Increased dependence on FAAC allocations, as COVID-19 shrinks State IGR’s by 22% in two years

Borrowing by state governments and the responsibilities of trustees

Based on 2019 and 2020 full-year IGR data published by the National Bureau of Statistics (NBS), the Internally Generated Revenue (IGR) of the 36 states of the federation, including the Federal Capital Territory (FCT), declined by N37 billion, representing a 22.02 percent decline in two years. The

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