BUSINESS
BREAKING! Excluding Rivers, Anambra, Ebonyi, States Generate N1.05trn In Q1- Q3 2017 NBS IGR Report
The National Bureau of Statistics, (NBS), has released the report of the Internally Generated Revenue (IGR) of States for Q3 2017, pegging the total revenue available to states at N1.05trn, excluding those of Rivers, Anambra and Ebonyi States.
The report which was released by the NBS on Thursday morning, November 30, shows that a total of N149.45bn was generated by States in Q3 2017 while the Q3 2017 YTD revenue generated by states was put at N473.08bn.
The report however excluded Sokoto, Nasarawa, Niger, Kwara, Kano, Katsina, Kebbi, Kogi, Gombe, Edo, Borno, Bauchi, Adamawa, Abia, Ebonyi and Anambra who are yet to report their IGR figures for Q3 2017.
The NBS report says a shortfall of N334.84bn was recorded as at Q3 2017 compared to the full year 2016 and Q3 2017 YTD IGR figures of all states.
The NBS said states like Bayelsa, Benue, Ekiti, Enugu and Jigawa have already surpassed their total 2016 IGR figures as of Q3 2017.
Similarly, the full year 2016 state IGR figure of N807.92bn excludes Anambra, Ebonyi and Rivers states who are yet to report on details for either one or all of the last 3 years.
“As at the half year 2017, total revenue generated by states was put at N396.92bn as against N392.06bn. This represents an average growth of 1.24%. 25 States are doing better with IGR by Q2 2017 compared to Q2 2016 and this excludes Rivers, Ebonyi and Anambra (represented by -) who have not yet reported IGR details for Q2 2017 and who have not reported details for either one of all of the last 3 years.
“The net FAAC allocation in the half year 2017 (N744.4bn) was 187% higher than IGR for the same period in Q2 2017 (N396.9bn) excluding IGR for Anambra, Rivers and Ebonyi states. If we remove FAAC for these 3 states without IGR records then net FAAC allocation by Q2 2017 (N664.8 bn) was 165% higher than total IGR for states with records by Q2 2017.
“The total revenue available to states was put at N1.05trn and these exclude IGR information for Rivers, Anambra and Ebonyi States (represented with -)”, the NBS report added.
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