28 total operational free zones span across 13 states plus the FCT, highlighting a broad but uneven distribution.
Lagos hosts 12 zones, over 40% of Nigeria’s total, making it the clear leader.
Ogun State ranks second with 3 zones, followed by Rivers with 2, while other states have just 1 each.
This distribution underscores a heavy clustering in the Southwest, reflecting Lagos’ dominance as a commercial hub and a drive to spread investment across various regions.
Lagos led Nigerian states with ₦815.9 billion in Internally Generated Revenue for 2023, followed by the FCT with ₦211.1 billion.
Despite only a 25% growth, Lagos’ IGR confirms its economic dominance. The FCT, meanwhile, recorded an impressive 70% increase.
Ebonyi, though with lower revenue, achieved an astonishing 148% growth.
Taraba generated the least revenue, increasing by 6%.
In 2022, employees in Lagos, Rivers, and the FCT contributed ₦558.7 billion in PAYE tax, representing over half of the nation's total.
Lagos State alone accounted for ₦360.9 billion.
These figures underscore the tax contributions from Nigeria's key economic regions.
How much more debt did Nigerian states add to their existing domestic debt in 2023?
Nigerian states' domestic debt increased by 9.8% in 2023, with 20 states and the FCT contributing to this increase. Lagos State recorded the biggest jump in domestic debt with ₦241.5b added.
