FG, States LGs rake in N948.07bn in third quarter VAT

Value Added Tax (VAT) for the third quarter of 2023 was reported at N948.07 billion, indicating a growth rate of 21.34 per cent on a quarter-on-quarter basis from N781.35 billion in the second quarter of 2023, the National Bureau of Statistics (NBS) has said.  

On a quarter-on-quarter basis, agriculture, forestry and fishing recorded the highest growth rate with 91.87 per cent, followed by the activities of extraterritorial organizations and bodies with 80.25 per cent.

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