RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Economics

Lagos State and The South West Records Highest IGR For H1

Rate Captain by Rate Captain
November 10, 2021
in Economics
Reading Time: 4 mins read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

According to the National Bureau of Statistics, States in Nigeria generated a sum total of N849,123 billion Naira as internally generated revenue (IGR) for the first half of the year 2021. Data from the NBS reveals that IGR increased  from N398 billion to N450 billion representing a 13.2% increase from quarter 1 (Q1) 2021 to quarter 2 (Q2) 2021.

Total tax revenue also grew by 5%, rising from N328 billion to N346 billion. The total tax consists of PAYE, direct assessment, Road tax and other taxes. Furthermore, Lagos State recorded the highest IGR value of N385.4 billion in H₁ representing a 45% contribution to total internally generated revenue

Focal Points

  • Lagos state registered the highest figure for internally generated revenue(IGR) of N267,232,774,434.06 for the first half of the year.

  • Revenue from Tax was valued at N675,567,744,446.79 06 for the first half of the year.

  • MDA’s revenue was quoted at N173.56 billion, which is a 20%.

 

Half Year
States Internal Revenue
Abia 7,550,111,804.51
Adamawa 6,086,576,008.62
Akwa Ibom 18,094,550,401.76
Anambra 12,773,155,358.13
Bauchi 9,467,289,020.25
Bayelsa 6,415,292,830.28
Benue 6,707,577,748.68
Borno 9,810,950,373.72
Cross River 14,758,185,490.50
Delta 41,934,182,750.80
Ebonyi 7,753,332,246.04
Edo 17,644,442,655.28
Ekiti 6,588,391,065.65
Enugu 14,140,554,676.00
Gombe 5,441,036,136.73
Imo 9,991,279,692.29
Jigawa 9,327,730,762.30
Kaduna 26,429,424,219.47
Kano 15,054,248,572.67
Katsina 7,488,763,752.00
Kebbi 7,334,953,729.18
Kogi 9,613,667,379.00
Kwara 15,978,612,886.36
Lagos 267,232,774,434.06
Nasarawa 9,503,511,172.35
Niger 7,925,484,600.86
Ogun 54,823,454,372.03
Ondo 17,908,118,155.96
Osun 13,669,823,438.82
Oyo 25,191,713,455.75
Plateau 14,465,349,448.60
Rivers 57,324,672,372.42
Sokoto 8,411,485,977.36
Taraba 4,774,197,659.89
Yobe 4,031,033,046.55
Zamfara 8,404,576,644.25
FCT 69,072,879,664.43

 

 

AlsoRead

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Amongst several states Lagos state registered the highest value for IGR of over N267 billion for H1. FCT, Rivers and Ogun state all accrued N69 billion, N57 billion and 57.3 billion respectively. Meanwhile Yobe, Taraba and Gombe State registered the lowest IGR amongst the 36 states registering N4 billion, N4.7 billion and N5.4 billion respectively.

Region Internal Revenue
South-West  ₦                                    385,414,274,922.27
South-South  ₦                                    156,171,326,501.04
South-East  ₦                                       52,208,433,776.97
North-Central  ₦                                    133,267,082,900.28
North-West  ₦                                       79,147,262,974.60
North-East  ₦                                       42,915,002,928.39

 

Amongst the six geopolitical zones in nigeria  Internally Generated Revenue by Zones in the first half of 2021 shows that the South-West zone recorded the highest revenue which amounted to N385.41 billion, followed by the South-South zone with N156.17 billion, while the North-East zone recorded the least internally generated revenue with N42.92 billion.

The South West contributed 45% to total IGR, South South and North Central contributed 19% and 16% respectively. North East contributed the least amount of 5% to total IGR.

Previous Post

Gold Decrease, but Still Remains Near Two Months High

Next Post

Nigeria’s NGX Appreciate by 1.12%

Related News

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

by Rate Captain
May 18, 2022
0

Chicago Federal Reserve Bank President Charles Evans said he supports moving to a shallower rate-hike path by July or September...

CBN say Nigeria would reap the benefits of a rising oil price

CBN say Nigeria would reap the benefits of a rising oil price

by Rate Captain
May 18, 2022
0

A rising oil price is considered to be beneficial to a major oil exporter like Nigeria. However, the Central Bank...

Next Post

Nigeria's NGX Appreciate by 1.12%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Telcos fault FG’s move to impose new GSM phone call tax

Telcos fault FG’s move to impose new GSM phone call tax

May 24, 2022
European Commission Proposes a Halt in Ukrainian Export Duties

ECB warns that unbacked crypto assets represent a risk to financial stability

May 24, 2022

Popular Story

  • CBN governor respond to APC 100M president form

    BREAKING: CBN raises benchmark interest rate to 13%

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
  • Investment Bank, JP Morgan predicts Foreign Exchange Rates from 2022-2023

    0 shares
    Share 0 Tweet 0
  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • BNP Paribas has joined JPMorgan’s blockchain-based network.

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.