Oyo State Records 42% IGR Growth in 2020

…made 3rd Highest Contribution to Nigeria’s IGR in 2020

Figures obtained from the National Bureau of Statistics have revealed that Oyo State recorded a 42 per cent growth in Internally Generated Revenue, IGR, for the year 2020.

According to the report released earlier today, Oyo state recorded ₦38.04 billion IGR, about ₦12 billion more than what was recorded in 2019.

Further analysis showed of the State’s IGR in the past 5 years revealed that Oyo had the greatest growth in IGR in the year 2020 despite the effects of the pandemic.

In 2016, the state recorded ₦18.88 billion IGR while in 2017 and 2018, ₦22.45 billion and ₦24.64 billion was recorded. The state recorded ₦26.75 billion IGR in 2019.

A breakdown of the States that made the greatest contribution to the nation’s IGR showed that Oyo state made the 3rd highest contribution to Nigeria’s IGR in 2020.

Lagos topped the chart with an addition of ₦20.3 billion. The Federal Capital Territory was second place with an addition of ₦17.5 billion. Oyo State ranked third as it added ₦11.3 billion to Nigeria’s IGR in 2020.