A latest report by BudgIT has shown that Lagos and Ogun states accounted for half of the average Internally Generated Revenue (IGR) from the 36 states in Nigeria over the last decade.
The report released on Tuesday, October 28, put the two states’ average IGR at ₦643.21 billion, approximately.
It revealed that the average IGR over the 2015–2024 period remained highest in Lagos at ₦541.35 billion, followed by Ogun at ₦92.86 billion.
Delta followed with ₦74.46 billion, Kaduna pooled ₦44.83 billion, and Enugu ₦40.28 billion.
“To contextualise, the combined average IGR of Lagos and Ogun (₦643.21 billion) approximates the total average IGR of the remaining 33 states,” BudgIT stated.
According to the report, Borno and Ogun achieved the highest IGR growth rates at 862.61 per cent and 463.47 per cent respectively.
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Ten other states including Borno, Ogun, Nasarawa, Ekiti, Enugu, Zamfara, Bayelsa, Bauchi, Osun, and Niger, exceeded 500 per cent growth.
Overall, 30 states achieved at least 200 per cent growth between 2015 and 2024, with Enugu, Bayelsa, and Abia leading year-on-year growth (2023–2024) above 100 per cent.
The report shows further that 15 states—including Osun, Kano, Delta, Jigawa, and Akwa Ibom—recorded growth above 50 per cent over the same period, whereas Yobe and Kebbi recorded negative growth.
“Analysis of average year-on-year IGR growth rates over the past 11 years highlights exemplary performance by Zamfara (43.56%), Jigawa (41.70%), Ogun (34.31%), Ekiti (33.67%), Borno (32.77%), and Bauchi (30.68%), indicating sustained annual growth of at least 30%. Fourteen states achieved average annual growth of 20%, while all but one recorded year-on-year growth exceeding 10%.
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“Although granular data on tax and non-tax revenue components remain limited for earlier fiscal years, from 2021, most states began reporting detailed figures, allowing more precise tracking of revenue drivers,” BudgIT stated.
It noted that over the decade, all subnationals demonstrated resilience, with no state recording negative average growth between 2014 and 2024.
Commenting, BudgIT’s Group Head of Research, Vahyala Kwaga, underscores the critical lessons drawn from a decade of fiscal analysis.
“Over the past decade, the State of States has evolved into Nigeria’s most authoritative subnational fiscal analysis.
“This 10th edition not only reflects the story of growth and imbalance but also underscores the urgent need for reform.
“The fiscal sustainability requires that states look inward, improving revenue systems, cutting waste, and prioritising infrastructure and human development investments that deliver long-term value,” he said.
While it has been 10 years since the BudgIT Foundation launched its State of States Fiscal Report, Nigerians’ fortunes have undergone significant change: most of that change has been negative.
The State of States has always meant to serve as more than just a fiscal health evaluation; it aims to provide significant evidence for citizens to hold their governments accountable.
“As we clock 10 years with this edition, it is hoped that subsequent editions will bring more of the people’s voices into the public governance framework, as they are meant to be at its centre,” Kwaga added.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
