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States, FCT revenues rise to N691bn in 6 months

The Internally Generated Revenues (IGR) of the 36 states and the Federal Capital Territory (FCT) rose by 15 per cent to hit N691.11 billion in the first half of 2019, the National Bureau of Statistics (NBS) said.

The IGRs for the first and second quarters of 2019 published yesterday by NBS showed that the states and FCT recorded a positive jump.

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An earlier NBS Q2 2018 report puts the IGR for states and FCT in the first half of 2018 at N579.49bn. That was higher than the N453.83bn recorded in half year of 2017, indicating a growth of 27.7% year on year.

The report said 31 states and the FCT recorded growth in IGR while five states declined by the H1 of 2019.

Meanwhile the net Federal Account Allocation Committee (FAAC) allocation in first half of 2019 was N1.20 trillion.

The report also showed that the total revenue available to the states including the FCT was N1.89trn during the same period.

However, the value of foreign debt stands at $4.23bn while domestic debt hit N3.85trn at the end of 2018 respectively.

 

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