Sokoto State increased its revenue by 101.4 per cent, after the North-West state generated N23.76 billion,
Sokoto State, popularly called the Seat of the Caliphate, beat all expectations to record the highest growth in revenue generation in Nigeria in the year 2021.
The North-West state increased its revenue by 101.4 per cent, as it generated N23.76 billion in 2021 according to Data released by the National Bureau of Statistics (NBS).
According to Legit, the 36 states in Nigeria, including the Federal Capital Territory, had a combined Internally Generated Revenue (IGR) of N1.89 trillion in 2021, representing an increase of 21.5 per cent compared to N1.56 trillion recorded in 2021.
In the NBS report, the cumulative internally generated revenue recorded by the states increased above the pre-pandemic levels after it plummeted in 2020 because of lockdowns across the states to curtail the spread of the COVID-19 pandemic.
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In the pandemic year of 2020, the IGR recorded by the states went down from N1.64 trillion in 2019 to N1.56 trillion.
But with economic activities resuming full-scale across Nigeria, the IGR of the states jumped above the pre-pandemic levels.
NBS breakdown indicates that tax revenue accounted for 65 per cent of the total amount generated in the period under review at N1.23 trillion, while N665.89 trillion came from other sources.
Lagos led the pack with an aggregate IGR of N753.5 billion, this accounted for 39.7 per cent of the total inflows recorded by all the states and the FCT. The state increased its IGR by 14.2 per cent from N659.99 billion recorded in 2020.
It was followed by the Federal Capital Territory, Abuja which raked in N131.92 billion, which accounted for 7% of the IGR of all the states. Abuja increased its revenue by 43.3 per cent from 92.1 billion in 2020
Rivers State came third, after making about N123.3 billion from IGR in 2021, this also accounted for 6.5 per cent of the total internal revenue of the state. The South-South state increased its IGR by 5.3 per cent from N117.2 billion recorded in 2020 to N123.3 billion.
Other states that recorded increases in revenue in 2021 are Ogun- N100.73bn, Delta – N80.2bn, Kaduna – N52.9bn, Oyo- N52.1bn, Edo – N42.4bn, Kano-N40.4bn and Akwa Ibom-N31.4bn.
