VAT: Manufacturing Sector Contributed N864bn in 6 years – NBS

Nigeria’s Terms of Trade Declines by 2.8% in Q4 2018- NBS National-Bureau-of-Statistics-NBS
VAT: Manufacturing Sector Contributed N864bn in 6 years – NBS
The manufacturing sector contributed about N864 billion of the N3.63 trillion generated as Value Added Tax (VAT) from 2013 to 2018, an analysis by the National Bureau of Statistics (NBS) has revealed.
The NBS report on Sectoral Distribution of VAT showed that the manufacturing sector’s contribution represented 24 per cent of the total VAT generated within the six-year period.
A breakdown of the N3.63 trillion indicated that N481.5 billion was generated in 2013, N493.9 billion in 2014, while N759.4 billion and N777.51 billion, were generated in 2015 and 2016, respectively.
According to the report, N972.35 billion and N1.10 trillion were generated as VAT in 2017 and 2018, respectively, with the amount generated as 2018 VAT being the highest in the six-year period.
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