States’ IGR drops in Q3 - NBS

States Internally Generated Revenue (IGR), including Federal Capital Territory (FCT) dropped to N264.38 billion in third quarter of 2018 (Q3 2018) compared to N279.78 billion in the preceding quarter, according to National Bureau of Statistics (NBS).

The figure indicated a negative growth of 5.08 per cent quarter on quarter.

According to Internally Generated Revenue at State Level (Q3 2018) report released yesterday, 17 states recorded growth in IGR while 20 states recorded decline quarter on  quarter at the end of Q3.

According to the statistical agency, net FAAC allocation in Q3 stood at N1.82 trillion while total revenue available to states stood at N2.72 trillion.

However, year to date total state IGR stood at N794.50 billion.

The report further put the value of states’ foreign debt at $4.22 billion while the domestic component was valued at N3.38 trillion as at the end of the half year of last year respectively.

Lagos State IGR for fell to N87.06 billion from N100.16 billion in Q2 while Kwara grew its IGR to N5.97 billion in Q3 compared to N3.67 billion in the preceding quarter.

Logo State IGR also dropped to N2.53 billion in the review period from N2.92 billion in Q2 while that of Kano also declined to N7.09 billion from N9.23 billion in Q2.

Oyo State IGR also declined to N5.88 billion I’m Q3 from N6.97 billion the preceding quarter.

FCT IGR also dropped from N15.19 billion in Q2 to N14.05 billion in Q3.

 

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