The Business NG - November 25, 2024

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In 2023, Lagos State emerged as the highest performer in Nigeria’s Internally Generated Revenue (IGR) rankings, generating an impressive N840 billion, a figure far surpassing that of any other state.
Rivers followed closely with N203 billion, while Ogun State reported N146 billion, reinforcing the success of these states in building strong revenue generation structures.
Delta and Kaduna states were also notable contributors, with IGRs of N99 billion and N62 billion, respectively.
Despite the impressive performances from these states, the data also highlights a concerning trend in Nigeria’s fiscal landscape. While a few states continue to show strong fiscal health, a significant number of states are struggling to generate sufficient local revenue. Edo, Oyo, and Kwara states brought in N59 billion, N51 billion, and N48 billion in IGR, respectively, signaling a gap in their revenue-generation capacities