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Nigeria’s IGR hits N931.2b in 2017

Nigeria’s IGR hits N931.2b in 2017

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Samuel Bello, Abuja

Reports from the National Bureau of Statistics (NBS) revealed that the Internally Generated Revenue (IGR) by state for the full year of 2017 racked up N931.23 billion compared to N831.19 billion recorded in the previous year.

The bureau also stated in the Internally Generated Revenue report for 2017, released, on Monday, in Abuja, that the figure represented a growth of 12.03 percent or N100 billion year on year.

The NBS reported that thirty one states recorded growth in IGR while five states which includes Akwa Ibom, Anambra, Bauchi, Osun and Taraba recoded a decline at the end of 2017.

The report also revealed that Lagos state got the highest revenue of N333.96bn in 2017 compared to N302.42bn recorded in the previous year, followed by Rivers with N89.48 billion as against the N85.27 billion in 2016.

It added that Yobe State got the lowest IGR In 2016 of N3.59 billion compared to N3.24 billion in 2016.

According to the statistics office, “at the end of second half of 2017, total revenue generated by states was put at N432.65bn as against N409.09 billion in first half of 2017.

“The net FAAC allocation in year 2017 is put at N1.73 trillion while the total revenue available to the states is put at N2.67 trillion.

“However, the value of foreign debt stands at $19.9bn while domestic debt hits N3.35 trillion at the end of 2017 full year respectively.

The post Nigeria’s IGR hits N931.2b in 2017 appeared first on The Sun News.

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