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HomeNewsNigerians paid N15.86 billion more VAT in Q2: NBS

Nigerians paid N15.86 billion more VAT in Q2: NBS

Nigeria recorded an increase of Value Added Tax (VAT) revenue to the tune of N15.86 billion, jumping from N496.39 billion generated in quarter one (Q1, 2021) to N512.25 billion in Q2.

This is contained in the National Bureau of Statistics (NBS) “Sectoral Distribution of VAT Data for Q2, 2021.” 

It said the N512.25 billion generated in Q2 as against what was generated in Q1 and N327.20 billion generated in Q2 2020 represented a 3.20 per cent increase quarter-on-quarter and 56.56 per cent increase year-on-year.

Read Also: Osinbajo praises professor who says Nigerians youths lack integrity, commit Internet frauds

The NBS said that the manufacturing sector generated the highest amount of VAT with N44.89 billion, closely followed by professional service with, N29.30 billion.


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