The Federal Capital Territory Internal Revenue Service (FCT-IRS) has achieved a significant milestone by collecting a total of N252.83 billion in Internally Generated Revenue (IGR) for 2024. Eko Hot Blog reports that this figure not only exceeds the N250.2 billion target for the year by 101% but also represents a 19.8% increase from the N211.1 … Read more
The Federal Government, through the National Bureau of Statistics (NBS), announced that road tax collections across Nigeria surged to N40.14 billion in 2023, marking a 63.36% increase from the N24.57 billion collected in 2022. This sharp rise in revenue highlights the growing contribution of road taxes to state-level funding. EDITOR’S PICKS NASU, SSANU Strike Nears … Read more
IGR: Ogun Govt. Seeks Support of LGs This is just as the State government reiterated that it would not undermine the autonomy of the local government administration. By Ademola Orunbon EDITOR’S PICK 2023: I’ll Replace Sharing Formula With Production Formula — Peter Obi [JUST IN] 2023: Buhari’s Aide Confirms Jonathan Now APC Member ‘I’m Forced … Read more
Lagos FCT Rivers among leading states in Nigeria with highest IGR per population as 2021 half-year IGR reaches N849.12bn … Lagos generated IGR of N267.2 billion is more than what the entire northern states generated and more than south-south and south-east put together. EKO HOT BLOG reports that the National Bureau of Statistics (NBS) says … Read more
Pay-As-You-Earn (PAYE) contributed the highest amount to the states with ₦488bn… EKO HOT BLOG reports that Lagos State recorded the highest Internally Generated Revenue (IGR) with ₦267bn, according to a report published by the National Bureau of Statistics (NBS). It was followed by the FCT with ₦69bn and Rivers, ₦57bn. Yobe State had the least … Read more
The Internally Generated Revenue (IGR) in Osun State has increased from N13.8 billion to N19.6 billion, the Auditor-General of the state, Folorunso Adesina, has said. According to Adesina, the state in 2018 generated N13.8 billion; N17.7 billion in 2019 and N19.6 billion in 2020 despite COVID-19 that affected the economy of the nation. The Auditor-General … Read more
Three out of the 36 states of the country which include, Lagos, Rivers and Delta and the Federal Capital Territory (FCT) generated 54.7 per cent of the N612.9 billion states raised as internally generated revenues (IGRs) in the first half of the year. According to a report released by the National Bureau of Statistics (NBS), … Read more
By IfeanyiChukwu Afuba This is not a time to envy leadership in Nigeria’s 36 States. After twenty years of fourth republic democracy, the country still operates a military era revenue formula that allocates a hefty fifty-two percent of national earnings to the federal government and pittance of twenty-six percent to States, the centres of development. … Read more
Economic Confidential, a publication of PRNigeria, on Sunday, released its Annual States Viability Index (ASVI). The report shows that 7 states, led by Katsina, are insolvent as their Internally Generated Revenue (IGR) in 2019 were below 10 percent of their total federal allocation in the same year. IGR is generated through Pay-As-You-Earn Tax (PAYE), direct … Read more
The Governors elected under the Peoples Democratic Party PDP held a meeting to deliberate the ways in which the state could increase their Internally Generated Revenue IGR. The meeting which took place in Abuja on Wednesday was attended by the governors on the party’s platform and other big ranking members of the party. Also Read: … Read more
– Lagos state commissioner for finance, enjoined banks to complement the State’s IGR efforts by constantly coming up with creative ways of supporting revenue collection in Lagos Lagos State Commissioner for Finance, Dr. Rabiu Olowo has implored bankers to deepen innovative ideas and deploy digital solutions to support the present administration’s drive to grow Internally … Read more