Lagos State has once again proven its financial strength by raking in over ₦1.2 trillion in Internally Generated Revenue (IGR) for the year 2024. This makes it the top-performing state in Nigeria when it comes to generating its own income, without relying solely on federal allocations.
According to the latest report released by the National Bureau of Statistics (NBS), all 36 states plus the Federal Capital Territory (FCT) collectively generated a total of ₦3.6 trillion in 2024. This marks a huge increase of nearly 50% compared to the ₦2.43 trillion recorded in 2023.
Unsurprisingly, Lagos contributed the largest chunk of that total with ₦1.26 trillion—about one-third of the entire amount generated nationwide.
Here’s a quick look at the top 5 revenue-generating states for 2024:
- Lagos: ₦1,261,556,415,048.56
- Rivers: ₦317,303,986,832.38
- FCT: ₦282,364,055,025.74
- Ogun: ₦194,933,884,872.57
- Enugu: ₦180,500,141,598.36
These figures show just how far ahead Lagos is compared to the rest, with Rivers and the FCT following at a distance.
On the other end of the spectrum, a few states are still struggling to boost their IGR. The bottom five states include:
- Adamawa: ₦20.3 billion
- Taraba: ₦17.5 billion
- Kebbi: ₦17 billion
- Ebonyi: ₦13.2 billion
- Yobe: ₦11.1 billion
These numbers reveal the economic gap between states, highlighting the need for improved revenue strategies in the lower-performing regions.
Here’s the full IGR ranking from highest to lowest for 2024:
- Lagos – ₦1.26 trillion
- Rivers – ₦317.3 billion
- FCT – ₦282.4 billion
- Ogun – ₦194.9 billion
- Enugu – ₦180.5 billion
- Delta – ₦157.8 billion
- Edo – ₦91.2 billion
- Akwa Ibom – ₦75.8 billion
- Kano – ₦74.8 billion
- Kaduna – ₦71.6 billion
- Kwara – ₦71.2 billion
- Bayelsa – ₦64 billion
- Oyo – ₦65.3 billion
- Jigawa – ₦59.5 billion
- Osun – ₦54.8 billion
- Cross River – ₦47 billion
- Anambra – ₦42.7 billion
- Abia – ₦40 billion
- Katsina – ₦39.2 billion
- Niger – ₦34.7 billion
- Bauchi – ₦32.4 billion
- Kogi – ₦32 billion
- Adamawa – ₦20.3 billion
- Taraba – ₦17.5 billion
- Kebbi – ₦17 billion
- Ebonyi – ₦13.2 billion
- Yobe – ₦11.1 billion
This year’s report shows major improvements in state-level revenue collection, but also reminds us that some states still have a long way to go. With Lagos leading the charge, there’s a lot others can learn to strengthen their own economic base.
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