Business
Lagos IGR increases by N32bn, higher than 33 states together
The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating the IGR of 33 states put together.
The internally generated revenue (IGR) of Lagos state rose by approximately N33 billion from 2015 to 2016, beating 33 states put together.
According to a report by the Nigeria Extractive Industries Transparency Initiative (NEITI), the state recorded an IGR of N301.19 billion, a rise of N32.99 billion in one year.
The total IGR from 33 states of the federation, excluding Delta, Ogun and Rivers states, stood at N299 billion — over a billion less than Lagos IGR.
Delta, Ogun and Rivers raked in N44.89 billion, N56.30 billion and N82.10 billion respectively.
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Like his predecessors, Bola Tinubu and Babatunde Fashola, Akinwunmi Ambode, governor of Lagos state, has at various times committed himself to the generation of IGR in the state.
The NEITI report, which reviewed disbursements from the Federation Account Allocation Committee (FAAC) for the fourth quarter of 2016, also showed that Lagos received N109 billion in 2016.
The agency lamented low revenue generation across 34 states, citing Lagos and Ogun as the only states generating more than what they derive from the federal government.
