The reality of Covid-19 pandemic on the economy is becoming more evident as the internally generated revenue (IGR) of Nigeria’s 36 states and the federal capital territory dropped by 11.7 percent in the first half of the year.
This is according to a report released by the Nigeria Bureau of statistics (NBS) on the internally generated revenue of the 36 states on Tuesday.
The total internally generated revenue in the first half-year of 2020 is N612.87 billion.
When compared to the report of 2019, this figure is lower when compared to N693.91 billion recorded in 2019.
“The 36 states and FCT IGR figure hits N612.87bn in H1 2020 compared to N693.91bn recorded in 2019. This indicates a negative growth of -11.7% year on year,” the report read.
More to follow…