Osun State recorded a 10% increase in its Internally Generated Revenue, IGR in 2016, a report by the Nigeria Bureau of Statistics, NBS has revealed. This is as Lagos continues to dominate the table with the highest IGR generated in the country.
Lagos with a population of above 20m, generated a whopping sum of 302,425,091,964.78 and earned 81,097,954,616.12 from federal allocation, FAAC.
In the NBS report published yesterday and titled ‘Internally Generated Revenue At State Level (2016)’, it was gathered that Osun recorded an improvement in its Internal revenue by 10% between 2015 and 2016. (14th State in % Growth).
Osun with a population of just above 4m, generated the sum of N8.07bn in 2015, but recorded an improved figure of N8.88bn in 2016 representing a 10% growth in a space of one year.
It was also noted that Lagos, Abia, Kano, Benue, Bauchi, Osun and Akwa Ibom emerged top 7 earners of Self-Assessment tax across the country.
An economist, Dr. Taofeek Tijani who spoke to this reporter revealed that economic activities slowed down in 2016 due to several factors, chief amongst being the recession that gripped the nation by its throats. He however noted the prospects are good for 2017.
Meanwhile, several states internal revenue service boards continues to aggressively implement tax laws in order to boost their states IGR. Recall the Osun Internal Revenue Service, OIRS yesterday shut over 82 organisations that refuse to pay their taxes to the state government.