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Business News of Thursday, 8 June 2023

Source: thenationonlineng.net

FG earned N109.6tr non-oil tax in 12 years – NBS

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Nigeria earned N109.6trillion from non-oil tax in 12 years, according to the National Bureau of Statistics (NBS) in its document titled: “Tax -To- GDP Ratio.”

The report noted between 2010 and 2021, the country also earned N25.1tr from oil tax.

NBS said in 2010, Nigeria collected N6.8tr, N9.4tr in 2011, and N8.4tr in 2012 as non- oil taxes.

According to NBS, non-oil tax earned the country earned N9.2tr in 2014, it collected N7.8tr in 2015, and N7.1tr in 2016.

The document said non-oil taxes earned the country N8.7tr in 2017, N10.6tr I’m 2018, and N12.5tr in 2019.

It also said Nigeria earned N11.1tr from and N11.1tr in 2020 and N16.7tr in 2021oil taxes.

From the oil taxes, NBS said in 2010, Nigeria earned N1.4tr, in 2011 it earned N3.1tr, and N2.6tr in 2013.

The report said the country collected N2.4tr from oil taxes in 2014, and also N1.4tr, and N1.2tr in 2015 and 2016 respectively.

NBS added that in 2017, Nigeria earned N1.5tr, N2.5tr in 2018, and N2.1tr in 2019 from oil taxes.

The document said in 2020, the country collected N1.6tr from oil taxes and in 2020, it earned N2.1 tr from the commodity.


Total tax revenues from non-oil and non-oil taxes in the period under review was

N142.4 trillion , according to NBS.