Business & Economy

States’ IGR Hits N1.31Tn In 2020, Ogun & Ondo Record 28.44% & 17.55% Drop

The National Bureau of Statistics Published Internally Generated Revenue (IGR) at State level for Fourth Quarter and Full Year 2020. The 36 states and FCT IGR figure hits N1.31trn in 2020 compared to N1.33trn recorded in 2019. This indicates a negative growth of -1.93% year on year.

Similarly, the Q4 2020 states and FCT IGR figure hits N335.25bn compared to N338.57bn recorded in Q3 2020. This indicates a negative growth of -0.98% quarter on quarter.

Lagos state has the highest Internally Generated Revenue with N418.99bn recorded, closely followed by Rivers with N117.19bn while Yobe State recorded the least Internally Generated revenue. Ondo State generated 24,848,466,192.88 as IGR which represents a decline of 17.55% year-on-year. Similarly, Ogun state recorded a 28.44% decline in its IGR in the year 2020.

The latest figure is a clear reflection of the effect of the COVID-19 pandemic, which necessitated the imposition of movement restrictions across the country and a halt in economic activities. As a result, the States recorded a decline in revenue in the review period

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