Recent report published by the National Bureau of Statistics on Internally Generated Revenue at State Level (2023) revealed thatthe 36 states and the FCT generated a total of N2.43 trillion as Internally Generated Revenue (IGR) in 2023. This represents a growth rate of 26.03 percent from N1.93 trillion recorded in 2022.
• Lagos, FCT, and Rivers states recorded the highest IGR with N815.86 billion, N211.10 billion and N195.41 billion respectively over the reference period.
• Taraba, Yobe and Kebbi states reported the least revenues with N10.87 billion, N11.19 billion and N11.74 billion respectively.
• PAYE was the most tax revenue recorded during the period (N1.24 trillion), representing 63.83 percent of the total taxes collected, while capital gains tax was the least with N5.91 billion.
• Total taxes to total IGR stood at about 80 percent nationally.