Economy

Oyo state records 42% IGR increase in 2020

According to National Bureau of Statistics (NBS) latest report on “Internally Generated Revenue (IGR) at State Level” for Fourth Quarter and Full Year 2020, Oyo state generated N38.042 billion internal revenue in 2020.

The 36 states and the Federal Capital Territory (FCT) generated N1.31 trillion as Internally Generated Revenue (IGR) in 2020 compared to N1.33 trillion recorded in 2019.

According to the report, it indicates a contractionof -1.93 per cent year on year.

It added that the Q4 2020 states and FCT IGR figure was N335.25 billion compared to N338.57 billion recorded in Q3 2020. This indicates a negative growth of -0.98 per cent quarter on quarter.

The NBS said that Lagos state recorded the highest IGR of N418.99 billion, closely followed by Rivers with N117.19 billion and the FCT with N92.05 billion.

Others on the top states list include:

Delta state recorded N59.732 billion
Kaduna N50.768 billion
Ogun N50.749 billion
Oyo N38.042 billion
Kano N31.819 billion
Akwa Ibom N30.696 billion
Anambra N28.009 billion
Edo N27.184 billion
Ondo N24.848 billion and
Enugu N23.650 billion.

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