Federal finance and statistics / National Bureau of Statistics

Value Added Tax (VAT) Q3 2023

Executive Summary On the aggregate, Value Added Tax (VAT) for Q3 2023 was reported at N948.07 billion, showing a growth rate of 21.34% on a quarter-on-quarter basis from N781.35 billion in Q2 2023. Local payments recorded were N522.08 billion, Foreign VAT Payments were N204.58 billion, while import VAT contributed N221.41 billion in Q3 2023. On a quarter-on-quarter basis, agriculture, forestry and fishing recorded the highest growth rate with 91.87%, followed by the activities of extraterritorial organizations and bodies with 80.25%. On the other hand, real estate had the lowest growth rate wi…