Nigeria records N948.07bn VAT in Q3 2023 – NBS

The National Bureau of Statistics said the aggregate Value Added Tax stood at N948.07b in Q3 of 2023.

This is according to the VAT Q3 2023 Report released in Abuja on Monday.

The report shows a growth rate of 21.34 per cent on a quarter-on-quarter basis from N781.35b in Q2 2023.

It said local payments recorded were N522.08b, while foreign VAT payments contributed N204.58b and import VAT contributed N221.41b in Q3 2023.On a quarter-on-quarter basis, agriculture, forestry, and fishing recorded the highest growth rate at 91.87 per cent.

“This was followed by activities of extraterritorial organisations and bodies with 80.25 per cent.”

“On the other hand, real estate had the lowest growth rate with -37.68 per cent, followed by construction with -9.54 per cent.”