COVID-19 forces States’ IGR, allocations crash by N180.4bn

State governments may be currently grappling with varying degrees of financial concerns, following the N180.4bn crash in their internally generated revenues and the allocations they received from the Federation Accounts Allocation Committee.

An analysis of various IGR and FAAC reports obtained from the National Bureau of Statistics showed that the states’ total revenues dropped by N180.4bn in the first half of this year when compared to what they made in the second half of 2019.

Findings showed that the total IGR and federal allocations to the 36 states and the Federal Capital Territory in the second half of last year amounted to N1.914tn.

But this dropped to N1.121tn in the first half of 2020, indicating a crash of N181bn or 9.45 per cent when compared to the preceding half year’s revenue generation of the states.

Adeola Abejide

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