Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q2 2024

Executive Summary On the aggregate, Value Added Tax (VAT) for Q2 2024 was reported at N1.56 trillion, show ing a growth rate of 9.11% on a quarter-on-quarter basis from N1.43 trillion in Q1 2024. Lo cal payments recorded were N792.58 billion, Foreign VAT Payments were N395.74 billion, while import VAT contributed N372.95 billion in Q2 2024. On a quarter-on-quarter basis, Human health and social work activities recorded the highest growth rate with 98.44%, fol lowed by agriculture, forestry and fishing with 70.26%, and Water supply, sewerage, waste management and remediation activities with 59.…