Nigerias National Bureau of Statistics revealed that thirty-one (31) States recorded growth in Internal Generated Revenue while five (5) states which include (Akwa Ibom, Anambra, Bauchi, Osun and Taraba) recorded a decline at the end of 2017 Fiscal Year.
The net Federal Account Allocation Committee (FAAC) allocation in the year 2017 is put at N1.73 trillion while the total revenue available to the states is put at N2.67 trillion.
The full year 2017 state IGR figure hits N931.23bn compared to N831.19bn recorded in the year 2016. This indicates a growth of 12.03% year on year.
According to the 2017 IGR report released by the Statistical Office, at the end of H2 2017, total revenue generated by states was put at N432.65 billion as against N409.09 billion in H1 2017.
However, the value of foreign debt stands at $19.9bn while domestic debt hits N3.35 trillion at the end of 2017 full year respectively.
Here is the breakdown of 2017 IGR across the states
The report stated that the value of foreign debt stood at $19.9bn while domestic debt was N3.35tn at the end of 2017.
Recently, the Debt Management Office, DMO said the country’s debt profile stands at $70.92 billion as at 2017 few months after the country exited its worst economic recession in more than two decades.