States generate N612.87bn in first quarter of 2020
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States generate N612.87bn in first quarter of 2020

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States generate N612.87bn in first quarter of 2020

States generate N612.87bn in first quarter of 2020

The 36 States of the Federation and the Federal Capital Territory (FCT) generated N612.87bn in the first six months of 2020.

The National Bureau of Statistics disclosed this in a report Published Internally Generated Revenue (IGR) at State level for Half Year 2020.

According to the report, the “36 states and FCT IGR figure hits N612.87bn in H1 2020 compared to N693.91bn recorded in 2019.”

The NBS noted that this indicates a negative growth of -11.7 per cent year on year.

It added in the Q2 2020 states and FCT IGR figure hits N259.73bn compared to N353.14bn recorded in Q1 2020.

NBS said this indicates a negative growth of -26.5 per cent quarter- on- quarter.

The bureau said Lagos State raked in the highest IGR with N204.51 billion within January and June.

Rivers State placed in far second with N64.59 billion, followed by FCT with N35.2 billion, Delta State with N30.8 billion, and Ogun State N23.7 billion.

At the bottom of the log are Yobe, Gombe, Adamawa, Ekiti, and Jigawa States which respectively earned N3.9 billion, N3.8 billion, N3.75 billion N3.2 billion, N3 billion.

The report also said in the second quarter of the year, the states and the FCT made N259.73 billion, a dip from N353.14 billion recorded in the first quarter.

“This indicates a negative growth of -26.5% quarter on quarter,” NBS wrote.

The post States generate N612.87bn in first quarter of 2020 appeared first on Within Nigeria.

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