The Federal Inland Revenue Service (FIRS) recently released data on Value Added Tax (VAT) generated across Nigeria’s states and the Federal Capital Territory (FCT) for August 2024, totaling N444.19 billion.
VAT is a consumption tax levied on goods and services at each stage of production or distribution. It is paid by consumers but collected by businesses and remitted to the government. The FIRS oversees VAT collection in Nigeria, ensuring compliance and generating revenue critical for national development.
VAT is charged on taxable goods and services at a standard rate of 7.5%. Businesses collect this tax from consumers at the point of sale and remit it to the FIRS monthly. The revenue is then shared among the federal, state, and local governments.
Here is a breakdown of VAT generated in states and FCT across Nigeria in August 2024:
- Lagos: N249.77bn
- Rivers: N70.54bn
- Oyo: N20.11bn
- FCT: N18.17bn
- Delta: N13.09bn
- Bayelsa: N7.12bn
- Kano: N4.65bn
- Akwa Ibom: N4.49bn
- Anambra: N4.28bn
- Edo: N4.05bn
- Ekiti: N3.66bn
- Borno: N3bn
- Kwara: N2.89bn
- Adamawa: N2.59bn
- Plateau: N2.58bn
- Benue: N2.56bn
- Gombe: N2.55bn
- Kogi: N2.43bn
- Kaduna: N2.03bn
- Ebonyi: N1.90bn
- Taraba: N1.88bn
- Sokoto: N1.84bn
- Osun: N1.81bn
- Ogun: N1.74bn
- Niger: N1.73bn
- Yobe: N1.71bn
- Katsina: N1.68bn
- Jigawa: N1.59bn
- Nasawawa: N1.47bn
- Ondo: N1.45bn
- Enugu: N1.08bn
- Cross River: N1.08bn
- Bauchi: N691.28m
- Kebbi: N665.17m
- Abia: N663.42m
- Zamfara: N432.80m
- Imo: N235.41m
Total: N444.19bn
