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flag Nigeria's Finance Minister denies VAT rate increase to 10%, confirming it remains at 7.5%.

flag Nigeria's Finance Minister, Wale Edun, has denied claims that the Value-Added Tax (VAT) rate will rise from 7.5% to 10%. flag He confirmed that the VAT rate remains unchanged, emphasizing the government's commitment to fiscal policies aimed at economic growth and poverty alleviation. flag In Q2 2024, Nigeria generated N1.56 trillion from VAT, a 99.82% year-on-year increase, with significant contributions from various sectors, particularly agriculture and health.

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