VAT Revenue Climbs 37% to N4.12trn in First Half of 2025 — NBS

Nigeria’s Value Added Tax (VAT) collection grew by 37.7% year-on-year to N4.12 trillion in the first half of 2025 (H1’25), rising from N2.99 trillion recorded in H1’24, according to the latest report released by the National Bureau of Statistics (NBS).

The Q2’25 VAT data, published in Abuja, also revealed a slight quarter-on-quarter dip of 0.03%, compared to the N2.06 trillion generated in Q1’25.

A sectoral breakdown for Q2’25 shows that:

• Local VAT payments contributed N1.09 trillion,
• Foreign VAT payments totalled N459.95 billion, and
• Import VAT amounted to N508.55 billion.

The report highlighted that real estate activities recorded the strongest quarter-on-quarter growth at 155.21%, followed by agriculture, forestry and fishing at 23.64%, and information and communication at 17.75%.

Meanwhile, the steepest declines were recorded in:

• Human health and social work activities at –68.34%,
• Electricity, gas, steam and air conditioning supply at –45.20%, and
• Water supply, sewerage, waste management and remediation at –29.36%.

In terms of contributions to overall VAT revenue:

• Manufacturing topped the chart with 27.19%,
• Information and communication followed with 20.76%,
• Mining and quarrying accounted for 15.04%.

The smallest shares came from:

• Activities of households as employers at 0.005%,
• Extraterritorial organisations and bodies at 0.02%,
• Water supply, sewerage and waste management at 0.03%.

Year-on-year, VAT revenue jumped 32.15%, compared to the N1.56 trillion collected in Q2’24.

Opinion Nigeria News