Nigeria’s VAT increases by 1.75% in Q1 2023, as manufacturing sector dominates contributions (nairametrics.com)

Information and communication followed with a share of 19.29, while mining amp quarrying contributed 12.24 to VAT collection during the same period.

Nigerias Value Added Tax (VAT) recorded a quarteronquarter increase of 1.75, rising from N697.38 billion in Q4 2022 to N709.59 billion in the first quarter of 2023.

This data was revealed in the recently released VAT Q1 2023 report by the National Bureau of Statistics on Tuesday.

The manufacturing sector accounted for the largest share of VAT collection in Q1 2023 at 29.65.

The report also highlighted the sectors that contributed the most to VAT collection during this period, with manufacturing leading at 29.65, followed by information and communication at 19.29, and mining amp quarrying at 12.24.

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