Lagos leads Nigeria in revenue generation with N815.86 Billion in 2023 – NBS Report

This figure represents 33.6 percent of the nation’s total IGR, underscoring Lagos’s critical role in the country's economy.

Lagos State has retained its top spot as Nigeria’s highest revenue-generating state in 2023, recording an internally generated revenue (IGR) of N815.86 billion.

According to a recent report by the National Bureau of Statistics (NBS), this figure represents 33.6 percent of the nation’s total IGR, underscoring Lagos’s critical role in the country's economy.

The report, published on Monday, highlighted Lagos’s financial dominance within its region, revealing that the state generated 73 percent of the entire IGR of the southwest region.

These figures emphasize Lagos’s standing as Nigeria’s economic powerhouse, driven by its thriving commercial activities, expansive infrastructure, and vast population.

With its considerable contribution, Lagos continues to set a high bar for revenue generation among Nigerian states, providing a substantial portion of the funds that support the country’s economic growth and development.