Nigeria's quarterly VAT collections have reached new highs in seven consecutive quarters since Q4 2021
In Q2 2023, Nigeria collected 10% more VAT than in the first quarter, 30% more than in Q2 2022, 53% more than in Q2 2021, and 555% more than 40 quarters ago in Q2 2013. Do you see VAT collections reaching one trillion naira soon?
The Army has been allocated ₦1.50tn, more than half of the top-ten defence allocations, making it the backbone of Nigeria’s security spending.
The Navy (₦443.9bn) and Air Force (₦407.2bn) come next, but together they are far behind the Army.
Institutions like the Defence Intelligence Agency, Training and Doctrine Command, and Defence Missions receive meaningful but much smaller funding, reinforcing their support-role status.
The Defence Space Administration (₦37.3bn) is on the table, but its small size shows Nigeria is only cautiously stepping into cyber- and space-based security.
The Federal Ministry of Finance dominates with ₦16.78 trillion, accounting for nearly ₦1 in every ₦3 spent among the top ministries.
Combined, the ministries of Finance and Budget & Economic Planning control more than 50% of the listed allocations, underscoring the government’s focus on fiscal strategy and economic agenda.
The Works and Defence sectors rank third and fourth, reflecting continuous prioritisation of infrastructure development and national security.
Education and Health, while critical, receive smaller shares, signalling potential pressure points in human capital development funding
