Nigeria: Generated Value Added Tax (VAT) for Q1 2012 - 2021

VAT in Nigeria was increased to 7.5% from 5%, effective from January 13, 2020. Though the increase didn’t affect Q1 2020’s figures that much, figures from Q1 2021 exceed Q1 2020’s by 53%. Here’s the total VAT generated for Q1 of the past ten years.

National Bureau of Statistics, Federal Inland Revenue Service
Extracted from:
Q1 2012 - Q1 2021
HTML code to embed chart
Related Insights

Nigeria has collected a total of ₦17.5 trillion tax from companies between 2015 and 2023
Nigeria collected nearly ₦5 trillion income tax from companies in 2023. The amount collected in 2023 is 3.5x the collections in 2015 and 73% more than in 2022. Here are Nigeria's company income tax collections since 2015.

Nigeria: VAT revenue reached ₦3.6t in 2023, more than 7x the amount generated in 2013
Nigeria's VAT revenue has grown every year since 2013, reaching ₦3.6 trillion in 2023. The amount collected in 2023 exceeded 2022’s by ₦1.13 trillion — a 45% increase.

Nigeria: Distribution of generated Value Added Tax (VAT) by sector for Q1 2020 and Q1 2021
Of the total VAT generated in Q1 2021, Non-Import (foreign) VAT recorded a 116% increase — the highest compared with the same period of 2020. Here is a breakdown of the VAT generated by sectors in Q1 2020 and Q1 2021.

Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form

Techpremier Media Limited. All rights reserved