Home Business States 2020 Internally Generated Revenue shrinks -1.93% YoY

States 2020 Internally Generated Revenue shrinks -1.93% YoY

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By Audrey Lotechukwu

FRI 16 APRIL, 2021-theGBJournal- Official data published today by the National Bureau of Statistics (NBS) showed Internally Generated Revenue at State level for fourth quarter and full year 2020 shrank -1.93%, a reflection of the struggle of most state governments to generate revenue.

The figures will increase pressure on state governments to stimulate growth and employment creation, which has drastically slowed since the COVID-19 pandemic hit.

The total IGR for the 36 states and FCT (YoY) came in at N1.31trn in 2020 compared to N1.33trn recorded in 2019. In Q4 the total figure was -0.98% down, from N338.57bn recorded in Q3 2020 to N335.25bn.

The Statistics office said that Kebbi State (87.02%) and Ebonyi States (82.30%) recorded the highest YoY growth in IGR in the period under review. Benue State (-41.38%) and Sokoto State(-37.93%) recorded the biggest growth drop YoY in IGR.

Lagos raked in N418,988,587,897.11 (5.08 % up YoY). Rivers saw a huge drop YoY of -16.53% but stayed (N117,189,729,245.29) closely behind Lagos while the FCT generated 23.4% more (N92,059,700,897.42) IGR to stay in the top three. Yobe (down -7.87% ) and Adamawa (-14.17%) lagged.

18 States overall recorded drop in their IGR YoY including Akwa Ibom, Bayelsa, Delta, Abia, Edo and Rivers states. Kano State also recorded -21.61% drop in IGR while the drop in Jigawa was as high as -32.95%.

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