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Tag: tax revenue

featured Finance

Nigeria’s VAT revenue hit ₦2.28trn in Q3 2025 – NBS

Nigeria’s Value Added Tax collections reached N2.28 trillion in the third quarter of 2025, according to the VAT Q3 2025 report released by the National Bureau of Statistics. The report indicates a 10.66 per cent increase on a quarter-on-quarter basis from N2.06 trillion recorded in Q2 2025. Local VAT payments accounted for N1.12 trillion, foreign […]

Economy

Nigerians demand transparency, accountability in new tax revenue usage

Barely weeks into the implementation of Nigeria’s new tax regime, a familiar anxiety is resurfacing among citizens: not whether taxes should be paid, but whether the proceeds will be properly used. BusinessDay reported that from urban professionals to informal traders, conversations increasingly return to the same question: what will the Federal Government and the states […]

Opinion

CITAB urges FG to invest tax revenue in disabilities

The Centre for Infrastructural and Technological Advancement for the Blind has urged the Federal Government of Nigeria to invest a significant portion of tax revenue into the disability community across the country. The organisation said the investment should cover Nigerians living with visual, hearing, mobility, cognitive and psychosocial disabilities. The call comes as new tax […]

Economy featured

VAT collection hits N4.12tr

Revenue generated through Value Added Tax saw a substantial rise in the first half of 2025, reaching N4.12 trillion. This represents a significant 37.7 per cent year-on-year increase from the N2.99 trillion recorded in H1’24, according to figures released by the National Bureau of Statistics. The details were contained in the Q2’25 VAT report, which […]

Nigeria's mineral production rose by 39% in 2021 - NBS
Oil and Gas

Manufacturing sector remitted N114.37bn Q3 2022 – NBS

The manufacturing sector topped the list of highest contributors to Value Added Tax revenue generated by the Federal Government in the third quarter of 2022.   The National Bureau of Statistics third quarter report revealed that the sector had a remittance of N114.37 billion, accounting for 18.29 percent of the total N625.39 billion generated as […]

IGR
featured News

How governors can improve IGR – Commission

The Fiscal Responsibility Commission has advised state governors across Nigeria to develop revenue-generating mechanisms in their respective states. The commission’s Executive Chairman, Victor Muruako, said it was important for governors to exploit their ingenuity in preparing for post crude oil revenue era. Muruako gave the advice on Tuesday during the opening of a three-day technical […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Economy

Nigeria facing existential threats – World Bank

The World bank on Wednesday alerted the regime of the President, Major General Muhammadu Buhari(retd), that Nigeria might be facing an existential threat due to its dwindling revenue. The international financial institution also cited the continued payment of trillions of naira on fuel subsidies by the government and the attendant economic challenges, as other causes. […]

Why Nigeria must save oil revenues - IMF
Economy

High inflation, fiscal deficit to persist in Nigeria -IMF

The International Monetary Fund has said that the rate of inflation in Nigeria is expected to remain elevated in 2022. According to the lender, the fiscal deficit of the consolidated government is expected to remain high at 6.1 per cent of the nation’s Gross Domestic Product majorly due to costly petrol subsidies and limited tax […]

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