• Why 15 states may go bankrupt over low IGR

    Why 15 states may go bankrupt over low IGR

    According to reports, Fifteen States may go bankrupt as their Internally Generated Revenue (IGR) in 2015 were far below 10 per cent of their Fed­eration Account Allocations (FAA) from June 2015 to May 2016.

    The states that may not sur­vive without the Federation Account due to poor internal revenue include Yobe which generated meagre N2.2 bil­lion, compared to a total of N57.4 billion it received from the Federation Account Allo­cation (FAA) from June 2015 to May 2016, representing about 3.9 per […]