Akwa Ibom State is among the five states in the country that recorded growth decline in internally generated revenue at the end of 2017 as contained in National Bureau of Statistics report released on Friday.
Anambra, Bauchi, Osun and Taraba states also recorded growth decline in IGR, although NBS did not state the exact figures recorded by these states including Akwa Ibom.
In the report, the National Bureau of Statistics stated that 31states generated a total amount of N931.23 billion during the fiscal period, which shows an increase of N100 billion over the N831.19 billion recorded in 2016.
The NBS report said that the 31 states recorded growth, an analysis showing that Lagos State recorded the highest revenue of N333.96 billion in the 2017 period as against N302.42 billion in 2016.
This is followed by Rivers and Ogun states with N89.48 billion and N74.83 billion in 2017 as against N85.27 billion and N72.98 billion in the 2016 fiscal period respectively.
Delta followed with IGR of N51.88 billion in 2017 as against N44.05 billion in 2016 while Kano had N42.41billion in 2017 as against N30.95 billion in 2016.
On the other hand, the report stated that Yobe with the total amount of N3.59 billion recorded the lowest IGR in 2017 as against N3.24 billion in 2016.
This is followed by Bauchi, Kebbi, Ekiti and Borno with N4.36 billion, N4.39 billion, N4.96 billion and N4.98 billion in 2017 respectively.
In 2016, Bauchi, Kebbi, Ekiti and Borno states recorded IGR of N8.67 billion, N3.13 billion, N2.99 billion and N2.67 billion in that order.
The report read in part, “The full year 2017 states IGR figure hits N931.23 billion compared to N831.19 billion recorded in the year 2016.
“This indicates a growth of 12.03 per cent year on year.
“At the end of the second half of 2017, total revenue generated by states was put at N432.65 billion as against N409.09 billion in the first half.”
The NBS report put the net federation account allocation in the 2017 fiscal year at N1.73 trillion while the total revenue available to the states was put at N2.67trillion.
In the area of debt portfolio, the report said the value of foreign debt stood at $19.9 billion while domestic debt was N3.35 trillion at the end of 2017.
At the Federation Account Allocation Committee meeting held last December, state governments had resolved to begin an aggressive drive to shore up their internally generated revenue from 2018.
The move was part of the measures aimed at reducing the over-dependence of state governments on the revenue from the federation account.
Mr. Mahmoud Yunusa, the Chairman, Forum of Finance Commissioners of the FAAC, said that states would be setting up machinery to assist in boosting IGR.
Yunusa said, “There are a lot of states that are doing very well in terms of revenue generation and most of the states in the North-East have also started doing very well because there are improvements in commercial activities and taxes are being collected in these areas.”
