•Governor Babajide Sanwo-Olu of Lagos State and Naira notes
Lagos State generated more Internally Generated Revenue than 22 other states combined in 2025, according to the National Bureau of Statistics.
The state generated N1.77 trillion during the year, while the 22 states ranked below the top 15 jurisdictions collectively generated N909.35 billion.
The NBS disclosed this in its 2025 Internally Generated Revenue Report, which showed that the 36 states and the Federal Capital Territory generated a combined N5.15tn in 2025, representing a 40.93 per cent increase from N3.65tn recorded in 2024.
Lagos’ N1.77tn was the highest revenue recorded by any state or the FCT during the year.
Rivers followed with N428.42bn, while Enugu recorded N406.77bn. The Federal Capital Territory generated N356.34bn, while Ogun State recorded N252.36bn.
Delta was next with N202.49bn, followed by Edo with N132.21bn, Oyo with N103.25bn, Kano with N102.26bn and Akwa Ibom with N100.80bn.
The NBS data showed that Lagos’ revenue was more than the combined revenue of the 22 jurisdictions from Imo to Yobe in the ranking.
The 22 states and their 2025 IGR figures were:
1. Katsina — N64.29bn
2. Ondo — N60.32bn
3. Cross River — N58.64bn
4. Ekiti — N57.09bn
5. Anambra — N57.03bn
6. Osun — N56.84bn
7. Bauchi — N52.79bn
8. Bayelsa — N50.30bn
9. Plateau — N45.10bn
10. Gombe — N43.96bn
11. Kogi — N43.94bn
12. Imo — N43.65bn
13. Borno — N36.36bn
14. Adamawa — N33.76bn
15. Nasarawa — N32.57bn
16. Kebbi — N31.23bn
17. Zamfara — N30.07bn
18. Benue — N29.57bn
19. Taraba — N28.16bn
20. Sokoto — N20.48bn
21. Ebonyi — N17.18bn
22. Yobe — N16.01bn
Together, the 22 states generated about N909.35bn, meaning Lagos’ N1.77tn was about N859.85bn higher than their combined revenue.
Beyond Lagos, the NBS report showed that the top 15 jurisdictions generated a combined amount of more than N4.24tn.
Rivers’ N428.42bn was the second-highest figure, while Enugu’s N406.77bn placed the South-East state third overall.
The FCT ranked fourth with N356.34bn, followed by Ogun, Delta, Edo, Oyo, Kano, Akwa Ibom, Kwara, Kaduna, Abia, Jigawa and Niger.
At the bottom of the table, Yobe generated N16.01bn, while Ebonyi recorded N17.18bn and Sokoto N20.48bn.
The NBS said the total revenue comprised tax revenue and revenue generated by Ministries, Departments and Agencies.
Tax revenue stood at N3.79tn, while MDAs generated N1.36tn.
PAYE accounted for N2.64tn of the tax revenue, followed by withholding tax at N503.46bn and other taxes at N300.21bn.
The report also showed that direct assessment generated N112.65bn, stamp duties N111.57bn, road taxes N49.88bn and capital gains tax N12.40bn.
Overall, the 36 states and the FCT generated N5.149 trillion in 2025.
