The National Bureau of Statistics said the aggregate Value Added Tax stood at over nine hundred billion naira in the third quarter of 2023.
This is according to the VAT third quarter 2023 Report released in Abuja on Monday. The report shows a growth rate of twenty one point three four per cent on a quarter-on-quarter basis from over seven hundred and eighty billion naira in second quarter 2023.
In terms of sectoral contributions, the report showed the top three largest shares in third quarter 2023 are manufacturing with twenty six point five one per cent, information and communication with nineteen point per cent, and financial and insurance activities with twelve per cent.
The report, however, said that on a year-on-year basis, VAT collections in third quarter 2023 increased by fifty one per cent from Q3 2022.
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