New official data shows that the 36 states and the Federal Capital Territory (FCT) in Nigeria saw a massive jump in their own-source revenue last year, collectively generating ₦3.63 trillion.
This figure, known as Internally Generated Revenue (IGR), marks a sharp increase of nearly 50% from the ₦2.43 trillion recorded in 2023.
The report for 2024, released by the National Bureau of Statistics (NBS), highlights a continued trend where a few key areas account for the largest share of the nationwide total.
Once again, Lagos State, Rivers State, and the FCT were the top three revenue generators. Lagos maintained its dominant position, collecting a staggering ₦1.26 trillion by itself. This amount is more than the total IGR of all states just a few years ago.
Rivers State followed in a distant second place with ₦317.3 billion, while the Federal Capital Territory, Abuja, recorded ₦282.36 billion.
The collective IGR of ₦3.63 trillion indicates that states are becoming more successful in generating their own income. This money is crucial for funding local infrastructure projects, education, healthcare, and other public services without relying solely on monthly allocations from the federal government.
The significant 50% year-on-year growth will likely spark discussions on the spending plans of various state governments. Citizens and civil society groups are expected to call for these increased revenues to be reflected in improved public services and development projects.
The full breakdown of each state’s performance can be found in the “2024 State IGR Report” available on the official website of the National Bureau of Statistics.
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