Ogun Records Shortfall in Projected IGR for the First Quarter of This Year

The Internally Generated Revenue (IGR) of the Ogun State Government in the first quarter of this year, has fallen far below the projected revenue for the three month period.

An analysis of a report of the IGR released by SBM Intelligence, shows that the state projected an IGR of N210.25 billion for the whole of the year.

But in the first three months of this year, it recorded an IGR totaling N24.56 billion, out of N52.56 billion projected for the three month period.

The actual N24.56 billion actual IGR, represents 11.67 per cent of the projected IGR for the first quarter of the year.

The report, however, said only Lagos and Ogun out of Nigeria’s 36 states, were able to generate IGR higher than the statutory allocation they received from the federation account between 2017 and 2020.

According to SBM Intelligence, only the two states depended less on federation accounts to run their services during the four year period.

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According to the report, the remaining 34 states, including Rivers, Delta and Akwa Ibom, and generated IGR lower than the statutory allocation from the federation account during the period.

For instance, in 2018, Ogun State recorded IGR totaling N84.56 billion, but received only N39.64 billion from the federation account.

Recently, states published their Q1 budget performance reports. With four quarters in a year, it is presumed that states should have generated one-quarter (25%) of their projected revenue in each quarter. However, from the available data, a number of states fell short of that 25% revenue projection for the first quarter.

This wide-ranging low-budget performance in the first quarter suggests that some states may record a low-budget performance if the events remain the same in the other quarters of the year.