In the last five years, the Internally Generated Revenue (IGR) from the Federal Capital Territory (FCT) Abuja increased to N301.75 billion, and the FCT minister, Malam Muhammad Musa Bello, has urged every stakeholder to work harder and push ahead of Lagos State’s IGR, a feat which he believes is achievable in the nearest future.
Lagos State in 2020 alone realised a total of N418.99 billion IGR.
According to Bello, who made the statement on Tuesday in his goodwill message at the FCT’s Internal Revenue Service (IRS) Stakeholders retreat held in Lagos: “The FCT is not faring badly, but it is not yet doing well too because we are performing far below our set expectations in terms of revenue generation.
The minister who was represented by the FCTA Permanent Secretary, Olusade Adesola, added that “Our IGR in terms of per capita last year actually placed us next to Lagos, ahead of Rivers State. However, in terms of the total amount of IGR for 2020, FCT generated little over N102 billion and was ranked third behind Rivers State, which realised N117.19 billion.”
Earlier, Adesola, in his speech, gave a breakdown of the FCT revenue generated from 2016 to 2020, stating that in 2016, the amount generated was N31.187 billion, placing FCT at sixth place among states.
In 2017, the turnover was N14,620 million with position 15; by 2018, revenue had increased to N 59 billion placing the FCT in fourth place.
In 2019, the amount generated was N 94 billion, ranking third; In 2020, IGR rose to N102. 944 billion.
