Nigeria’s VAT revenue reaches N496.4 billion in Q1

Factual Pursuit of Truth for Progress

Nigeria Value Added Tax (VAT) has generated a sum of N496.39 billion revenue in the first quarter of 2021.

This is a rise of 52.93% year-on-year compared to N324.58 billion recorded in the corresponding period of 2020.

The information was contained in the sectoral distribution of value added tax report recently released by the National Bureau of Statistics (NBS).

In the report, VAT collections in the period represents a 52.93% increase as against N324.58 billion recorded in Q1 2020; and a 9.17% increase compared to N454.7 billion recorded in the previous quarter.


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