According to a recent National Bureau of Statistics report, states’ internally generated revenue in 2024 was 3,633,054,718,156.89 (trillion). According to the research, the growth rate from N2.43 trillion in 2023 was 49.70 percent. According to the report, the states of Lagos, Rivers, and the Federal Capital Territory had the greatest IGRs during the reference period, with N1.26 trillion, N317.30 billion, and N282.36 billion, respectively. However, with N11.08 billion, N13.18 billion, and N16.97 billion in revenue, respectively, Yobe, Ebonyi, and Kebbi states reported the lowest revenues. It further stated that the highest tax revenue during the period was PAYE (N1.86 trillion), which accounted for 69.84 percent of all taxes collected, while the lowest tax revenue was capital gains tax (N10.57 billion), with the total taxes to total IGR standing at roughly 73.35 percent nationwideAccording to the study, the Joint Tax Board gathered the data from State Boards of Internal Revenue submissions and official records. The list of other taxes collected included MDAs Revenue (N968.1 billion), Withholding Tax (N391.5 billion), Other Tax (N198.4 billion), Direct Assessment (N87 billion), Stamp Duties (N52.6 billion), LGA Revenue (N39.3 billion), and Road Tax (N23.9 billion).
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