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States recorded N691bn IGR in six months – NBS - PUNCH

OCTOBER 12, 2019

BY  Ifeanyi Onuba, Abuja

The 36 states and the Federal Capital Territory earned the sum of N691.11bn as internally generated revenue within a six-month period, covering January to June this year,.

The figure is contained in the second quarter IGR report released on Friday by the National Bureau of Statistics.

The report explained that the N691.11bn represents an increase of 15.78 per cent when compared to the N596.91bn recorded in the second half of 2018.

The report noted that 31 states and the FCT recorded growth in their IGR, while five states recorded decline in IGR during the period under review

The states that recorded decline in IGR are Gombe,Enugu,Bayelsa, Ogun and Anambra.

The report reads in part, “The  36  states  and  FCT  IGR  figure  hits  N691.11bn  in first half of 2019  compared  to  N596.91bn  recorded  in  the second half of 2018. This indicates a positive growth of 15.78 per cent.

“Thirty-one  states and  the FCT  recorded growth  in IGR  while five states recorded  decline in  IGR at the end of H1 2019.”

The report put the net  FAAC  allocation  in the first half of 2019   at  N1.2tn while  the  total  revenue  available  to  the  states including the FCT is put at N1.89tn.

However,  it explained that the  value  of  foreign  debt  stood at  $4.23bn  while  domestic  debt  was put at  N3.85tn  at  the  end  of the 2018 fiscal period respectively.

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