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Nigeria generates N338.9bn from VAT in Q1’20 — NBS

Re-Ignite / Business  / Nigeria generates N338.9bn from VAT in Q1’20 — NBS

Nigeria generates N338.9bn from VAT in Q1’20 — NBS

The National Bureau of Statistics (NBS) yesterday, said the country generated N338.94 billion as Value Added Tax  (VAT) in the first quarter of the year (Q1’20).

This represents a 15.66 percent year-on-year (YoY) rise when compared to N293.04 billion generated in the corresponding period of last year.

It also shows a 9.9 percent increase quarter-on-quarter, against N308.48 billion generated in the fourth quarter of 2019.  The NBS disclosed this in its Sectoral Distribution of VAT Report for Q1’20.

Source: https://www.vanguardngr.com/2020/05/nigeria-generates-n338-9bn-from-vat-in-q120-nbs/

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