Zamfara Tops 2024 Revenue Collection Rankings in Nigeria – Report

Zamfara State has emerged as the leading state in internal revenue generation (IGR) growth in Nigeria, according to the 2024 BudgIT report. The annual report, published last Tuesday, evaluates the long-term budget performance and fiscal sustainability of each Nigerian state, highlighting Zamfara’s impressive leap in revenue collection.

In a statement, Zamfara State Governor’s spokesperson, Sulaiman Bala Idris, attributed this remarkable 240.44% increase in revenue growth to the state’s strategic shift away from relying solely on federal allocations. “This progress stems from deliberate policies aimed at boosting internally generated revenue through diversified economic strategies,” Idris stated.

Findings from the BudgIT Report

The BudgIT analysis, which assessed the budget performance of all 36 states, showed that Zamfara advanced from the 36th position in 2023 to the 26th position in 2024 in IGR rankings. The report credited the state’s robust revenue growth to improved collection mechanisms and economic diversification efforts.

The report detailed Zamfara’s financial achievements as follows:

• Revenue Surge: After experiencing a 49.75% decline in IGR in 2022, Zamfara rebounded in 2023, achieving a 240.22% increase in IGR, from ₦6.51 billion in 2022 to ₦22.16 billion in 2023.
• Revenue Breakdown: The state recorded significant increases across various revenue streams:

  • General Revenue grew by 142.26%, from ₦5.03 billion in 2022 to ₦12.18 billion in 2023.

• Licensing Fees surged by an astonishing 5,921.22%, from ₦22.78 million in 2022 to ₦1.37 billion in 2023.
• Service Revenue spiked by 3,610.38%, climbing from ₦82.44 million in 2022 to ₦3.06 billion in 2023.
• Fines and Penalties rose by 1,924.52%, reaching ₦491.32 million in 2023, up from ₦24.15 million in 2022.
• Sales Activities saw a 32.49% increase, moving from ₦772.06 million in 2022 to ₦1.02 billion in 2023.
• Other Taxes increased by 519.71%, with revenue from ₦412.03 million in 2022 rising to ₦2.55 billion in 2023.

Additional revenue was generated through rental income from government buildings, land leases, and returns on investments, contributing significantly to Zamfara’s economic outlook. The state has also prioritized economic expansion by exploring its natural resources in collaboration with the federal government.

Total Revenue Growth

In 2023, Zamfara’s total revenue reached ₦144.95 billion, a 65.35% increase from ₦87.68 billion the previous year. Although the state’s dependence on federal allocations remains high, it dropped from 90.52% in 2022 to 74.66% in 2023, showcasing a gradual shift toward financial independence.

Zamfara’s internal revenue contribution to its overall revenue rose sharply to 22.16% in 2023, up from just 9.48% in 2022. This development underscores the state’s commitment to reducing its dependence on federal allocations and solidifying its fiscal sustainability.