VAT – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Thu, 22 Jan 2026 14:33:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png VAT – InfoStride News https://www.theinfostride.com 32 32 Manufacturing Sector’s VAT Contribution Rises 39% to N803.5bn https://www.theinfostride.com/manufacturing-sectors-vat-contribution-rises-39-to-n803-5bn/ https://www.theinfostride.com/manufacturing-sectors-vat-contribution-rises-39-to-n803-5bn/#respond Thu, 22 Jan 2026 11:20:12 +0000 https://www.theinfostride.com/?p=465917 Nigeria’s manufacturing sector has recorded a significant boost in its Value Added Tax (VAT) contribution, climbing 39 percent to N803.5 billion, according to the latest figures from the National Bureau of Statistics (NBS). This surge underscores the sector’s resilience despite grappling with economic headwinds such as high production costs, inflationary pressures, and foreign exchange instability. [...]

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]]> https://www.theinfostride.com/manufacturing-sectors-vat-contribution-rises-39-to-n803-5bn/feed/ 0 Federal Government Nets ₦600bn in VAT Collections from Facebook, Other Digital Giants https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/ https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/#respond Thu, 11 Sep 2025 09:31:13 +0000 https://www.theinfostride.com/?p=466428 The Federal Government has disclosed that it has collected over ₦600 billion in Value Added Tax (VAT) from global technology companies such as Facebook, Google, Netflix, and other foreign digital service providers operating in Nigeria. The announcement signals significant progress in the country’s efforts to expand its tax base and capture revenue from the fast-growing [...]

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]]> https://www.theinfostride.com/federal-government-nets-%e2%82%a6600bn-in-vat-collections-from-facebook-other-digital-giants/feed/ 0 Manufacturers’ Association of Nigeria Reports 8% Revenue Decline Due to Delay in Zero VAT Implementation https://www.theinfostride.com/manufacturers-association-of-nigeria-reports-8-revenue-decline-due-to-delay-in-zero-vat-implementation/ https://www.theinfostride.com/manufacturers-association-of-nigeria-reports-8-revenue-decline-due-to-delay-in-zero-vat-implementation/#respond Wed, 30 Oct 2024 15:29:32 +0000 https://www.theinfostride.com/?p=392677 The Manufacturers’ Association of Nigeria (MAN) has reported a concerning 8% reduction in revenue among manufacturers due to the delayed implementation of the zero Value Added Tax (VAT) policy. This policy, aimed at easing the financial burden on manufacturers and stimulating growth in the sector, has faced significant setbacks, leading to challenges for businesses already [...]

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]]> https://www.theinfostride.com/manufacturers-association-of-nigeria-reports-8-revenue-decline-due-to-delay-in-zero-vat-implementation/feed/ 0 Northern Governors Oppose New Derivation Model for VAT Distribution in Tax Bill https://www.theinfostride.com/northern-governors-oppose-new-derivation-model-for-vat-distribution-in-tax-bill/ https://www.theinfostride.com/northern-governors-oppose-new-derivation-model-for-vat-distribution-in-tax-bill/#respond Tue, 29 Oct 2024 10:15:25 +0000 https://www.theinfostride.com/?p=392432 The recent proposal for a new derivation model for the distribution of Value Added Tax (VAT) has faced strong opposition from governors in Nigeria’s northern states. As discussions surrounding the tax bill intensify, the northern governors have expressed their concerns over the implications of the proposed changes on revenue allocation and economic equity among the [...]

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]]> https://www.theinfostride.com/northern-governors-oppose-new-derivation-model-for-vat-distribution-in-tax-bill/feed/ 0 NDDC proposes legislation to secure 3% VAT revenue for additional funding https://www.theinfostride.com/nddc-proposes-legislation-to-secure-3-vat-revenue-for-additional-funding/ https://www.theinfostride.com/nddc-proposes-legislation-to-secure-3-vat-revenue-for-additional-funding/#respond Wed, 17 Jul 2024 22:45:23 +0000 https://www.theinfostride.com/?p=383682 The Niger Delta Development Commission (NDDC) is advocating for new legislation to allocate 3% of the Value Added Tax (VAT) revenue as an additional funding source.   This initiative emerged from the technical sessions at the recently concluded Niger Delta Stakeholders Summit 2024, held in Port Harcourt, Rivers State, from July 10 to 12, 2024.   This [...]

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]]> https://www.theinfostride.com/nddc-proposes-legislation-to-secure-3-vat-revenue-for-additional-funding/feed/ 0 EU/ECOWAS Delegation Highlights Concerns Over Low VAT Rates in Nigeria https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-over-low-vat-rates-in-nigeria/ https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-over-low-vat-rates-in-nigeria/#respond Tue, 12 Mar 2024 17:45:26 +0000 https://www.theinfostride.com/?p=372849 A recent delegation from the European Union (EU) and the Economic Community of West African States (ECOWAS) has expressed concerns over the relatively low Value Added Tax (VAT) rates in Nigeria. The delegation, after a comprehensive review, emphasized the need for a reevaluation of the VAT system to address potential challenges in revenue generation and [...]

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]]> https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-over-low-vat-rates-in-nigeria/feed/ 0 EU-ECOWAS Delegation Highlights Concerns: Nigeria’s VAT System Under Scrutiny https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-nigerias-vat-system-under-scrutiny/ https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-nigerias-vat-system-under-scrutiny/#respond Tue, 12 Mar 2024 16:53:24 +0000 https://www.theinfostride.com/?p=372825 A delegation from the European Union (EU) and the Economic Community of West African States (ECOWAS) has raised concerns about the functionality of Nigeria’s Value Added Tax (VAT) system. The delegation, after a comprehensive review, has expressed reservations about the effectiveness of the current VAT framework, calling for a reevaluation of the system to address [...]

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]]> https://www.theinfostride.com/eu-ecowas-delegation-highlights-concerns-nigerias-vat-system-under-scrutiny/feed/ 0 World Bank Urges VAT Hike for Non-Oil Revenue Boost https://www.theinfostride.com/world-bank-urges-vat-hike-for-non-oil-revenue-boost/ https://www.theinfostride.com/world-bank-urges-vat-hike-for-non-oil-revenue-boost/#respond Wed, 13 Dec 2023 22:00:33 +0000 https://www.theinfostride.com/?p=364253 In a recent development, the World Bank has put forth a proposal urging the Nigerian federal government to consider elevating the Value Added Tax (VAT) rate as a strategic move to augment non-oil revenue flowing into the government’s coffers. This recommendation was disclosed in the World Bank’s Bi-annual Nigeria Development Update titled “Turning the Corner: [...]

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]]> https://www.theinfostride.com/world-bank-urges-vat-hike-for-non-oil-revenue-boost/feed/ 0 Nigeria’s Q3 2023 VAT Soars to N948.07bn, Reveals NBS Report https://www.theinfostride.com/nigerias-q3-2023-vat-soars-to-n948-07bn-reveals-nbs-report/ https://www.theinfostride.com/nigerias-q3-2023-vat-soars-to-n948-07bn-reveals-nbs-report/#respond Tue, 12 Dec 2023 20:58:26 +0000 https://www.theinfostride.com/?p=364139 In a recent development, the National Bureau of Statistics, as reported by Infostride News, unveiled the latest figures on Value Added Tax (VAT) for the third quarter of 2023, standing at a substantial N948.07b. The VAT Q3 2023 Report, released in Abuja on a Monday, revealed a noteworthy growth rate of 21.34% on a quarter-on-quarter [...]

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]]> https://www.theinfostride.com/nigerias-q3-2023-vat-soars-to-n948-07bn-reveals-nbs-report/feed/ 0 Government Anticipates N593 Billion Windfall from 2024 VAT Collection https://www.theinfostride.com/government-anticipates-n593-billion-windfall-from-2024-vat-collection/ https://www.theinfostride.com/government-anticipates-n593-billion-windfall-from-2024-vat-collection/#respond Tue, 05 Dec 2023 17:46:10 +0000 https://www.theinfostride.com/?p=363323 The federal government has outlined an ambitious target, aiming to generate approximately N593.1 billion in 2024 through Value Added Tax (VAT) collection, as indicated in the revenue projection of the 2024 appropriation bill submitted to the Senate. Within the comprehensive revenue outlook for 2024, the federal government anticipates a total revenue of N12.7 trillion. The [...]

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]]> https://www.theinfostride.com/government-anticipates-n593-billion-windfall-from-2024-vat-collection/feed/ 0 Federal Government Expanding VAT Oversight Across Five Key Sectors, Says Report https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/ https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/#respond Wed, 25 Oct 2023 23:45:34 +0000 https://www.theinfostride.com/?p=358290 The Federal Government has unveiled an ambitious strategy aimed at enhancing the reach and effectiveness of its Value-Added Tax (VAT) collection. Under this plan, the government intends to employ additional tax agents across five key sectors. The objective is to maximize VAT coverage and collection, aligning with the provisions of Section 14 (3) of the [...]

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]]> https://www.theinfostride.com/federal-government-expanding-vat-oversight-across-five-key-sectors-says-report/feed/ 0 Kano, Lagos and Oyo overtake others as states share N1.84 trillion from VAT revenue https://www.theinfostride.com/kano-lagos-and-oyo-overtake-others-as-states-share-n1-84-trillion-from-vat-revenue/ https://www.theinfostride.com/kano-lagos-and-oyo-overtake-others-as-states-share-n1-84-trillion-from-vat-revenue/#respond Fri, 01 Oct 2021 18:43:20 +0000 https://www.theinfostride.com/?p=309353 This is according to data provided from various FAAC reports, released by the National Bureau of Statistics (NBS) and compiled by Nairametrics Research. Lagos, Kano, and Oyo States were the highest recipients during the period under review, jointly accounting for 25.6% of the total gross VAT allocations to the entire states. According to data from [...]

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]]> https://www.theinfostride.com/kano-lagos-and-oyo-overtake-others-as-states-share-n1-84-trillion-from-vat-revenue/feed/ 0 Court of Appeal approves Lagos request to join in VAT case https://www.theinfostride.com/court-of-appeal-approves-lagos-request-to-join-in-vat-case/ https://www.theinfostride.com/court-of-appeal-approves-lagos-request-to-join-in-vat-case/#respond Thu, 30 Sep 2021 16:25:53 +0000 https://www.theinfostride.com/?p=309268 The Court of Appeal in Abuja has just approved the request of the Lagos State Government to be added in the suit challenging the collection of Value Added Tax (VAT) of states. In the resumed hearing of the case on Thursday, the court also ordered all processes filed, to be served on the Attorney General [...]

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]]> https://www.theinfostride.com/court-of-appeal-approves-lagos-request-to-join-in-vat-case/feed/ 0 The Movement to amend VAT law to favour FG will collapse – Governor Akeredolu https://www.theinfostride.com/the-movement-to-amend-vat-law-to-favour-fg-will-collapse-governor-akeredolu/ https://www.theinfostride.com/the-movement-to-amend-vat-law-to-favour-fg-will-collapse-governor-akeredolu/#respond Sat, 18 Sep 2021 20:48:19 +0000 https://www.theinfostride.com/?p=308335 The Governor of ondo state, Rotimi Akeredolu, has insisted that the bid by some interests to amend the Value Added Tax (VAT) in line to favour the Federal Government against other tiers of government will definitely fail. This is coming a day after the Governor presided over a southern governors meeting in Enugu in which [...]

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]]> https://www.theinfostride.com/the-movement-to-amend-vat-law-to-favour-fg-will-collapse-governor-akeredolu/feed/ 0 Court halts Rivers, Lagos from collecting VAT pending determination of case https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/ https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/#respond Fri, 10 Sep 2021 22:52:59 +0000 https://www.theinfostride.com/?p=307735 The Court of Appeal sitting in Abuja has ordered all the contending parties to maintain the status quo on the collection of Value Added Tax (VAT) pending the determination of the appeal filed before the Federal Inland Revenue Service (FIRS). The appellate court, in its order, which is the latest twist in the series of [...]

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]]> https://www.theinfostride.com/court-halts-rivers-lagos-from-collecting-vat-pending-determination-of-case/feed/ 0 Governor Sanwo-Olu signs VAT collection bill into law in Lagos state https://www.theinfostride.com/governor-sanwo-olu-signs-vat-collection-bill-into-law-in-lagos-state/ https://www.theinfostride.com/governor-sanwo-olu-signs-vat-collection-bill-into-law-in-lagos-state/#respond Fri, 10 Sep 2021 22:10:03 +0000 https://www.theinfostride.com/?p=307733 The Lagos State Governor, Babajide Sanwo-Olu, has just signed into law a bill empowering the state government to collect Value Added Tax (VAT) within the state. This is coming barely a day after the Lagos State House of Assembly passed the VAT and open grazing prohibition bills despite the appeal of the Federal High Court [...]

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]]> https://www.theinfostride.com/governor-sanwo-olu-signs-vat-collection-bill-into-law-in-lagos-state/feed/ 0 I will shut down FIRS offices if this doesn’t stop in Rivers state – River state governor lashes https://www.theinfostride.com/i-will-shut-down-firs-offices-if-this-doesnt-stop-in-rivers-state-river-state-governor-lashes/ https://www.theinfostride.com/i-will-shut-down-firs-offices-if-this-doesnt-stop-in-rivers-state-river-state-governor-lashes/#respond Wed, 08 Sep 2021 22:00:33 +0000 https://www.theinfostride.com/?p=307560 The Rivers State Governor, Nyesom Wike, has made firm that the state government would go ahead with its move to stop the Federal Government from collecting Value Added Tax (VAT) from River state. This is as the state governor had accused the Federal Government through the Federal Inland Revenue Service (FIRS) of usurping the functions [...]

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]]> https://www.theinfostride.com/i-will-shut-down-firs-offices-if-this-doesnt-stop-in-rivers-state-river-state-governor-lashes/feed/ 0 Zainab Ahmed Has To Educate Nigerians On VAT Increase – Senate https://www.theinfostride.com/zainab-ahmed-has-to-educate-nigerians-on-vat-increase-senate/ Tue, 19 Nov 2019 00:08:52 +0000 https://www.theinfostride.com/?p=241212 The Senate has urged Minister of Finance, Zainab Ahmed to educate the citizens on the proposed increase of Value Added Tax, VAT from five percent to 7.5 percent and its consequences. According to the Senate, the explanation is important since Nigerians would like to know the precise items excluded from the tax hike, especially food [...]

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]]> Proposed VAT Increase Will Affect The Wealthier Nigerians — Zainab Ahmed https://www.theinfostride.com/proposed-vat-increase-will-affect-the-wealthier-nigerians-zainab-ahmed/ Tue, 08 Oct 2019 11:34:25 +0000 https://www.theinfostride.com/?p=238292 Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said the proposed Value Added Tax (VAT) increase will have a negative effect on consumption by urban communities and the richer sections of the population. Mrs Zainab, who disclosed this at the 25th Nigerian Economic Summit in Abuja on Monday, revealed that the tax [...]

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]]> “Do Not Increase VAT.” – Tinubu Tells Federal Government https://www.theinfostride.com/do-not-increase-vat-tinubu-tells-federal-government/ Thu, 28 Mar 2019 14:26:53 +0000 https://www.theinfostride.com/?p=230020 APC leader, Bola Tinubu has asked FG to not increase VAT. His exact words were, “Don’t reduce the people’s purchasing power.” Speaking at the gathering held in commemoration of his 67th birthday, he said, “I must say this to Prof Osinbajo and his team, don’t increase VAT but increase tax net to accommodate those who [...]

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]]> Nigeria Generates N204.77bn From VAT In The First 4 Months https://www.theinfostride.com/nigeria-generates-n204-77bn-from-vat-in-the-first-4-months/ Thu, 29 Jun 2017 06:54:09 +0000 http://www.theinfostride.com/?p=170052 The National Bureau of Statistics (NBS) said that Nigeria generated the sum of N204.77 billion as Value Added Tax (VAT) in the first quarter of 2017. VAT is a consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. The NBS stated this in [...]

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