The 36 states of Nigeria and the Federal Capital Territory (FCT) collectively generated an impressive N2.43 trillion in Internally Generated Revenue (IGR) for the year 2023, marking a significant 26.03 percent increase from the N1.93 trillion recorded in 2022. This data, released by the National Bureau of Statistics (NBS), highlights the growing financial capabilities of states across the federation.
Lagos State continued to lead the charge in revenue generation, accumulating a remarkable N815.86 billion in IGR. This figure not only surpasses the combined revenue of 18 other states but also exceeds the total IGR generated by the South East, North West, and North East regions of the country. The FCT and Rivers State followed closely behind Lagos in IGR rankings.
In terms of regional performance, the South West emerged as the highest-generating region, contributing N1.12 trillion to the total IGR. The South South region followed with N468.74 billion, while the North Central generated N387.65 billion. The North West, South East, and North East regions generated N206.22 billion, N142.95 billion, and N104.35 billion, respectively.
Conversely, Taraba State recorded the lowest IGR in 2023, with Yobe and Kebbi also among the states generating minimal revenues.
This surge in IGR reflects the increasing efforts by state governments to diversify their revenue streams and reduce reliance on federal allocations. The NBS data underscores the importance of internal revenue generation as a critical component of sustainable economic development in Nigeria.
As states continue to innovate and implement strategies to boost their IGR, the Nigerian economy stands to benefit from enhanced fiscal capacity and improved public services. The complete breakdown of IGR by each state and the FCT is available in the detailed report from the National Bureau of Statistics.
