26.61% increase in Q4 2023 VAT to N1.20 trillion in Nigeria, with manufacturing, information & communication, and mining as top contributors.

The National Bureau of Statistics in Nigeria reports a 26.61% increase in Q4 2023 Value Added Tax (VAT) to N1.20 trillion, up from N948.07 billion in Q3 2023. Q4 2023 VAT collections grew by 72.12% compared to the same period in 2022. The top 3 sectoral contributions during Q4 2023 were manufacturing (13.24%), information and communication (10.02%), and mining and quarrying (7.91%).

March 15, 2024
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