Lagos, Rivers, FCT Lead Nigeria's IGR to N3.63 Trillion in 2024 - Tax Revenue Dominant
Lagos, Rivers, and the FCT led Nigeria's Internally Generated Revenue (IGR) to N3.63 trillion in 2024, with Lagos State alone contributing significantly. Data from the National Bureau of Statistics (NBS) and the Federal Inland Revenue Service (FIRS) revealed a substantial increase in IGR from N1.31 trillion in 2021 to N3.63 trillion in 2024, mainly driven by tax revenue.
Tax revenue accounted for approximately 73% of the total income in 2024, with states collectively generating a record N3.63 trillion IGR. The rise in IGR signifies a positive trend in revenue generation across Nigerian states, with tax revenue playing a crucial role in the fiscal landscape.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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