These sectors fetched Nigeria N269 billion VAT revenue in three months

The N269.79bn generated in the first quarter of 2018 was an increase of 6.17% over the N254.1bn realised for the fourth quarter of last year.

The National Bureau of Statistics (NBS), on Friday, May 18, 2018, stated this in its sectoral VAT allocation report released in Abuja, the nation's capital.

The NBS stated in the report that the N269.79bn generated in the first quarter was an increase of 6.17% over the N254.1bn realised for the fourth quarter of last year.

Here is the breakdown of the VAT generation in Q1 2018

Classification                          Value Added Tax

Banks & Financial Institutions                            5.29bn

Breweries, Bottling and Beverages                     8.88bn

Building and Construction                                2.38bn

Commercial and Trading                                14.93bn

Conglomerates                                                1.29bn

Federal Ministries & Parastatals                         4.23bn

Gas                                                                  1.46bn

Hotels and Catering                                          1.18bn

Others                                                              3.24bn

Oil Marketing                                                     2.51bn

Oil Producing                                                    7.36bn

Other Manufacturig                                         30.13bn

Petro-Chemical and Petroleum Refineries           1.10bn

Pioneering                                                        2.09bn

Professional Services                                       16.58bn

State Ministries & Parastatals                            11.88bn

Stevedoring, Clearing and Forwarding               1.07bn

Transport and Haulage Services                        1.55bn

Textile and Garment industry                           285.42m

Agricultural and Plantations                              372.57m

Automobiles and Assemblies                            441.66m

Chemicals, Paints and Allied Industries              420.85m

Local Government Councils                             449.60m

Minning                                                             46.24m

Offshore Operations                                        797.48m

Pharmaceutical, Soaps and Toileteries              243.44m

Properties and Investments                             777.99m

Publishing,Printing, Paper Packaging                 339.61m

Last week, Kemi Adeosun, Nigeria's minister of finance disclosed that 19 million citizens are now paying taxes from the 65 million economically active people who "are not tax compliant".

Adeosun told a World Bank Mission of 10 Executive Directors led by Patrizio Pagano, that the country’s taxpayers’ base has risen from 14 million in 2016 to 19 million in 2018, an additional five million people.

She noted that the government would accelerate Nigeria’s growth level and also improve the ‘Ease of Doing Business’ in the country.

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