5 Igbo States generate N165.3 bn as revenue in first half 2019 — NBS

5 Igbo States generate N165.3 bn as revenue in first half 2019 — NBS

The National Bureau of Statistics (NBS), says in the first half of 2019, the 5 Igbo states generated N691.11 billion as Internally Generated Revenue (IGR).

The NBS said this in its “IGR at State Level for Quarter One and Quarter Two, 2019” report obtained from its website on Friday in Abuja.

According to it, the net Federation Accounts Allocation Committee (FAAC) allocation in the first half of the year is put at N1.20 trillion, while the total revenue available to the states including the FCT is put at N1.89 trillion.

It, however, said that the value of foreign debt stood at 4.23 billion dollars, while domestic debt hit N3.85 trillion at the end of 2018.

The bureau said that the IGR was derived from Ministries, Departments and Agencies’ (MDAs) revenues, Direct Assessment, Pay As You Earn (PAYE), Road Taxes and other Taxes.

The data showed that Lagos state led the collection table with N263.25 billion, while Rivers collected N151.8 billion, Delta N145 billion, Akwa Ibom N106.7 billion and FCT N72.8 billion.

Imo State generated N37.4 billion, Enugu N35.7 billion, Abia N33.5 billion, Anambra N32.2 billion and Ebonyi N26.5 billion.

Nigeriaserve reports that the recorded IGR made by the states excludes the monthly allocation received from FAAC.

It also reports that the states IGR data was computed by the NBS and the Joint Tax Board from official records and submissions by the 5 State Boards of Internal Revenue.

These submissions were then validated and authenticated by the Joint Tax Board chaired by the Federal Inland Revenue Service.

The board has the NBS and the 5 South Eastern State Boards of Internal Revenue as members.

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