The Internally Generated Revenue (IGR) report at the State level for the Financial year 2017 rises to 931.23 billion. The amount represents 12 03 per cent increase year on year against N831.19 recorded in the same period of 2016. The recent report from National Bureau of Statistics (NBS) on the States IGR showed that in the second half year of 2017 total revenue generated by the states stood at N432.65 billion against N409.09 billion recorded in the first half of last year.
In 2018, operators expressed optimism that States IGR will benefit from the expected improvement in macroeconomic conditions. Meanwhile, operators said the recent rating affirmed to Nigeria by S&P Global Ratings reinforces the improving fundamentals of the economy and the country is likely to see improved ratings from other agencies if the macro-economic environment continues to progress at or above the current rate. S&P, Global Rating recently affirmed its ‘B/B’ long- and short-term sovereign credit ratings on Nigeria with a stable outlook. It also affirmed its long and short term Nigeria national scale ratings at ‘ngBBB/ngA-2’.
S&P anchored its decision on Nigeria’s moderate external indebtedness and relatively low general government debt stock, and non-oil-sector improvements supporting higher economic growth and fiscal revenues over the next 12 months. It is expected this will have a positive impact on the planned external borrowing of $2.8 billion to finance the 2018 federal budget.
