The Federal Capital Territory and Lagos and Rivers States were at the top of high earners in terms of Internally Generated Revenue in 2023.
According to the National Bureau of Statistics, the 36 states and FCT generated N2.43 trillion as Internally Generated Revenue in 2023.
The report, released by NBS on Monday, said the 2023 IGR grew by 26.03 percent when compared to the N1.93 trillion recorded in 2022.
According to the NBS, the 2023 IGR had two major revenue sources: taxes and Ministries, Departments and Agencies revenue.
The report said PAYE was the most contributing revenue source in 2023 at N1.24 trillion, which represented a 63.83 percent share of the total taxes collected nationwide.
The bureau said taxes sub-category recorded in the period are Pay As You Earn, Direct Assessment, Road Taxes, Stamp Duties, Capital Gain Tax, Withholding Taxes, Other Taxes and LGAs Revenue.
According to the report, the leading states in total IGR in 2023 were the FCT and Lagos and Rivers States with N815.86 billion, N211.10 billion and N195.41 billion respectively.
The report said: “The least three performing states during the year were Taraba, Yobe and Kebbi with the value of N10.87 billion, N11.19 billion and N11.74 billion, respectively.”
The report said PAYE was the most contributing revenue source in 2023 at N1.24 trillion, which represented a 63.83 percent share of the total taxes collected nationwide.
The bureau said capital gains tax generated the least in 2023 with N5.91 billion.
The report said total taxes to total IGR stood at about 80 percent nationally.
