Finance & EconomyNews

N849.12bn Generated as IGR in H1 2021

The National Bureau of Statistics published the Internally Generated Revenue (IGR) Report at the State level for Half Year (H1) 2021. The Internally Generated Revenue Report is sub-headed under five categories: PAYE, Direct Assessment, Road Taxes, Other Taxes, and revenue from Ministries, Departments, and Agencies (MDAs).

The 36 States and FCT Internally Generated Revenue amounted to N849,123,384,003.55 billion in H1 2021. In the first quarter of 2021, the internally generated revenue was N398,259,343,434.98 billion while in the second quarter it amounted to N450,864,040,568.57 billion. This indicates a positive growth of 13.21%.

Lagos state has the highest Internally Generated Revenue with N267,232,774,434.06 billion in H1 2021, followed by FCT with N69,072,879,664.43 billion and Rivers state with N57,324,672,372.42 billion. While Yobe state with N4,031,033,046.55 billion recorded the least.

Internally Generated Revenue by Zones in the first half of 2021 shows that the South-West zone recorded the highest revenue which amounted to N385,414,274,922.27 billion followed by the South-South zone with N156,171,326,501.04 billion, while the North-East zone recorded the least internally generated revenue with N42,915,002,928.39 billion.

Amongst the Internally Generated Revenue categories, PAYE contributed the highest which amounted to N488,106,692,662.06 billion, this was followed by revenue from MDAs which amounted to N173,555,639,556.76 billion. The least category was Road Tax with a contribution of N16,752,826,313.01 billion in the first half of 2021.

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