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Lagos State’s IGR skyrocketed 112% from ₦384.26B in 2013 to a record ₦815.86B in 2023

Lagos State’s IGR grew by 112%, from ₦384.26B in 2013 to a record ₦815.86B in 2023.
Revenue dipped to ₦268.22B in 2015 before recovering and steadily increasing.
A major jump occurred in 2019, with IGR rising from ₦382.18B to ₦646.61B in one year.
Despite a dip in 2022, IGR hit an all-time high in 2023, signalling a strong economic recovery.

Oyo State grew its IGR by an average of 15.6% over 16 years

Oyo State, the sixth most populous in Nigeria, contributed 3.2% of the total internally generated revenue (IGR) in 2022. Notably, its population represented 3.2% of the nation's total, according to a 2023 estimate.

Nigeria's Federation Account Allocation and Internally Generated Revenue by Geopolitical Zone in 2020

Nigeria's Federation Account Allocation Committee (FAAC) shared a total of ₦4.19 trillion among 36 states and the FCT in 2020. Lagos State made ₦419 billion in internally generated revenues (IGR) — 32% of the IGR by all states combined.

Nigeria: Federation Account Allocation and Internally Generated Revenue by South-Western States in 2020

Lagos contributed the most IGR among all states in the country but got an allocation 28.5% less than its IGR. Here is a breakdown of the Federation Account Allocation and Internally Generated Revenue by South-Western states in 2020.

Nigeria's internally generated revenue by states in 2022

Nigerian states and the FCT generated ₦1.92 trillion in internal revenue in 2022, ₦29.8 billion (1.57%) more than in 2021, with Lagos State accounting for 34% of the IGR in 2022. Here are the revenues collected by Nigeria's states in 2022.