This is according to the VAT Q3 2023 Report released in Abuja on Monday. The report shows a growth rate of 21.34% on a quarter-on-quarter basis from ₦781.35 billion in Q2 2023.
It said local payments recorded were ₦522.08 billion, while foreign VAT payments contributed ₦204.58 billion, and import VAT contributed ₦221.41 billion in Q3 2023. The report said on a quarter-on-quarter basis, agriculture, forestry and fishing recorded the highest growth rate with 91.87%.
“This was followed by activities of extraterritorial organisations and bodies with 80.25%.”
