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 Ikeja, Lagos 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, Rivers State Alhaji Hamma Adama Njabbari Mr. Adegbite Ademikanra Yola, Adamawa State Osogbo, Osun State Dr. Zaid Abubabar Mrs. Shade Omoniyi Kaduna, Kaduna State Ilorin, Kwara State 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, Cross River State Alhaji Ahmed Y. Muhammad Mr. Emeka Anthony Odo Lafia, Nasarawa State Enugu, 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, Jigawa State Kano, Kano State Dr. David Nzekwu Dr. David Nzekwu Awka, Anambra State Awka, Anambra State PROMOTED BY ORGANIZED BY PARTNER EVENT PARTICIPATE SPONSOR ADVERTISE Alford Conferences Limited WhatsApp/SMS/Call: +234 803 063 5853, +234 802 870 0235 www.alfordevents.com.ng Alford Events @AlfordEvents FROM THE PUBLISHER 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 Nigeria 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 Muhammadu Buhari 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.