The Enugu State Government recorded an Internally generated Revenue of N7 billion for the first quarter of the year.
This was disclosed in a statement by the State Ministry of Budget and Planning on Monday in its Budget Performance Report. The figure represents 24.4% of its N29.2 billion target for the year, according to the News Agency of Nigeria.
The Budget report disclosed that revenues from Federal Account and Value Added Tax (VAT) were N13 billion, representing 19.7% against the N65.7 billion projection for the 2021 fiscal year. It added that revenues show inflows of N20.1 billion within the first quarter of 2021 as the figure represents 13% performance of the 2021 budgeted inflows of N154.8 billion, while aggregate recurrent expenditure within the same time stood at N11.6 billion.
“The sum of N9.1 billion was the actual expenditure for personnel. This signifies 23. 9 % performance when compared to an approved budget of N38.1 billion.
“The sum of N1.9 billion was actual overhead spent in the Q1 2021 representing 7.7 % performance against a budgeted overhead of N25 billion,” it stated.
The report stated that the state government spent N547.8 million in debt servicing and similar transactions.
“This translates to 9.8 % performance when compared to the budgetary projection of N5.6 billion for the fiscal year,” it added.
Enugu State Government revealed that the first quarter of the year has seen constant payment of staff salaries and allowances, adding that there have been capital investments during the period and hopes for “a remarkable departure from the first quarter performances in the coming quarters of 2021.”
The 36 states and the Federal Capital Territory generated a sum of N1.31 trillion as Internally generated revenue (IGR) in 2020. States generated N1.09 trillion from taxes in the year 2020, accounting for 83.3% of the total IGR received in the year.
Tax revenue also declined, when compared to N1.11 trillion collected in the previous year. This represents a 2.25% decline year on year.
Lagos State recorded the highest Internally Generated Revenue of N418.99 billion, accounting for 32.1% of the total and closely followed by Rivers State with N117.19 billion.
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