Nigeria has 36 states who are blessed with various natural resources, fertile land and diverse cultures. There is abundance of wealth in the country. Most of the states in Nigeria can survive without receiving any revenue from the federal government. This is so because they have massive internally generated revenue (IGR) which is enough to cater for their needs. In this list, we shall highlight the top 5 states with the highest IGR in Nigeria for 2018.
According to the Nigerian Bureau of statistics, Lagos state is ranked as the richest state with the highest IGR. Lagos makes most of her internally generated revenue from taxes paid by the top companies and business owners. Lagos is the most populated state and is regarded as a ‘no man’s land’ in Nigeria. Lagos has the highest number of business enterprises. Lagos has leveraged on this to make the most of internally generated revenue. Figures from the Nigerian bureau of statistics indicates that Lagos state can survive independently as a country.
Rivers state is blessed with oil and gas. It is the treasure base of the nation. Rivers state plays a key role in politics Nigeria. Port harcourt plays hosts to many political rallies and congresses. Majority of the top multinational oil companies have their headquarters in port harcourt. They pay heavy taxes and dividends to the state government. According to the Nigerian bureau of statistics, Rivers state is ranked as the state with the 2nd highest internally generated revenue in Nigeria.
Delta is a south-south state. Most of its revenue comes from oil and gas. There are many multinational oil companies operating in Delta state and they all pay heavy taxes to the state government. They also pay other land duties and dividends. This has played a major in the emergence of Delta state as one of the states with the highest internally generated revenue in Nigeria.
Ogun state is not blessed with massive oil and gas but it has comfortably been making huge income internally. Ogun state shares a common boundary with Lagos and is widely regarded as the gateway state. Ogun state has the highest number of industries and factories in the country. They all pay taxes and duties to the state government thereby making Ogun one of the states with the highest internally generated revenue in Nigeria.
Kano state is the commercial centre in Northern Nigeria and the second most populated state. The high population has elevated
Kano state to become a very influential state in Nigerian politics. There are several markets and factories in the state and the state manages to make earnings from taxes and other funds collected from the markets.
According to the Nigerian bureau of statistics data, Edo state is ranked among the highest earners as regards internally generated revenue in Nigeria. Located in the south-south region of the country, Edo is an oil producing state and it makes much income from taxes paid by operating oil firms. Edo state also makes income from tourism.
It is clearly shown that most of the oil producing states are making massive income internally in addition to the heavy federal government allocation. This list is almost a reflection of the richest states in Nigeria and Lagos State still stands tall as regards the income they generates on their own.
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