Nigeria earns N808b from VAT, says NBS

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The National Bureau of Statistics says revenue generated from Value Added Tax from sectoral distribution from first to third quarters of 2018 was N808 billion.

The report showed that N269.79 billion was generated in first quarter,N266.73 billion second quarter and N273.50 billion in third quarter.

A breakdown of the figures showed that the manufacturing sector generated the highest amount of N31.48 billion followed by Professional Services, Commercial and Trading, N25.57 billion and N15.99 billion respectively.

A total amount of N128.62 billion was generated as Non-Import VAT locally while N58.84 billion as Non-Import VAT for foreign.

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