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States generated N931.23bn in 2017 – NBS

… N1.73trn FAAC allocation
… accumulate $19.9bn foreign debt, N3.35trn domestic debt

By Emmanuel Elebeke

The National Bureau of Statistics (NBS), says the total Internationally Generated Revenue (IGR) generated at the state level was N931.23bn in 2017 fiscal year.

In its latest data report released on Friday by the statistical body shows that the N931.23bn IGR realised by the 36 states in the whole of 2017 was N100.04bn higher compared to N831.19bn generated in the preceding year.

According to the report, the fivure indicates a growth of 12.03% year on year.

The report also shows that the total of N432/65bn was generated at the end of second half (H2 2017), as against N409.09bn generated in H1 2017.

The NBS said thirty-one (31) States recorded growth in IGR in the year under review, while five (5) states which includes (Akwa Ibom , Anambra , Bauchi, Osun and Taraba) recorded a decline at the end of 2017 Fiscal Year.

The net FAAC allocation in year 2017 is put at N1.73 trillion while the total revenue available to the states is put at N2.67 trillion.

However, the value of foreign debt stands at $19.9bn while domestic debt hits N3.35 trillion at the end of 2017 full year respectively.


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