- Lagos IGR Higher than North-Central, Others in 2018
Lagos state remains Nigeria’s highest revenue-generating state, according to a quarterly document released by the Nigeria Extractive Industries Transparency Initiative (NEITI).
The report shows Lagos revenue stood at N501.2 billion in 2018, while the South-East region generated N340.1 billion during the same period.
Similarly, the North-East and North-Central realised N351.5 billion and N378.7 billion, respectively.
The revenue is the sum of the internally generated revenue (IGR) and allocations from the federation accounts allocation committee (FAAC).
States generated a total IGR of N1.103 trillion in 2018 while the total FAAC allocations were N2.849 trillion. Suggesting that most Nigerian states relied on Government allocation to function.
“This implies that the total revenue of Lagos State was 13.9% of the combined total revenue of all states. Also, if the states with the highest and lowest revenues are compared, the revenue of Lagos State was 15 times or 1,518% of the revenue of Osun State,” the report read.
“The total revenue of Lagos State (N501.2 billion) exceeded total revenue of each of three zones: North Central (N378.7 billion), North East (N351.5 billion), and South East (N340.1 billion).
“While the total revenue received by Lagos State is higher than the total revenue of each of these zones, the total revenue of the South-South is higher than the combined total revenue of all three zones. The total revenue received by Lagos State is greater than the combined total revenues received by nine states (N449.49 billion) – Osun, Ekiti, Zamfara, Ebonyi, Gombe, Taraba, Cross River, Nasarawa, and Adamawa.”
On a regional basis, the south-south realised the highest revenue of N1.102 trillion. Followed by South West with a total of N877.8 billion.
North-West, North-Central, North-East and South-East generated N546.5 billion, N378.7 billion, N351.5 billion and N340.1 billion, respectively.
Lagos generated the highest revenue among states in 2018, while Osun recorded the lowest at N33.2 billion, slightly below Lagos average monthly internal revenue of N34 billion.