The Nigerian government generated a total sum of 1.53 trillion naira revenue from Value Added Tax (VAT) in 2020, up by 29.3% when compared to 1.18 trillion naira recorded in 2019.

This is according to the Sectoral value-added tax report, recently released by the National Bureau of Statistics (NBS). 

Sectoral distribution of Value Added Tax (VAT) data for Q4 2020 reflected that the sum of N454.69bn was generated as VAT in Q4 2020 as against N424.71bn generated in Q3 2020 and N308.48bn generated in Q4 2019 representing 7.06% increase Quarter-on-Quarter and 47.39% increase Year-on-Year.

Further Breakdown

- Professional Services generated the highest amount of VAT with N42.38bn generated and closely followed by Other Manufacturing generating N39.45bn, Commercial and Trading generating N21.15bn

- Mining generated the least and closely followed by Pioneering and Textile and Garment Industry with N58.88m, N185.72m and N353.75m generated respectively.

- Out of the total amount generated in Q4 2020, N212.52bn was generated as Non-Import VAT locally while N143.35bn was generated as Non-Import VAT for foreign. The balance of N98.81bn was generated as NCS-Import VAT.

https://brandspurng.com/2021/01/27/nigeria-vat-revenue-grew-by-29-3-to-%e2%82%a61-53-trillion-in-2020-nbs/

Why won't be so when the only thing left fo FG to tax is the air we breathe.
Wicked govt

But did it really grow in value ?

Professional Services generated the highest amount of VAT with N42.38bn generated and closely followed by Other Manufacturing generating N39.45bn, Commercial and Trading generating N21.15bn

- Mining generated the least and closely followed by Pioneering and Textile and Garment Industry with N58.88m, N185.72m and N353.75m generated respectively.

We need to up our game in mining sector.
Its clearly people ain't into mining.

Out of the total amount generated in Q4 2020, N212.52bn was generated as Non-Import VAT locally while N143.35bn was generated as Non-Import VAT for foreign. The balance of N98.81bn was generated as NCS-Import VAT.

Nigeria Customs didn't deliver everything. I'm sure

Collected mostly from the south and used mostly in the North

lastmessenger:
Collected mostly from the south and used mostly in the North

That's because northerners owns this country that's the pure truth.

That's less than 2.5 billion dollars ...lmao Nigeria is really broke

With a nepotistic president like buhari why would a southerner want to pay tax ...so that they would use it to build 30 billion airport in Kastina when it's obvious anambra would have been better option ?

We the south get the brain ... evading tax is nothing and we would keep doing it ...north catch us if you can

Damnnn niggarrrr
Me nor get anything to yarn for this topic.....

Business admin and students way read statistics we dey wait una..

Make una drop comments make I seek for knowledge

mostly made from the South including from alcoholic drinks but to be jointly shared by parasitic (both in finance, religion and security) North

Slow and steady we will get to a new Nigeria.

God bless our darling Daddy President Muhammadu Buhari and his amiable Vice president Prof Yemi Osinbajo as they make our once looted and vandalized nation work again.

God bless Nigeria.

Like Damnn damm damnn

Gh

Sammy07:


That's because northerners owns this country that's the pure truth.

Hnmm

E nor concern me

twice on fp....mod don high

More tax revenue and no commendable development in this corntree. Foolish government.

And looted by politicians

Yet, Bubu will still borrow.

Whats wrong with that mod today,front page twice
Maybe his high on slawomiirs Edo weed
BTW some people will not be happy with this news. Infact they won't sleep well today.u will start seeing different kind of complains like .....they are taxing too much,no security, dying population etc. Big for nothing swines

kudos to the Govt.

and dem go day money no dey country

istina:
Why won't be so when the only thing left fo FG to tax is the air we breathe.
Wicked govt

See this one, do you think they tax us as much as other countries tax their citizens

On paper right?

Money no loss but Nigerians dey find am...

Yes because you increased it..

Hmmm, na to just dey hear billions and trillions Upandan. Nothing to showcase. Make them share am well well. One day, one day, chicken will come home to roost.

istina:
Why won't be so when the only thing left fo FG to tax is the air we breathe.
Wicked govt

Bros taxes are collected everywhere in the world. Britain,russia, even in America citizens are taxed. It's only in Nigeria that we see tax by a specific government as a form of wickedness

Generate lots of revenue,yet,borrowing still continue.

This kind ojuju government is really confusing me,wallahi

Kudos to nigerians.
we nigerians are trying by generating a lot of money after taxing us.
but upon the collective effort we are making to build nigeria crooks in this government are yet to tell us why they are yet to repent to put smile on the face of nigerians.