Nigeria’s IGR increases by 26% as 36 states and FCT raked in N2.43trn in 2023

The National Bureau of Statistics (NBS) has reported that Nigeria’s 36 states and the federal capital territory (FCT) collectively generated N2.43 trillion in internally generated revenue (IGR) in 2023. This marks a 26.5% increase from the N1.92 trillion recorded in 2022.

According to the NBS report, released on Monday, Lagos State led the IGR rankings, contributing N815.86 billion, which represents 33.6% of the nation’s total IGR in 2023. This revenue figure reflects a 25% growth from Lagos’ N651.15 billion IGR in 2022.

Other top revenue-generating states include the FCT, which recorded N211.10 billion, followed by Rivers with N195.41 billion, Ogun with N146.87 billion, and Delta, which generated N90.91 billion. In contrast, the states with the lowest IGR were Taraba (N10.86 billion), Yobe (N11.19 billion), Kebbi (N11.73 billion), and Gombe (N15.17 billion).

The South-West zone emerged as the highest contributor by region, amassing N1.1 trillion, with Lagos accounting for 73% of this total. The South-South zone followed with N468.7 billion, while the South-East zone recorded N142.9 billion, and North-Central generated N387.6 billion. The North-West zone reported N206.2 billion, and the North-East zone posted the lowest regional revenue with N104.3 billion.

The NBS clarified that IGR includes revenues from taxes and ministries, departments, and agencies (MDAs). This growing revenue base underscores the economic disparity between Nigeria’s regions, with Lagos and the South-West dominating IGR contributions.