The National Bureau of Statistics (NBS) said the internally generated revenue (IGR) of 36 states and the Federal Capital Territory (FCT) for fourth quarter 2018 was N324.59 billion compared to N264.34 billion recorded in third quarter of the same year.
NBS disclosed this in “IGR at State Level for Fourth Quarter and Full Year 2018” posted on its website.
The bureau said that the figure (N324.59 billion), indicated a positive growth of 22.79 per cent quarter-on-quarter and 24.82 per cent year-on-year. It said 31 states and the FCT recorded growth in IGR while five states recorded decline in IGR quarter-on-quarter at the end of fourth quarter, 2018.
The report said the net Federation Accounts Allocation Committee (FAAC) allocation in fourth quarter 2018, was put at N2.56 trillion. The report said the total revenue available to the states including the FCT was N3.74 trillion in the quarter under review.
However, it said the value of foreign debts stood at 4.23 billion dollars while domestic debt was N3.85 trillion at the end of the year 2018. The states IGR data was computed by the NBS and the Joint Tax Board from official records and submissions by the 36 State Boards of Internal Revenue. These submissions were then validated and authenticated by the Joint Tax Board chaired by the Federal Inland Revenue Service. The board has the NBS and the 36 State Boards of Internal Revenue as members.