Business

Lagos Leads, Bayelsa, Others Come Bottom As Bureau Of Statistics Releases 2022 IGR [Full List]

Published

2 years ago

October 24, 2023

The National Bureau of Statistics, on Monday, said a total of N1.93 trillion was generated across the 36 states in Nigeria, including the Federal Capital Territory in 2022 Internally Generated Revenue.

The data stated Lagos, Rivers and FCT top the list with N651.15 billion, N172.89 billion, and N124.4 billion, respectively while the least states on the list are Kebbi (N9.1 billion), Taraba (N10.2 billion), Yobe (N10.5bn).

NBS further noted that the taxes sub-category recorded in the period included Pay As Your Earn, direct assessment, road taxes, stamp duties, capital gain tax, withholding taxes, other taxes and LGAs revenue.

It said, “PAYE was the most contributing revenue source during the year, recorded 67.62 per cent share to the total tax generated revenues nationwide. While capital gains tax was the least in the year under review with 0.24 per cent share to total tax revenue

“Oyo, Lagos, and Jigawa states were the three leading states with the highest LGA revenue reported during the year. The states recorded N11.83bn, N11.51bn, and N8.70bn respectively.”

See full of states IGR in 2022 below:

1. Lagos – N651.2bn
2. Rivers – N172.8bn
3. FCT – N124.4bn
4. Ogun – N120.6bn
5. Delta – N85.9bn
6. Oyo – N62.2bn
7. Kaduna – N58.1bn
8. Edo – N47.5bn
9. Kano – N42.5bn
10. Kwara – N35.8bn
11. Akwa Ibom – N34.8bn
12. Anambra – N33.9bn
13. Ondo – N32.6bn
14. Enugu – N28.7bn
15. Bauchi – N25.5bn
16. Osun – N24.6bn
17. Sokoto – N23.6bn
18. Cross River – N21.1bn
19. Jigawa – N20.5bn
20. Abia – N20.1bn
21. Zamfara – N19.4bn
22. Imo – N19.3bn
23. Nasarawa – N19.3bn
24. Borno – N19.1bn
25. Kogi – N18.2bn
26. Ekiti – N17bn
27. Niger – N16.9bn

Top 10 least performing states
28. Benue – N15.9bn
29. Plateau – N15.9bn
30. Bayelsa – N15.9bn
31. Gombe – N13.6bn
32. Adamawa – N13.2bn
33. Katsina – N13bn
34. Ebonyi – N12.4bn
35. Yobe – N10.5bn
36. Taraba – N10.2bn
37. Kebbi – N9.1bn

Business

Naira Appreciates Against US Dollar After Highest Dip

Published

2 days ago

November 21, 2025

Editor

The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.

Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.

This represents a gain of N2.06 against the dollar on a day-to-day basis.

Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.

The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.

Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.

Business

Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

Published

4 days ago

November 19, 2025

Editor

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.

The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.

This means that the Naira gained N0.6 against the dollar on a day-to-day basis.

Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.

Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.

Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.

Business

Dangote Sugar Announces South New CEO

Published

4 days ago

November 19, 2025

Editor

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.

This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.

The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.

Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.

“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.