INTERNALLY GENERATED REVENUE OF NIGERIAN STATES –TRENDS, CHALLENGES AND OPTIONS

Abstract

Discussions about internally generated revenue are not only topical, but likely to heighten in the coming years. This is particularly so among hitherto commoditydependent countries hit by falling prices. With commodity prices falling below what is required to balance budgets in many countries, the search for alternative and/or complementary sources of revenues is likely to intensify in the years ahead. This is more so for Nigeria and the component States. Given that they do not have the leverage of monetary policy and that debt instruments are more limited, the need for subnational governments to evolve options to increase internally generated revenue is more stringent.