• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, August 3, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

VAT Revenue Rises By 4.4%To N588bn In Q1 – NBS

by Bukola Idowu
3 years ago
in Business
VAT Revenue Rises
Share on WhatsAppShare on FacebookShare on XTelegram

Revenue generated from Value Added Tax (VAT) rose by 4.4 per cent in the first quarter of 2022 to N588.59 billion data from the National Bureau of Statistics (NBS) has shown.

Advertisement

This compared to the N563.72 billion generated in Q4 2021.

The NBS said this in its latest sectoral distribution of value-added tax for Q1 2022, released on Friday.

According to the report, local payments of VAT amounted to N344.04 billion in Q1 2022.

“On the aggregate, value-added tax (VAT) for Q1 2022 stood at N588.59 billion, a growth of 4.41 per cent on a quarter-on-quarter basis from N563.72 billion in Q4 2021. Local payments recorded were N344.04 billion in Q1 2022, while foreign VAT payment contributed N117.99 billion,” the report reads.

RELATED

Business Summit Partners UWEAL To Empower African Entrepreneurs

Business Summit Partners UWEAL To Empower African Entrepreneurs

15 hours ago
New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

19 hours ago

“On a quarter-on-quarter basis, the Activities of extraterritorial organisations and bodies recorded the highest growth rate with 469.32 per cent, followed by Water supply, sewerage, waste management and remediation activities with 47.62 percent.”

The report added that agriculture, forestry and fishing had the lowest growth rate with –31.04 per cent, followed by real estate activities with –18.74 per cent.

On sectoral contributions, the top three largest shares in Q1 2022 were manufacturing with 32.84 per cent, information and communication with 17.10 per cent, and mining and quarrying with 11.85 per cent.

Conversely, activities of households as employers recorded the least share with 0.04 percent, followed by activities of extraterritorial organisations and bodies with 0.08 percent; and water supply, sewerage, waste management and remediation activities with 0.16 percent.

On a year-on-year basis, VAT collections in Q1 2022 increased by 18.58 per cent.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: VAT
SendShareTweetShare
Previous Post

BCPG Sets Up Committee To Probe National Infrastructures

Next Post

SGBV: I Was Raped, Visually Impaired Woman Narrates Ordeal

Bukola Idowu

Bukola Idowu

You May Like

Business Summit Partners UWEAL To Empower African Entrepreneurs
Business

Business Summit Partners UWEAL To Empower African Entrepreneurs

2025/08/02
New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations
Business

New Dangote Refinery CEO Reveals Plan To Expand Plant’s Operations

2025/08/02
FUEL CRISIS…Hold Marketers Responsible For Long Queues – Dangote
Business

Dangote Refinery Appoints David Bird As CEO

2025/08/02
Nestlé Equips Over 3.7m Children In 2023
Business

Nestle Nigeria Deepens Grassroots Impact With Women Empowerment Initiative

2025/08/02
Wema Bank Rewards 131 Customers With N11m In ‘5 For 5’ Promo Monthly Draw
Business

Wema Bank Grows Profit by 231% in H1 2025

2025/08/02
United Capital Appoints Uche Ike As New Chairman
Business

United Capital Appoints Uche Ike As New Chairman

2025/08/02
Leadership Conference advertisement

LATEST

Edo LG Polls: I’m Aspiring To Advance Good Governance In Ovia South-West — Omoruyi

LASU Suspends Exam, Academic Activities

ADC Condemns Shutdown Of Radio Station In Niger

Abure-led Labour Party Faults INEC Over Party’s Omission In By-election

Gov Sani Distributes 400 Trucks Of Fertilizer To 100,000 Kaduna Farmers

Police Clash With Community Over Land Dispute In Abuja

Zulum Allays Borno Residents’ Fears Over Alau Dam

Police Summon Sowore For Alleged Forgery, Inciting Disturbance

Tinubu Celebrates Ex-VP Sambo At 71

NSE President Urges Stronger Nigeria–Japan Synergy For Infrastructure Dev’t

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.