-year growth in Internally Generated Revenue, IGR, to N1.92 trillion in 2022 from N1.89 trillion in 2021.

The NBS announced this in its report on ‘Internally Generated Revenue At State Level for 2022’.

The 2022 IGR had two major revenue sources: taxes and MDAs’ revenue.

The NBS said the tax sub-categories recorded in the period were Pay As You Earn (PAYE), Direct Assessment, Road Taxes, Stamp duties, Capital gain tax, Withholding taxes, Other taxes and LGAs revenue.

“Similar to what was recorded in 2021, the leading states in total IGR in 2022 were Lagos, Rivers, and the FCT with ₦651,145,633,085.30, ₦172,823,232,535.44, and ₦124,366,774,519.25, respectively,” stated the report. “While the least three performing states during the year were Kebbi, Taraba, and Yobe with the value of ₦9,146,249,907.83, ₦10,238,110,125.95, and ₦10,456,776,796.18, respectively.”

The report said PAYE was the most contributing revenue source in 2022, with a 67.62 per cent share of the total tax-generated revenues nationwide.

The bureau said capital gains tax generated the least in 2022 with a 0.24 per cent share of total tax revenue.

The report said Oyo, Lagos, and Jigawa led with the highest LGA revenue reported during the year, recording ₦11,832,437,020.33, ₦11,505,586,283.35, and ₦8,700,993,591.78, respectively.

(NAN)