Nigeria generated N2.42 trillion in Value Added Tax, VAT, revenue in the first quarter of 2026, according to the latest report released by the National Bureau of Statistics, NBS.
The bureau said VAT collections rose by 9.98 per cent from the N2.20 trillion recorded in the fourth quarter of 2025 and increased by 17.06 per cent compared with the same period last year. Local VAT payments accounted for N1.11 trillion, while foreign VAT and import VAT contributed N830.47 billion and N477.55 billion, respectively.
NBS said the manufacturing sector recorded the largest share of VAT revenue at N329 billion, followed by information and communication at N228 billion, and mining and quarrying at N136 billion.
In a separate report, the bureau said Company Income Tax revenue fell to N1.37 trillion in the first quarter of 2026, representing declines of 31.05 per cent year-on-year and 8.08 per cent quarter-on-quarter. Financial and insurance activities accounted for the largest share of company income tax collections, followed by mining and quarrying, and manufacturing.
Also Read: Saraki: Weak Legislature Threatens Nigeria’s Democracy, Checks And Balances
Leave feedback about this
You must be logged in to post a comment.