Nigeria’s Value Added Tax (VAT) collection increased by 14.16% to N1.78 trillion in the third quarter of 2024, up from N1.56 trillion in the second quarter.
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The National Bureau of Statistics (NBS) released this data on Friday.
On a year-on-year basis, VAT collections in Q3 2024 increased by 88.00% from Q3 2023.
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Local VAT payments amounted to N922.87 billion, foreign VAT payments were N448.85 billion, and import VAT contributed N410.62 billion in Q3 2024.
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