June 8, 2023
News Today In the News

Nigeria Gets N625.39 Billion From VAT In 2022 Third Quarter

Nigeria’s revenue generation from Value Added Tax in the third quarter of 2022 was N625.39 billion according to the National Bureau of Statistics (NBS).

The Bureau revealed this in its “Sectoral Distribution of Value Added Tax data for Q3 2022, released yesterday.

NBS says that the figure represents a growth rate of 4.21 percent quarter-on-quarter basis from N600.15 billion in Q2 2022 and a 24.95 percent increase year-on-year from Q3 2021.

The bureau also added that on a quarter-on-quarter basis, the Arts, entertainment, and recreation supply activities recorded the highest growth rate with 61.09 percent, followed by activities of extraterritorial organizations and bodies with 44.47 percent.

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