By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Nigeria Generated N246.30bn As VAT In Second Quarter of 2017 – NBS
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

Nigeria Generated N246.30bn As VAT In Second Quarter of 2017 – NBS

Farouk Mohammed
By Farouk Mohammed
Published: October 21, 2017
Share
1 Min Read
SHARE

Nigeria generated N246.30 billion as Value Added Tax (VAT) in the second quarter of 2017, the National Bureau of Statistics (NBS) says.

The NBS stated the figure in its `Sectoral Distribution of Value Added Tax’’ for the Second Quarter released on Friday in Abuja.

The value generated in the quarter was greater than N204.77 billion generated in the first quarter of the year and N187.03 billion realised in the second quarter of 2016.

The bureau also noted that the value represented a 20.28 per cent increase quarter-on-quarter and 31.69 per cent increase year-on-year.

- Advertisement -

According to the bureau, the manufacturing sector generated the highest amount of VAT with N33.69 billion, closely followed by professional services and oil producing of N21.64 billion and N14.94 billion respectively.

It said the mining sector generated the least and closely followed by local government councils and pharmaceutical, soaps and toiletries with N34.19 million, N154.72 million and N194.26 million in that order.

Out of the total sum generated in the second quarter, N137.79 billion was realised as Non-Import VAT locally, while N59.83 billion was generated as Non-Import VAT for foreign.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NBSNigeriaVAT
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Nigeria’s Aruna Quadri Loss to Korea’s Lee Sangsu In Belgium
Next Article Super Eagles Ready For ‘Top Teams’ In 2018 World Cup – Gernot Rohr

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 1 day ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
Aminu Dantata to be Buried in Madinah After Saudi Approval
News
VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags
Crime Video
- Advertisement -
Ad imageAd image

You May Also Like

News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
NewsSecurity

Security Situation Improving, CDS Urges Continued Support from Nigerians

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
PoliticsTop stories

David Mark to Lead Anti-Tinubu Coalition Under African Democratic Congress Platform

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?