www.alfordevents.com.ng NSIS 002 August 2020

OFFICIAL MAGNAZINE OF NIGEURIAN STATES IGER SUMMIT

GOVERNORS Fastest Growing S T A T E S

EXCELLENCE & LEADERSHIP IN IGR AWARDS LAGOS Maintains Dominance in IGR EXCELLENCE LEADERSHIP IN IGR AWARD IN IGR AWARD 2019/2020 2019/2020

Presented to the Executive Chairperson Presented to the Executive Chairperson of the of the Internal Revenue Service of the Internal Revenue Service of the Top 12 Most Top 12 States in IGR Growth in 2019 Independent States in Revenue in 2019 Alhaji Ali Usman Ahmad Mr. Hamzat Ayodele Subair Damaturu, Yobe State , Hajiya Lubabatu Isah Mayana Mr. Adekunle M. Adeosun Gusau, Zamfara State Abeokuta, Ogun State Mr. Adegbite Ademikanra Alhaji Abdullahi Attah Osogbo, Osun State Abuja, FCT Mr. Andrew Ayabam Mr. ThankGod Adoage Norteh Markurdi, Benue State Port Harcourt, Alhaji Hamma Adama Njabbari Mr. Adegbite Ademikanra Yola, Adamawa State Osogbo, Osun State Dr. Zaid Abubabar Mrs. Shade Omoniyi , Ilorin, Alhaji Iliyasu Arzika Jega Dr. Zaid Abubabar Birnin Kebbi, Kebbi State Kaduna, Kaduna State Alhaji Aliyu Inda Salami Mr. Akpanke Ogar Lokoja, Kogi State Calabar, Alhaji Ahmed Y. Muhammad Mr. Emeka Anthony Odo Lafia, Nasarawa State , Enugu State Mr. Emeka Anthony Odo Mr. Tolu Adegbie Enugu, Enugu State Akure, Ondo State Executive Chairman, Internal Revenue Alhaji Abdurrazak Datti Salihi Service, Dutse, Kano, Dr. David Nzekwu Dr. David Nzekwu Awka, Anambra State Awka, Anambra State

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Yobe State grew its IGR the fastest in 2019, while Lagos remains the most independent state in revenue

hile formally receiving the Class of 2019 State Governors in last year, the Vice President Wof the country, Prof. Yemi Osinbajo, charged them to explore ways of improving their internally generated revenue (IGR) in the next few years. In his words, "It was possible for states to generate significant revenues from agriculture. After all, the mind boggling achievements of the regions in our history were without oil money, but mainly from agriculture and taxes." These words of Prof. Osinbajo resonate very well with us at Alford Conferences Limited as we pursue our self- imposed mandate to give far greater national attention to the subject of IGR among the 36 states and the FCT. REVENUE magazine is one of our tools to do this. We started publishing it in July 2020, and we plan to grow its pagination slowly and steadily in the next several months. In due course, an e-copy of the publication will be available online. REVENUE is the official voice of the annual Nigerian States IGR Summit, a strategic leadership event designed to Frederick Apeji spur greater competition among the FCT and the 36 states of Chairman/Publisher Nigeria, and to help them to substantially increase their IGR. Alford Conferences Limited Copies are circulated to taxation agencies nationwide. We also Osun, Kwara, Kaduna, Cross River, Enugu, Ondo, produce stand-alone editions for various promotional events Anambra and Kano. and projects. Our award will therefore go to Alhaji Ali Usman Ahead of the inaugural Nigerian States IGR Summit, Ahmad, the Executive Chairman of Yobe State the magazine is embarking on a nationwide road show to Board of Internal Revenue, and the others whose honour deserving revenue agencies in the 36 states and FCT. states performed excellently last year. We shall also As we go, we shall present an Excellence in IGR Award to the honour Mr. Hamzat Ayodele Subair, the Executive 12 fastest growing states in IGR in 2019: Yobe, Zamfara, Chairman of Lagos Internal Revenue Service Osun, Benue, Adamawa, Kaduna, Kebbi, Kogi, Nasarawa, (LIRS), and the others whose states lead the way in Enugu, Jigawa and Anambra. We are quite excited about the the overall quantum of IGR in the year under review. growth figures of these states. We shall similarly Leadership in

IGR Award to the 12 most independent states in revenue in the @AlfordEvents country for the 2019/2020 period: Lagos, Ogun, FCT, Rivers, Alford Events

NUE | 03 Lagos Maintains its Dominance in Internally Generated Revenue (IGR)

t is the smallest in landmass, but Lagos is the most the South East N96 billion and the North East N51 billion. economically important state in Nigeria. It is the leading According to an analysis of the NBS report by REVENUE Ifinancial centre in Nigeria and the rest of West Africa. It is magazine, the organizer of the annual Nigerian States IGR the most economically viable state in the country, generating Summit, the 12 fastest growing states in IGR in 2019 were 77% of its own revenue as at December 31, 2019. Yobe, Zamfara, Osun, Benue, Adamawa, Kaduna, Kebbi, With an estimated state GDP of $150 billion in 2017, if it Kogi, Nasarawa, Enugu, Jigawa and Anambra. And the 12 was an independent country, Lagos State would be the 3rd most independent states in revenue in the country last year largest economy in Sub-Saharan Africa (SSA), behind only were Lagos, Ogun, FCT, Rivers, Osun, Kwara, Kaduna, Cross Nigeria and South Africa. River, Enugu, Ondo, Anambra and Kano. In most economic indices, Lagos dwarfs the FCT and the The preferential legacy of Lagos as the federal capital city remaining 35 states in Nigeria. Its GDP in 2017 was more than of Nigeria from pre-independence times till 1991 has five times that of FCT, about 10 times that of Rivers State, continued to work in its favour. About 29 years after the capital about 20 times that of Kano, and about 50 times that of was officially relocated to from Lagos to Abuja, the former Zamfara. remains the major manufacturing centre in the country. All the Based on the latest published figures from the National country's registered commercial banks and majority of its Bureau of Statistics (NBS), Lagos State alone generated more other financial institutions remain headquartered there. internal revenue that the rest of the South West Zone A further (and bigger), blessing for the state has been the combined. Its output in IGR was also more than what any one audacity and stability of its economic reforms, started by its of the other five zones in Nigeria generated in 2019. first governor in the 4th Republic, Asiwaju Bola Ahmed In the NBS annual report titled, "Internally Generated Tinubu, and centered around the goal to make Lagos Revenue at State Level (Quarter 4 2019 & Full Year 2019)", economically independent of the Federal Government of dated May 2020, Lagos had N398 billion compared to the rest Nigeria (FGN). Its current governor, Mr. Babajide Sanwo Olu, of the South West Zone which generated N154 billion. During has inherited a beautiful platform upon which he can expand the year under review the South-South generated N306 billion, the formidable economic clout of the state in the years ahead. the North Central N180 billion, the North West N149 billion,

NUE | 04 Cover Story The Governors of the Fastest Growing States in IGR in 2019

YOBE ZAMFARA OSUN BENUE Mai Mala Buni Bello M. Matawalle Adegboyega Oyetola Samuel Ortom

ADAMAWA KADUNA KEBBI KOGI Ahmadu Umaru Fintiri Nasir Ahmad el-Rufai Abubakar Atiku Bagudu Yahaya Bello

NASARAWA ENUGU JIGAWA BENUE Abdullahi Sule Ifeanyi Ugwuanyi Muhammad B. Abubakar Willie Obiano

NUE | 05 Numbers & Insights

We have a vast agricultural land Sub-Saharan Africa especially in Northern Nigeria. By Population

The 19 Northern states plus FCT occupy 78.65% of Nigeria's African Democratic Congress (ADC), one of Nigeria's opposition landmass, leaving the 17 Southern states with 21.35%. The North political parties, has for several years now been brandishing its East is the largest among the six zones, with 28.88% of the slogan that "A Super Power Nigeria is Possible in 20 Years". The party's helmsman, Mr. Ralphs Okey Nwosu, writes and speaks country's total area. Less than 20% of the vast arable agricultural passionately about this subject from time totime. Mr. Nwosu is land in the country is currently being used. Nigeria has a huge obviously looking at how to take full advantage of the population natural incentive to be a great agricultural and agribusiness country, of Nigeria, the largest in Sub-Saharan Africa (SSA), and the 7th providing jobs for millions of its youths. largest in the world.

1. Niger North Central Zone 76,363 sqm 1. Nigeria West Africa 200,963,599 2. Borno North East Zone 57,799 sqm 2. Ethiopia East Africa 112,078,730 3. Taraba North East Zone 54,473 sqm 3. DR Congo Central Africa 86,790,567 4. Bauchi North East Zone 49,119 sqm 4. South Africa Southern Africa 58,558,270 5. Yobe North East Zone 45,502 sqm 5. Tanzania East Africa 58,005,463 6. Kaduna North West Zone 40,053 sqm 6. Kenya East Africa 52,573,973 7. Zamfara North West Zone 39,762 sqm 7. Uganda East Africa 44,269,594 8. Angola Southern Africa 31,825,295 8. Adamawa North East Zone 36,917 sqm 9. Ghana West Africa 30,417,856 9. Kwara North Central Zone 36,825 sqm 10. Mozambique Southern Africa 30,366,036 10. Kebbi North West Zone 36,800 sqm Source: www.worldometers.info (November 30, 2019) Source: www.wikipedia.org. Analysis by: REVENUE Magazine Where is the Foreign Are equities viable revenue Direct Investment (FDI)? options for Nigerian states?

Speaking generally, where should President Should the state governments across the country consider or any of the state governors in Nigeria go to in search of FDI? investing in the equities of stable and profitable companies on the The UN Conference on Trade and Development (UNCTAD) Nigerian Stock Exchange (NSE) as a long term revenue option? publishes an annual World Investment Report (WIR) which has the Based on the July 24, 2020 data by Nairametrics Research, a market answers. The Netherlands, a pleasant surprise (to us) in this research firm, here are the top 10 listed companies by market cap. ranking, has nearly $2.5 trillion invested in the rest of the world. The performances of these companies are subject to the daily and Here are the top 10 countries in 2018 in terms of FDI Outward weekly dynamics of the bourse. Stock.

1. USA North America $6.474 trillion 1. MTN Nigeria Telecoms N2.4 trillion 2. China East Asia $3.808 trillion 2. Dangote Cem. Manufacturing N2.3 trillion 3. Netherlands Western Europe $2.427 trillion 3. BUA Cement Manufacturing N1.4 trillion 4. UK Western Europe $1.696 trillion 4. Airtel Nigeria Telecoms N1.3 trillion 5. Japan East Asia $1.665 trillion 5. Nestle Manufacturing N931.4 billion 6. Germany Western Europe $1.645 trillion 6. GTBank Banking N637.2 billion 7. France Western Europe $1.507 trillion 7. Zenith Bank Banking N486.6 billion 8. Canada North America $1.325 trillion 8. Stanbic IBTC Banking N315.1 billion 9. Switzerland Western Europe $1.263 trillion 9. Nig. Brew. Manufacturing N247.9 billion 10. Singapore South East Asia $1.021 trillion 10. Access Bank Banking N220.4 billion

Source: World Investment Report 2019 Source: www.nairalytics.com

NUE | 06 Tables Internally Generated Revenue (IGR) in Nigerian States

Biggest States: December 31, 2018

No. Zone State Capital Governor IGR 2018 1. South W est Lag os Ikeja Akinwunmi Ambode N382,181,548,627 2. South-South Ri vers PH Ezenwo Nyesom Wike N112,780,373,912 3. South W est Ogun Abeokuta Ibikunle Amosun N84,554,199,59 4 4. North Central FCT Abuja Muhammed Bello N65,519,663,65 5

5. South-South Delta Asaba Ifeanyi Okowa N58,439,598,672

6. North W est K ano Kano N44,107,375,284 7. North W est Kaduna K aduna Nasir Ahmad el-Rufai N29,446,386,92 5 8. South-South Edo Benin -City Godwin Obaseki N28,425,496,842 9. South W est Ondo Akure Rotimi Akeredolu N24,788,059,725 10. South W est Oyo Ibadan Abiola Ajimobi N24,635,074,074 11. South-South Akwa Ibom Uyo Udom Gabriel Emman uel N24,210,810,10 3 12. North Central K wara Ilorin Abdulfatah Ahmed N23,046,944,29 6 13. South East En ugu Enugu Ifeanyi Ugwuanyi N22,145,937,216 14. South East Anambra Awka Will ie Obiano N19,305 ,267,647 15. North W est Sok oto Sok oto Aminu W aziri T ambauwal N18,762,009,020 16. South-South Cross Ri ver Calabar Benedict Ayade N17,552,112,937 17. South East Imo Ow erri Rochas Okorocha N14,884,271,810

18. South East Abia Umuahia Okezie Ikpeazu N14,834,904,447

19. South-South Ba yelsa Yenag oa Henry Seriak e Dickson N13,636,545,71 7 20. North Central Plateau Jos Simeon Bak o Lalong N12,726,479,548 21. North Central K ogi Lok oja Yaha ya Bello N11,334,113,743 22. North Central Ben ue Makurdi Sam uel Ortom N11,215,482,725 23. North Central Nig er Minna Abubakar Sani Bello N10,432,190,95 7 24. South W est Osun Osogbo Adegboyeg a Oyetola N10,381,663,67 8 25. North East Bauc hi Bauchi Muhammed Abubakar N9,690,832,17 8 26. North W est Jig awa Dutse Muhammad B. Abubakar N9,246,250,836 27. North W est Zamfara Gusau Abdulaziz Abubakar Yari N8,206,695,592 28. North Central Nasara wa Lafia Umaru Tanko Al -Makura N7,566,920,657 29. North East Gombe Gombe Ibrahim Dankw ambo N7,343,549,621

30. North West Katsina Katsina Aminu Bello Masari N6,961,870,329

31. North East Bor no Maiduguri Kashim Shettima N6,524,300,904 32. South W est Ekiti Ado -Ekiti Kayode Fayemi N6,465,374,25 1 33. North East Adama wa Yola Bindo w Jibrilla N6,204,876,66 6 34. South East Ebonyi Abakaliki Da ve Umahi N6,144,587,06 6 35. North East Taraba Jalingo Darius Ishaku N5,968,809,583 36. North West Kebbi Birnin- Kebbi Abubakar Atiku Bagudu N4,881,961,006 37. North East Yobe Damaturu Ibrahim Geidam N4,382,259,456 Total N1,168,934,799,299 Source: National Bureau of Statistics, www.nigerianstat.gov.ng Analysis By: REVENUE Magazine

NUE | 07 Tables Internally Generated Revenue (IGR) in Nigerian States

Biggest States: December 31, 2019

No. Zone State Capital Governor IGR 2019 1. South W est Lag os Ikeja Babajide Sanw o-Olu N398,732,246,493 2. South-South Ri vers PH Ezenwo Nyesom Wike N140,398,744,30 3 3. North Central FCT Abuja Muhammed Bello N74,564,180,835 4 . South W est Ogun Abeokuta Dapo Abiodun N70,922,590,49 6

5. South-South Delta Asaba Ifeanyi Okowa N64,678,796,992

6. North W est Kaduna K aduna Nasir Ahmad el-Rufai N44,956,576,583 7. North W est K ano Kano Abdullahi Umar Ganduje N40,593,701,332 8. South-South Akwa Ibom Uyo Udom Gabriel Emman uel N32,291,014,772 9. South East En ugu Enugu Ifeanyi Ugwuanyi N31,069,466,913 10. North Central K wara Ilorin AbdulRahman AbdulRazaq N30,646,731,409 11. South W est Ondo Akure Rotimi Akeredolu N30,135,881,918 12 . South-South Edo Benin -City Godwin Obaseki N29,478,406,024 13 . South W est Oyo Ibadan Oluw aseyi Makinde N26,746,460,236 14. South East Anambra Awka Will ie Obiano N26,369,195,865 15 . South-South Cross Ri ver Calabar Benedict Ayade N22,597,063,883 16 . North W est Sok oto Sok oto Aminu Waziri T ambauwal N19,005,093,541

17. South West Osun Osogbo Adegboyega Oyetola N17,922,394,523

18 . North Central Ben ue Makurdi Sam uel Ortom N17,850,480,386 19 . North Central Plateau Jos Simeon Bak o Lalong N16,480,111,594 20 . North Central K ogi Lokoja Yaha ya Bello N16,389,026,389 21 . South East Imo Ow erri Emeka Ihedioha N16,095,299,621 22 . South-South Ba yelsa Yenag oa Henry Seriak e Dickson N16,342,762,532 23. North W est Zamfara Gusau Bello M. Matawalle N15,416,043,400 24 . South East Abia Um uahia Okezie Ikpeazu N14,769,307,659 25 . North W est Jig awa Dutse Muhammad B. Abubakar N12,926,658,146 26 . North Central Nig er Minna Abubakar Sani Bello N12,765,034,972 27 . North East Bauc hi Bauchi Bala Muhamma d N11,696,955,885 28. North Central Nasara wa Lafia Abdullahi Sule N10,858,822,423

29. North East Adamawa Yola Ahmadu Umaru Fintiri N9,704,660,185

30 . South W est Ekiti Ado -Ekiti Kayode Fayemi N8,546,875,648 31 . North W est Katsina K atsina Aminu Bello Masari N8,496,742,119 32 . North East Y obe Damatur u Mai Mala Buni N8,444,634,099 33 . North East Bor no Maiduguri Babag ana Zulum N8,175,248,326 34 . South East Ebonyi Abakaliki Da ve Umahi N7,455,294,676 35 . North W est K ebbi Birnin- Kebbi Abubakar Atiku Bagudu N7,367,334,837 36. North East Gombe Gombe Muhammad Inuwa Yahaya N6,803,064,814 37. North East Taraba Jalingo Darius Ishaku N6,533,106,447 Total N1,334,226,010,276 Source: National Bureau of Statistics, www.nigerianstat.gov.ng Analysis By: REVENUE Magazine

NUE | 08 Tables Internally Generated Revenue (IGR) in Nigerian States

Fastest Growing State in IGR in 2019

Source: National Bureau of Statistics, www.nigerianstat.gov.ng Analysis By: REVENUE Magazine

NUE | 09 Tables Internally Generated Revenue (IGR) in Nigerian States

Most Independent States in Revenue in 2019

No. State Revenue 2019 F AAC 2019 IGR 2019 % IGR 1. Lag os N516,615,866,457 N117,883,619,964 N398,732,246,493 77.18% 2. Ogun N109,633,225,014 N38,710,634,518 N70,922,590,496 64.70% 3. FCT N146,469,449,837 N71,905,269,001 N74,564,180,835 50.91%

4. Rivers N298,848,039,090 N158,449,294,788 N140,398,744,303 46.98%

5. Osun N42,144,667,492 N24,222,272,968 N17,922,394,523 42.53% 6. Kw ara N73,079,258,268 N42,432,526,859 N30,646,731,409 41.94% 7. Kaduna N112,057,483,887 N67,100,907,304 N44,956,576,583 40.12% 8. Cross Ri ver N58,909,943,121 N36,312,879,238 N22,597,063,883 38.36% 9. En ugu N83,054,409,883 N51,984,942,970 N31,069,466,913 37.41% 10. Ondo N88,062,930,800 N57,927,048,891 N30,135,881,918 34.22% 11. K ano N123,078,769,288 N82,485,067,955 N40,593,701,332 32.98% 12. Anambra N80,263,058,086 N53,893,862,221 N26,369,195,865 32.85% 13. Oy o N82,547,064,397 N55,800,604,161 N26,746,460,236 32.40%

14. Edo N94,158,096,170 N64,679,690,145 N29,478,406,024 31.31%

15. Plateau N58,704,347,785 N42,224,236,191 N16,480,111,594 28.07% 16. Zamfara N57,178,342,126 N41,762,298,727 N15,416,043,400 26.97% 17. Sok oto N74,481,479,367 N55,476,385,826 N19,005,093,541 25.52% 18. Ben ue N72,190,777,108 N54,340,296,718 N17,850,480,386 24.73% 19. K ogi N68,725,301,182 N52,336,274,793 N16,389,026,389 23.85% 20. Delta N283,961,690,922 N219,282,893,931 N64,678,796,992 22.78% 21. Imo N72,181,397,908 N56,086,098,287 N16,095,299,621 22.30% 22. Abia N66,809,176,283 N52,039,868,625 N14,769,307,659 22.10% 23. Nasara wa N55,724,681,874 N44,865,859,451 N10,858,822,423 19.49%

24. Nig er N69,212,946,723 N56,447,911,751 N12,765,034,972 18.44% 25. Bauc hi N64,054,080,225 N52,357,124,340 N11,696,955,885 18.26% 26. Jig awa N71,784,839,462 N58,858,181,316 N12,926,658,146 18.01% 27. Ekiti N49,833,061,578 N41,286,185,930 N8,546,875,648 17.15% 28. Adama wa N58,043,362,283 N48,338,702,097 N9,704,660,185 16.72% 29. Akwa Ibom N204,266,552,046 N171,975,537,275 N32,291,014,772 15.80% 30. Ebonyi N52,082,453,419 N44,627,158,742 N7,455,294,676 14.31% 31. Gombe N47,822,946,080 N41,019,881,265 N6,803,064,814 14.23% 32. Y obe N60,050,717,778 N51,606,083,679 N8,444,634,099 14.06% 33. Taraba N53,048,458,598 N46,515,352,151 N6,533,106,447 12.32%

34. Kebbi N60,270,587,743 N52,903,252,906 N7,367,334,837 12.22% 35. Katsina N71,753,647,683 N63,256,905,564 N8,496,742,119 11.84% 36. Borno N69,888,739,118 N61,713,490,792 N8,175,248,326 11.70% 37. Bayelsa N156,472,126,469 N140,129,363,937 N16,342,762,532 10.44%

Source: National Bureau of Statistics, www.nigerianstat.gov.ng Analysis By: REVENUE Magazine

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ABOUT US REVENUE is the official magazine of the annual Nigerian States IGR Summit, a strategic leadership event designed to spur greater competition among Nigerian states, in the process, helping them to substantially increase their internally generated revenue (IGR). REVENUE is published as a hybrid, with a web version posted every month on www.alfordevents.com.ng. The print version is circulated to taxation agencies in the FCT and the 36 states. We also produce stand-alone editions of REVENUE for various marketing and promotional events and projects.

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