The total value of federal government’s Value Added Tax (VAT) collections leaped by N41.53 billion in the second quarter of 2017.
The Sectoral distribution of VAT data for Q2 2017 released by the National Bureau of Statistics (NBS) revealed that N246.30 billion was generated as VAT in Q2 2017 as against N204.77 billion generated in Q1 2017.
Compared to the same quarter last year, the value collected second quarter of 2017 is N59.27 billion higher than the N187.03 billion recorded in Q2 2016.
Classification of the VAT sources by sectors showed other manufacturing generated the highest amount of VAT with N33.69 billion generated.
The report showed that other manufacturing was closely followed by Professional Services and Oil Producing both generating N21.64 billion and N14.94 billion respectively.
Further analysis of the report showed that Mining 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 generated.