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

Jigawa State had the least IGR among the North-Western states, generating one of the lowest IGRs of the 36 states and the FCT. Kano received the highest share of the Federation Account Allocation in the region.

Source:

Economic Confidential

Period:

2020
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In ten years, Osun State’s IGR rose nearly fivefold to ₦54.7b in 2024, driven by a great 97% leap from 2023
  • Osun’s Internally Generated Revenue (IGR) grew from ₦11.78b in 2015 to ₦54.70b in 2024, marking a 364% increase.
  • The state maintained steady annual growth after 2017, with notable acceleration from 2020 onward.
  • The single biggest leap occurred between 2023 and 2024, with revenue nearly doubling from ₦27.72b to ₦54.70b.
  • The upward trend reflects improved tax collection, diversification of revenue sources, and stronger fiscal policies.
Internally Generated Revenue (IGR) constituted 61% of Lagos State’s Q1 2025 total receipts
  • Internally Generated Revenue (IGR) accounted for 61% of Lagos State’s Q1 2025 receipts.
  • VAT was the second-largest funding source, contributing 22%.
  • Loans made up 8% of total inflows for the quarter.
  • Opening balance accounted for 4%, indicating a moderate carryover from the previous year.
Anambra State has tripled its IGR in the last ten years
  • Anambra’s IGR grew sevenfold in 16 years, reaching ₦42 billion in 2024.
  • A ₦26B to ₦42B jump in just six years (2018–2024) indicates accelerating growth.
  • The most dramatic jumps occurred post-2018, pointing to possibly new fiscal reforms or policies.
  • Between 2014 and 2024, revenue grew by over 300%, from ₦10B to ₦42B.
From 2011 to 2022, the highest total revenue recorded by the Nigerian government was in 2011, reaching 17.73%
Key Takeaways:
  • Nigeria's total revenue decreased from 17.73% of GDP in 2011 to 9.09% in 2022.
  • The lowest point for the country’s revenue occurred in 2016, at only 5.12% of GDP.
  • Although there has been some recovery since 2016, revenue still falls well below the levels seen before 2015.
  • The sharpest decline took place between 2011 and 2016, with revenue dropping by over 12 percentage points.
  • In 2020, during the COVID-19 pandemic, there was a significant drop to 6.52%, followed by a period of recovery.
Libya recorded the highest revenue-to-GDP ratio among African countries in 2022 with 85.78%
Key takeaways:
  • Libya's total revenue (85.78% of GDP) significantly surpassed all other African states.
  • Lesotho is noteworthy with the second-highest total revenue ratio at 48.12%.
  • Equatorial Guinea and Sao Tomé & Príncipe in Western Africa recorded total revenue of 30.79% and 25.38% respectively.
  • South Africa generated 27.74% of its GDP in revenue.
  • The top ten countries reported total revenue exceeding 28%.
Ebonyi & Lagos: Nigeria’s leaders in revenue growth and collection in 2023
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%.
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