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Home Economy Economic Data

Only 4 States Generated Internal Revenue Greater Than its Federation Account Allocation in 2019

Lagos generates more IGR than 26 bottom states, and the Top 5 States behind it

Saturday, 23 May 2020, 12:49 am
in Economic Data, Economy
0
Only 4 States Generated Internal Revenue Greater Than its Federation Account Allocation in 2019
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The Q4 2019 & Full Year 2019 report on Internally Generated Revenue at State level released by the National Bureau of Statics, and seen by Investogist, shows that total IGR figures for the 36 states and FCT grew by 20.92% year on year.

The total IGR for all states and FCT was N1.33trn in 2019, compared to N1.17trn recorded in 2018.

Read also; States and LGAs Federal Allocations in April Drop by Over 50%

The IGR by individual states when compared to the allocation they received from the Federal Accounts Allocation Committee can be used to make the case that a majority of the states in the country are not viable and cannot function without the FAAC monies.

Fig 1: Table of 2019 Revenue mix per State

Fig 2: IGR-FAAC-Total Revenue for Each State and FCT

The Internal Generated Revenue comes from the following;

MDAs Revenue: These relate to revenues generated administratively by State MDAs during the course of providing various services to residents in the State.

Other Taxes: These include various taxes Such as levies on market traders, land registration and other land related fees, development levies on individuals, pool betting/lottery/gaming fees, stamp duties on individuals etc.

Road Taxes: Road taxes are daily levies paid by commercial transporters operating within the states

Direct Assessment: This may relate to a form of personal income tax used to assess tax for self employed individuals. With the self assessed tax, a new tax payer can assess him/herself, and pay the calculated amount. Direct assessment may also relate to those imposed on businesses especially (informal) by the state authorities based on the size of their activities.

PAYE: Pay As You Earn is a form of personal income tax that refers to tax deducted directly from the wages and salaries of employees operating in the formal sector. All employers in Nigeria are responsible for deducting Pay As You Earn (PAYE) taxes from their employees’ earnings.

Written by,

Nnamdi M.

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