News
Transit from politics to governance – Tinubu tells governors
The National Bureau of Statistics, NBS, says the aggregate Value Added Tax, VAT, in Q4 2023 stood at N1.20 trillion.
This is contained in the VAT Q4 2023 report released in Abuja on Thursday.
The report indicated an increase rate of 26.61 per cent on a quarter-on-quarter basis from N948.07 billion in Q3 2023.
According to the report, local payments recorded were N630.00 billion, while foreign VAT payments contributed N326.27 billion, and import VAT contributed N244.04 billion in Q4 2023.
The report said on a quarter-on-quarter basis, agriculture, mining and quarrying recorded the highest growth rate with 63.75 per cent.
“This was followed by activities of other services organisations with 61.98 per cent.
“On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate with –19.44 per cent, followed by financial and insurance with –8.46 per cent,” it added.
READ ALSO: Epileptic power supply: Pressure mounts on Tinubu govt to revoke Discos’ licenses
In terms of sectoral contributions, the report indicated the top three largest shares in Q4 2023 were manufacturing with 13.24 per cent, information and communication with 10.02 per cent, and mining and quarrying with 7.91 per cent.
“On the other hand, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.00 per cent.
“This was followed by activities of extraterritorial organisations and bodies, and water supply, sewerage, waste management and remediation activities with 0.03 per cent.
“This was closely followed by activities of real estate with 0.07 per cent and agriculture, forestry and fishing activities with 0.10 per cent,” the report added.
It however, said on a year-on-year basis, VAT collections in Q4 2023 increased by 72.12 per cent from Q4 2022.
-
News7 days ago
Cooking Gas Price Has Fallen
-
Sports6 days ago
Finidi agrees deal with NFF, names three foreign assistants
-
News7 days ago
Read How Auxiliary Was Whisked Away By Masked Security Agents as Family member Speaks
-
Politics6 days ago
Atiku Says Tinubu’s Son Is A Director In Company Related To Coastal Road Contract
-
Politics6 days ago
Rivers Crisis: I Can’t Bow To Wike, He’s Not God – Fubara
-
News7 days ago
ERA OF GIVING OIL BLOCS TO POLITICIANS AS PATRONAGE IS OVER SAYS LOKPOBIRI
-
Entertainment6 days ago
“I Met My Husband Online And I’m Happily Married To Him As The 3rd Wife”– Bimpe Akintunde Says As She Shed More Light On Her Marriage
-
Sports6 days ago
Raphael Onyedika Suspended For Club Brugge’s Conference League Clash With Fiorentina