The National Bureau of Statistics (NBS) reported that the 36 states and the Federal Capital Territory (FCT) collectively generated N2.43 trillion as internally generated revenue (IGR) in 2023.
This is contained in the NBS report on state-level IGR for 2023.
The report says the 2023 IGR grew by 26.03 percent compared to N1.93 trillion recorded in 2022.
According to the NBS, the 2023 IGR had two main sources of revenue: taxes and revenue from ministries, departments and agencies (MDA).
The office said the tax subcategories recorded in the period are Pay As You Earn (PAYE), Direct Assessment, Road Tax, Stamp Duty, Capital Gains Tax, Withholding Tax, Other Taxes and LGA Income.
According to the report, the leading states in total IGR in 2023 were Lagos, FCT and Rivers with N815.86 billion, N211.10 billion and N195.41 billion respectively.
“The three worst performing states during the year were Taraba, Yobe and Kebbi worth N10.87 billion, N11.19 billion and N11.74 billion respectively.”
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The report said PAYE was the largest contributor of revenue in 2023 with N1.24 trillion, which was a share of 63.83 per cent of the total taxes collected nationwide.
The office said the capital gains tax generated the least amount in 2023 at N5.91 billion.
The report said total taxes on total IGR amounted to about 80 percent nationwide.
(YAYA)