The internally generated revenue (IGR) of the 36 states of the federation and the FCT rose to N2.43 trillion in 2023.

This is 26.03 per cent higher than the N1.93 trillion recorded in 2022.

Lagos State had the highest IGR during the period with a total of N815.86 billion.

Lagos is closely followed by the FCT and Rivers State, with N211.10 billion and N195.41 billion respectively.

The National Bureau of Statistics (NBS) which released the IGR report yesterday noted that the IGR has two broad categories of Taxes, and Ministries, Departments, and Agencies (MDAs) revenue.

It said taxes, comprised of pay-as-you-earn (PAYE), direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes other taxes, and local government revenue.

The NBS notes that Taraba, Yobe, and Kebbi states reported the least revenues with N10.87 billion, N11.19 billion and N11.74 billion respectively.

It also noted that PAYE was the most tax revenue recorded during the period, generating N1.24 trillion, representing 63.83 percent of the total taxes collected, while capital gains tax was the least with N5.91 billion.

Total taxes to total IGR stood at about 80 percent nationally.