By Elizabeth Adegbesan with agency report
Revenue generated through Value Added Tax (VAT) rose by 37.7 percent year-on-year to N4.12 trillion in the first half of 2025 (H1’25), up from N2.99 trillion in H1’24, according to the National Bureau of Statistics (NBS).
The figure, contained in the Q2’25 VAT report released in Abuja, also showed a marginal quarter-on-quarter decline of 0.03 percent from the N2.06 trillion recorded in Q1’25.
A breakdown of the Q2’25 VAT revenue shows that local VAT payments contributed N1.09 trillion; foreign VAT payments, N459.95 billion; and import VAT, N508.55 billion.
The report indicated that real estate activities recorded the highest quarter-on-quarter growth rate at 155.21 percent, followed by agriculture, forestry and fishing at 23.64 percent, and information and communication at 17.75 percent.
Human health and social work activities posted the lowest growth rate at –68.34 percent, trailed by electricity, gas, steam and air conditioning supply at –45.20 percent, and water supply, sewerage, waste management and remediation at –29.36 percent.
In terms of contribution to total VAT collections, manufacturing led with 27.19 percent, followed by information and communication at 20.76 percent, and mining and quarrying at 15.04 percent.
Activities of households as employers recorded the least share at 0.005 percent, while extraterritorial organisations and bodies contributed 0.02 percent, and water supply, sewerage and waste management accounted for 0.03 percent.
On a year-on-year basis, VAT revenue increased by 32.15 percent compared to the N1.56 trillion generated in Q2’24.
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