Nigeria records N1.20trn VAT, N1.13trn Company Tax in Q4 2023

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On a year-on-year basis, VAT collections in Q4 2023 increased by 72.12 per cent from Q4 2022, according to NBS data.

EXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisNigeria needs its own version of America’s Second Amendment, By Majeed DahiruEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisNigeria needs its own version of America’s Second Amendment, By Majeed DahiruThis is according to the VAT Q4 2023...

The report said on a quarter-on-quarter basis, agriculture, mining and quarrying recorded the highest growth rate with 63.75 per cent.“On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate with –19.44 per cent, followed by financial and insurance with –8.46 per cent.”

“This was followed by activities of extraterritorial organisations and bodies, and water supply, sewerage, waste management and remediation activities with 0.03 per cent. According to the report, the figure shows a growth rate of –35.40 per cent on a quarter-on-quarter basis from N1.75 trillion recorded in Q3 2023.

In terms of sectoral contributions, the report showed that the top three largest shares in Q4 2023 were manufacturing at 12.84 per cent.

 

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