VAT

In the first half of 2026, Lagos State emerged as the leading recipient of Federation Account allocations, surpassing Nigeria's primary oil-producing states by securing the largest share of the total ₦4.54 trillion distributed among…

The Federation Account Allocation Committee (FAAC) shared a total of N2.550 trillion among the Federal Government, the 36 states and the 774 local government councils for June 2026, following a significant increase in statutory revenue and…

The International Monetary Fund (IMF) has suggested that Nigeria may need additional taxes to fund an expanded cash transfer program for vulnerable populations. This suggestion is probably informed by findings by the Fund that, despite…

Nigeria’s Value Added Tax (VAT) revenue surged to ₦2.28 trillion in the third quarter of 2025, representing a 10.66% increase from ₦2.06 trillion recorded in Q2, the National Bureau of Statistics (NBS) disclosed on Tuesday. The latest VAT…

Nigeria’s Value Added Tax (VAT) earnings remained broadly stable in the second quarter of 2025, with the Federal Government recording ₦2.06 trillion in receipts, according to the latest sectoral VAT distribution report…

Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria (MAN), has supported the proposed tax reform bill before the National Assembly to clarify long-standing misinterpretations on tax incentives for export…

President Bola Tinubu has foreclosed the withdrawal of the Tax reform bills from the National Assembly and instead, urged Vice President Kashim Shettima and the 36 state governors to give their input on the bills during the lawmakers'…

The Federal Government of Nigeria has exempted 63 items from the Value-Added Tax (VAT), a move aimed at easing the burden on citizens and businesses, particularly following the fuel subsidy removal, which had significantly increased living…

The National bureau of statistics has reported an increased vat collection revenue from N1.43 trillion in Q1 2024, to an improved revenue at a growing rate of 9.11 per cent to N1.56 trillion in Q2 2024. Value Added Tax is a consumption tax…

The Lagos Chamber of Commerce and Industry (LCCI) has called for swift implementation of the recent Executive Order (EO) introducing zero tariffs, excise duties, and Value-Added Tax (VAT) on imported pharmaceutical inputs. Recall that…