The National Bureau of Statistics (NBS) reports Value Added Tax (VAT) for Q4 2024 reveals a growth rate of 9.23% at ₦1.95 trillion.
According to the NBS: “On aggregate, Value Added Tax (VAT) for Q4 2024 was reported at ₦1.95 trillion, showing a growth rate of 9.23% on a quarter-on-quarter basis from ₦1.78 trillion in Q3 2024.
“Domestic payments were ₦917.40 billion, Non-import foreign VAT Payments were ₦554.68 billion, while import VAT contributed ₦474.75 billion in Q4 2024.On a quarter-on-quarter basis,
“Activities of extraterritorial organizations and bodies recorded the highest growth rate with 180.05%, followed by agriculture, forestry and fishing with 70.83%, and Human health and social work activities with 46.13%.
“On the other hand, Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use contracted by 28.97%, followed information and communication with 23.00%.”
