Lagos, Rivers, and the Federal Capital Territory (FCT) have once again emerged as Nigeria’s top revenue-generating regions, as Internally Generated Revenue (IGR) across the country rose sharply by 49.7 percent in 2024.
According to the latest report from the National Bureau of Statistics (NBS), total IGR from the 36 states and the FCT climbed to ₦3.63 trillion in 2024, compared to ₦2.43 trillion recorded in 2023.
Breaking down the figures, Lagos State maintained its dominance with an impressive ₦1.26 trillion, followed by Rivers State with ₦317.30 billion, and the FCT with ₦282.36 billion.
“The 36 states and the FCT generated a total of ₦3.63 trillion as IGR in 2024, reflecting a 49.70 percent increase from ₦2.43 trillion in 2023,” the NBS stated in its report.
“Lagos, Rivers, and the FCT recorded the highest IGR figures with ₦1.26 trillion, ₦317.30 billion, and ₦282.36 billion respectively, while Yobe, Ebonyi, and Kebbi posted the lowest revenues at ₦11.08 billion, ₦13.18 billion, and ₦16.97 billion respectively.”
The NBS explained that the IGR report is divided into two broad categories: Tax Revenue and Ministries, Departments, and Agencies (MDAs) Revenue.
Under the Tax Revenue segment, collections were derived from various sources including Pay As You Earn (PAYE), Direct Assessment, Road Taxes, Stamp Duties, Capital Gains Tax, Withholding Tax, Other Taxes, and Local Government Area (LGA) Revenues.
The report revealed that PAYE accounted for the majority of tax income, contributing ₦1.86 trillion, or 69.84 percent of total taxes collected nationwide. In contrast, Capital Gains Tax generated the least, with ₦10.57 billion recorded during the year.
Overall, the ratio of total tax revenue to total IGR stood at approximately 73.35 percent, highlighting the heavy reliance of states on tax-related income as their main source of internally generated funds.
The surge in IGR reflects states’ growing efforts to expand their tax bases, enhance revenue collection efficiency, and reduce dependence on federal allocations amid ongoing fiscal challenges.
