Lagos State collected the highest Internally-Generated Revenue (IGR) of N753.46 billion in 2021 followed by the FCT which collected N131.92 billion.

The National Bureau of Statistics (NBS) stated on Sunday in Abuja that in 2020, Lagos State also led other states in IGR collection when it got N660 billion, followed by Rivers at N117.19 billion.

In 2019, Lagos State also took the lead when it collected N646.61 billion again, followed by Rivers that collected N169.6 billion.

The NBS stated in its Internally Generated Revenue at States Level (2019 – 2021) report that the 36 states of the federation combined collected N1.64 trillion as IGR in 2019.

It stated that 64.65 per cent of the revenue collected by the states was from taxes.

The NBS added that the N1.64 trillion collected in 2019 declined by 4.65 per cent in 2020 when the states collected N1.56 trillion internally.

“The proportion of tax revenue in 2020 rose to 66.16 per cent, however,’’ it stated.

The NBS stated also that in 2021, the 36 states collected N1.9 trillion internally, representing a growth rate of 21.54 per cent over the 2020 revenue collections.

All Progressives Congress leader, Asiwaju Bola Tinubu, has told the party’s primary election screening committee how he revolutionised the finances of Lagos State.

He governed the state on the country’s return to democracy, from 1999 to 2007.

According to him, the state was earning N600m initially but the initiatives he engendered, which subsequent governors have been building upon, have translated the IGR to N51bn monthly.

He said, “There are three highways in the development of a nation. If you have gas or supplying diesel, electricity transmission is also a highway and communication.

“I could remember that I brought Eron to this nation. Telecommunication is now a success today in Nigeria. I brought Econet. I helped them, they now want to adopt 5G, we started it.

“Nigeria is rich. The essence of our livelihood must be placed on short-term, and medium-term values. They must produce values for us,” he said.

The presidential aspirant also recommended the development of Nigeria’s commodity market.

While encouraging Nigeria to “establish commodity exchange”, he said, “Primary and secondary seedlings must not be underdeveloped. Keep your silos during every production, save your products in the silos and dry them, keep the surplus, you can never lose.”

In a statement, Director, Media and Communication, Tinubu Campaign Organisation, Bayo Onanuga, claimed that “Tinubu impressed the panel during the screening process with the way and manner he answered and provided insight into many of the questions asked.”

The statement read, “Some of the questions bordered on his upbringing, educational and professional background.

“He confidently told the panel why he is qualified to fly the flag of APC as its presidential candidate.

“He cited his success as governor of Lagos State, raising the state’s internal revenue generation from a paltry N600M monthly, which has now grown to N51 billion today.

“He also cited his invitation to Enron to begin the first state-backed power generation in Nigeria and spoke on how Nigeria will need to treat the power transmission lines as a highway.

“Tinubu in his answers demonstrated vast knowledge in economic management and a perfect understanding of Nigeria’s political economy.

“The screening committee expressed satisfaction with Tinubu’s knowledge of the economy and sociopolitical issues that are affecting the country.”