Nigeria’s IGR Rises 26% as 36 States and FCT Generate N2.43 Trillion in 2023

The National Bureau of Statistics (NBS) has announced that Nigeria’s 36 states and the federal capital territory (FCT) generated a total of N2.43 trillion in internally generated revenue (IGR) in 2023, reflecting a 26.5% increase from the N1.92 trillion recorded in 2022.

According to the report released on Monday, Lagos State topped the IGR rankings with N815.86 billion, accounting for 33.6% of the nation’s total IGR for 2023. This figure represents a 25% growth from Lagos’ N651.15 billion in 2022.

Other leading states in revenue generation include the FCT with N211.10 billion, Rivers with N195.41 billion, Ogun with N146.87 billion, and Delta with N90.91 billion.

On the lower end, the states with the least IGR were Taraba (N10.86 billion), Yobe (N11.19 billion), Kebbi (N11.73 billion), and Gombe (N15.17 billion).

The South-West zone emerged as the top contributor by region, generating N1.1 trillion, with Lagos alone making up 73% of this total.

The South-South zone followed with N468.7 billion, while the South-East recorded N142.9 billion, and the North-Central generated N387.6 billion. The North-West zone reported N206.2 billion, and the North-East had the lowest regional revenue at N104.3 billion.

The NBS emphasized that IGR includes revenues from taxes and various ministries, departments, and agencies (MDAs).

This increasing revenue base highlights the economic disparities among Nigeria’s regions, with Lagos and the South-West significantly leading in IGR contributions.