The National Bureau of Statistics (NBS) recently released the figures for Nigeria’s internally generated revenue (IGR) for the year 2022, painting a comprehensive picture of the revenue landscape across the 36 states including the Federal Capital Territory (FCT).
According to the report, a total of N1.93 trillion was generated, showcasing both top-performing and underperforming states in terms of revenue generation.
Key Highlights of the NBS Report
The report unveiled Lagos, Rivers, and the FCT as the top three states in terms of revenue generation, contributing significantly to the overall IGR with N651.15 billion, N172.89 billion, and N124.4 billion, respectively. On the other end of the spectrum, Kebbi, Taraba, and Yobe emerged as the least-performing states, recording N9.1 billion, N10.2 billion, and N10.5 billion, respectively.
Under the taxes sub-category, the report highlighted the significant role of various revenue sources such as Pay As You Earn (PAYE), direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes, and other taxes, including Local Government Areas (LGAs) revenue.
Revenue Contribution by Different Sources
The report emphasized that PAYE stood out as the most prominent revenue source during the year, accounting for a substantial 67.62 percent share of the total tax-generated revenues nationwide. In contrast, capital gains tax appeared as the least contributor, representing a mere 0.24 percent share of the total tax revenue.
Leading States in LGA Revenue
Notably, the report highlighted Oyo, Lagos, and Jigawa as the three states with the highest LGA revenue reported during the year, recording N11.83 billion, N11.51 billion, and N8.70 billion, respectively.
Breakdown of IGR Across States in 2022
The NBS report presented a comprehensive breakdown of IGR across various states, revealing the financial performance of each. Here is a summary of the top 10 highest and the bottom 10 lowest revenue-generating states in 2022:
Top 10 Highest Revenue-Generating States:
- Lagos – N651.2 billion
- Rivers – N172.8 billion
- FCT – N124.4 billion
- Ogun – N120.6 billion
- Delta – N85.9 billion
- Oyo – N62.2 billion
- Kaduna – N58.1 billion
- Edo – N47.5 billion
- Kano – N42.5 billion
- Kwara – N35.8 billion
Top 10 Least Performing States:
- Benue – N15.9 billion
- Plateau – N15.9 billion
- Bayelsa – N15.9 billion
- Gombe – N13.6 billion
- Adamawa – N13.2 billion
- Katsina – N13 billion
- Ebonyi – N12.4 billion
- Yobe – N10.5 billion
- Taraba – N10.2 billion
- Kebbi – N9.1 billion
