States record N691bn IGR in six months — NBS

Within a six months period covering January to June this year, the 36 states and the Federal Capital Territory generated the sum of N691.11bn as internally generated revenue.

The figure is contained in the second quarter IGR report released on Friday by the National Bureau of Statistics.

The report explained that the N691.11bn represents an increase of 15.78 per cent when compared to the N596.91bn recorded in the second half of 2018.

The report noted that 31 states and the FCT recorded growth in IGR, while five states recorded a decline in IGR during the period under review.

The states that recorded a decline in the IGR are Gombe, Enugu, Bayelsa, Ogun, and Anambra States.

The report reads in part, “The 36 states and FCT IGR figure hits N691.11bn in the first half of 2019 compared to N596.91bn recorded in the second half of 2018. This indicates a positive growth of 15.78 per cent.

“Thirty-one states and the FCT recorded growth in IGR while five states recorded a decline in the IGR at the end of H1 2019.”

The report put the net FAAC allocation in the first half of 2019 at N1.2tn while the total revenue available to the states including the FCT is put at N1.89tn.

However, it explained that the value of foreign debt stood at $4.23bn while domestic debt was put at N3.85tn at the end of the 2018 fiscal period respectively.