• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
  • Security
  • Features
  • State
  • Event
  • E-Book
Home National IGR: 36 States Generates N682bn… 15 Appear to be going bankrupt…
  • National

IGR: 36 States Generates N682bn… 15 Appear to be going bankrupt…

By
Prnigeria
-
June 26, 2016

… Lagos Generates More IGR than 32 States Combined

… Rich States: Lagos, Rivers, Delta, Ogun, Edo

…Poor States:  Yobe, Zamfara, Ekiti, Borno, Kebbi

Econ+States+IGR+2015+vs+FAA+2015-2016 (1)An investigation by the Economic Confidential has shown that Fifteen States may go bankrupt as their Internally Generated Revenues (IGR) in 2015 were far below 10% of their Federation Account Allocations (FAA) in one year from June 2015 to May 2016.

The report further indicates that the IGR of Lagos State of N268bn is higher than that of 32 States combined together excluding Rivers, Delta and Ogun whose IGRs are very impressive. The 32 other states merely generated a total of N257bn in 2015.

Recently the Economic confidential, an economic intelligence magazine published the total allocation each state in Nigeria received from the Federation Account Allocation (FAA) between June 2015 to May 2016 which signified one year of President Muhammadu Buhari’s administration.

The latest report on IGR reveals that only Lagos State generated more revenue than its allocation from the Federation Account by 150% and no any other state has upto 100% of IGR to the federal largese.

The IGR of the 36 states of the federation totalled N682.67 billion in 2015 as compared to N707.85 billion in 2014, a drop of N25.18 billion or a minus 3.56 percent.

The report provides shocking discovery that indicates that 15 states may go bankrupt and may not stay afloat outside the Federal Account Allocation due to lack of foresight in revenue generation drive coupled with arm-chair governance.

The states that may not survive without the Federation Account due to poor internal revenues include Yobe which generated meagre N2.2b compared to a total of N57.4bn it received from the Federation Account Allocation (FAA) from June 2015 to May 2016 representing about 3.9%. Others are: Zamfara with IGR of N2.7bn compared to FAA of N56.6bn representing 4.8%; Ekiti N3.2bn compared to FAA of N50.460bn representing 6.5%; Borno with N3.5bn compared to N78.7bn of FAA representing 4.5% and Kebbi with IGR of N3.5bn compared to N64.8bn of FAA representing 5.5% within the period under review.

Read Also:

  • Troops Foil Drug Trafficking in Nasarawa as Suspect Flees, Abandons Vehicle
  • Kano Correctional Service Explains Transfer of Inmate Abduljabbar Kabara
  • Troops Raid Terrorist Camps in Taraba; Recover AK-47, Military Uniforms

Others poor internal revenue earners are Taraba which generated N4.1bn compared to FAA of N56bn representing 6.4%; Nassarawa N4.4bn compared to FAA of N50.5bn representing 8.5%;  Adamawa N4.4bn compared to FAA of N62.2bn representing 7.1%; Gombe N4.7bn compared to FAA of N49.8bn representing 9.6%; Jigawa N5bn compared to FAA of N73bn representing 7%; Bauchi N5.3bn compared to FAA of N72.6bn representing 7.4%; Imo N5.4bn compared to FAA of N71.6bn representing 7.6%; Katsina N5.7bn compared to FAA of N88.8bn representing 6.5 %; Niger N5.9bn compared to FAA of N74.8bn representing 8% and Sokoto N6.2bn compared to FAA of N69.7bn representing 8.9%.

Meanwhile Lagos State retains its number one position in IGR with a total revenue generation of N268.22bn in the twelve months of last year. It is followed by Rivers State N82.10bn, Delta State N40.80bn, Ogun State N34.59bn and Edo state N19.11bn.

However, these five states look good to be on top of the current economic challenges. They are: Enugu, Oyo, Anambra, Akwa Ibom and Kano with N18.08bn, N15.66bn, N14.793bn, N14.791bn, and N13.611 bn respectively.

The Economic Confidential report further showed that the richest northern state is Kano which is the only state from the North to be among the 10 highest IGR earners while the rest are Southern States. The poorest southern State is Ekiti which is the only state from the South to be among the 10 lowest IGR earners while the rest in the category and bottom of the ladder are Northern States.

Meanwhile the IGR of the respective states can improve through aggressive diversification of the economy to productive sectors rather than relying on the monthly Federation Account revenue that largely come from the oil sector.

NOTE:

Please see the attached table on the Ranking of IGR of States in 2015 compared to their Allocations between June 2015- May 2016 with the percentages.

Note: Economic Confidential is a sister publication of PRNigeria

PRNigeria encourages institutions to be transparent in their information management as it provides news items from authoritative sources for free use by the media
VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Economic Confidential
  • Internally Generated Revenues
  • President Muhammadu Buhari’s administration
Previous articleTroops Rescue 5000, Kills 6 Terrorists
Next articleBank Retrenchment: Senate Commends Labour Minister, Throws Weight Behind Dialogue
Prnigeria
Prnigeria
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

FG Moves to Deepen Climate-Smart Policies, Partnerships Across Africa

U.S. Army War College Inducts Late Lagbaja into International Hall of Fame

Irabor's book on Boko Haram

Irabor’s Scars on Northern Boko Haram and the Dead Horse Theory by YAShuaib

Ex-NSA Sambo Dasuki

Court Dismisses DSS Bid to Reintroduce Rejected Evidence Against Sambo Dasuki

ICPC, EFCC, CCB Partner on Commonwealth Anti-Corruption Research Initiative

ICPC), Dr Musa Adamu Aliyu, SAN

ICPC Chairman Advocates Speed, Consistency in Handling Corruption Cases

Convicted Killer, Maryam Sanda and her late husband

Bilyaminu Bello’s Family Condemns Presidential Pardon for Maryam Sanda, Cites “Inexorable Pain”

Department of State Security Service DSS

DSS Warns Public Against another Dismissed Officer Impersonating Agency

Trump Arrives in Israel Ahead of Egypt Summit on Gaza Peace Efforts

Information Minister Congratulates Danlami Nmodu on Election as GOCOP President

Nigerian Police Force

Police Reform Deepens as NASS Okays 2 Landmark Bills to Strengthen Force

African body, experts urge leaders to step up countries’ health financing

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Troops Foil Drug Trafficking in Nasarawa as Suspect Flees, Abandons Vehicle
  • Kano Correctional Service Explains Transfer of Inmate Abduljabbar Kabara
  • Troops Raid Terrorist Camps in Taraba; Recover AK-47, Military Uniforms
  • Soldier Kills Suspect in Self-Defence at Warri Estate — Army
  • Troops Arrest Gunrunning Couple with 1,207 Rounds
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Troops Foil Drug Trafficking in Nasarawa as Suspect Flees, Abandons VehicleKano Correctional Service Explains Transfer of Inmate Abduljabbar KabaraTroops Raid Terrorist Camps in Taraba; Recover AK-47, Military UniformsSoldier Kills Suspect in Self-Defence at Warri Estate — ArmyTroops Arrest Gunrunning Couple with 1,207 RoundsNRMG Unveils ‘M-Factor’ as Nigeria’s Cultural Power Engine for Global ReputationFG Moves to Deepen Climate-Smart Policies, Partnerships Across AfricaU.S. Army War College Inducts Late Lagbaja into International Hall of FameIrabor’s Scars on Northern Boko Haram and the Dead Horse Theory by YAShuaibCourt Dismisses DSS Bid to Reintroduce Rejected Evidence Against Sambo DasukiArmy Condemns ‘False Narrative’ on Soldiers Seeking Permission from Killers in Plateau AttackICPC, EFCC, CCB Partner on Commonwealth Anti-Corruption Research InitiativeArmy Eliminates 12 Bandits, Two Soldiers Injured in Katsina Gun DuelICPC Chairman Advocates Speed, Consistency in Handling Corruption CasesNAF Invites Applications for Airmen, Airwomen Recruitment 46/2025
X whatsapp