Zamfara State has been recognized as Nigeria’s top performer in Internally Generated Revenue (IGR) growth for 2024, as revealed by BudgIT’s annual State of States Report, published last Tuesday. The report, which assesses fiscal performance and sustainability across Nigerian states, highlighted Zamfara’s remarkable 240.44% rise in IGR.
This growth has been credited to the state’s financial reforms aimed at reducing reliance on federal allocations. Sulaiman Bala Idris, the governor’s spokesperson, noted that the progress resulted from targeted policies focused on financial independence and revenue diversification.
BudgIT’s analysis showed that Zamfara’s IGR ranking improved substantially, moving from 36th in 2023 to 26th in 2024. The report noted that the state reversed a 49.75% IGR decline seen in 2022, boosting it by 240.22% from N6.51 billion in 2022 to N22.16 billion in 2023.
Zamfara’s income tax collection surged by 142.26% to N12.18 billion, while license revenues increased by 5,921.22% to N1.37 billion. Fees grew by 3,610.38% to N3.06 billion, and fines rose by 1,924.52% to N491.32 million. Additionally, sales grew by 32.49% to N1.02 billion, and other taxes increased by 519.71% to N2.55 billion.
Alongside IGR growth, Zamfara’s total revenue in 2023 rose by 65.35%, reaching N144.95 billion compared to N87.68 billion in 2022. The report also showed a reduction in Zamfara’s dependence on federal allocations, which dropped from 90.52% in 2022 to 74.66% in 2023, despite a 4.93% increase in FAAC allocations.
BudgIT emphasized that Zamfara’s efforts to leverage natural resources and work closely with the federal government have been key to its financial diversification, reducing vulnerability to external economic shocks.
The report concluded by noting that Zamfara’s IGR-to-recurrent revenue ratio rose to 22.16% in 2023 from 9.48% in 2022, signaling the state’s progress toward fiscal sustainability.
This achievement positions Zamfara as an example of successful financial reform, showcasing the impact of reduced federal dependency and a broader revenue base through local resource utilization and diverse income streams.
