Data from the National Bureau of Statistics indicate that Nigeria’s 36 states have experienced increase in Internal Generated Revenue (IGR) from N682.67 billion annually to N1.76 trillion over a six-year period (2015 to 2021).
However, upon closer examination, the data reveals varying rates of growth among the different states.
Internal Generated Revenue (IGR) is the revenue generated by a government from its internal sources, as opposed to external sources such as foreign aid or loans.
This is a crucial economic metric used to assess a governor’s performance in their state, as well as to gauge the level of dependence of the state on the federation’s payout.
Furthermore, states with a high IGR are generally seen as more economically viable and attractive to investors.
The state generates from internal sources such as taxes, fees, and other sources.
From 2015 to 2021, the combined IGR growth rate of the 36 states stood at 158.37 percent or N1.8trn.
Checks by Legit.ng show that among the states only 18 states were able to beat the national average in IGR growth rate.
The states with the highest IGR growth rate are:
In terms of revenue growth rate by value, Lagos State is leading the pack due to its stronger economy compared to other states.
Analysis reveals that from 2015 to the most recent figures in 2021, Lagos State increased its revenue from N268.22 billion to N753.46 billion, which translates to a N485.23 billion growth difference.
Here are the other top states with the highest IGR growth rate by value
Lagos – N485.23 billion
Rivers – N123.35 billion
Delta – N80.20 billion
Ogun – N66.1 billion
Kaduna – N52.86 billion
Oyo – N52.09 billion
Kano – N40.40 billion
Akwa Ibom – N31.40 billion
Edo – N23.30 billion
Cross River – N22.91 billion