NBS: VAT revenue increased by 32% to N2.06trn in Q2 2025

The National Bureau of Statistics (NBS) says the aggregate value added tax (VAT) stood at N2.06 trillion in the second quarter (Q2) of 2025.

According to NAN, the figure is contained in the VAT Q2 2025 report released by NBS on Tuesday in Abuja.

On year-on-year basis, the bureau said VAT revenue grew by 32.15 percent compared to the N1.56 trillion recorded in Q2 2024.

NBS added that the Q2 VAT collections represent a decline of 0.03 percent compared to the N2.06 trillion recorded in the first quarter (Q1) of 2025.

A breakdown of the numbers shows that local VAT payments amounted to N1.09 trillion, foreign VAT payments contributed N459.95 billion, while import VAT accounted for N508.55 billion in the period under review.

The report shows 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.

“On the other hand, human health and social work activities had the lowest growth rate at –68.34 percent, followed by electricity, gas, steam and air conditioning supply with –45.20 per cent,” the NBS said.

“This was followed by water supply, sewerage, waste management and remediation activities at  -29.36 percent.”

In terms of sectoral 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.

“On the other hand, activities of households as employers, undifferentiated goods and services-producing activities of households for own use recorded the least share at 0.005 percent,” the bureau said.

“This was followed by activities of extraterritorial organisations and bodies at 0.02 percent, and water supply, sewerage, waste management at 0.03 percent.”

On year-on-year, the bureau said VAT revenue grew by 32.15 percent compared to the N1.56 trillion recorded in Q2 2024.

Q1 2025 VAT PERFORMANCE 

The NBS said VAT collections in Q1 2025 also stood at N2.06 trillion, representing a 6.02 percent increase from the N1.95 trillion recorded in Q4 2024.

The report said local VAT payments were N1.10 trillion, foreign VAT payments amounted to N454.76 billion, while import VAT contributed N507 billion.

On a quarter-on-quarter basis, the bureau said electricity, gas, steam and air conditioning supply recorded the highest growth at 136.71 percent, followed by administrative and support services at 45.24 percent, and professional, scientific and technical services at 39 percent.

“On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate at 35.70 percent , followed by wholesale and retail trade, repair of motor vehicles and motorcycles; and real estate activities at –14.51 percent and –11.54 percent, respectively,” the report said.

In terms of sectoral contributions, NBS said manufacturing accounted for the biggest share of VAT in Q1 2025 at 26.03 percent, while information and communication, and mining and quarrying contributed 17.51 percent and 17.02 percent, respectively.

“On the other hand, activities of households as employers, undifferentiated goods and services-producing activities of households for own use recorded the least share at 0.004 percent,” NBS said.

“This was followed by activities of extraterritorial organisations and bodies at 0.02 percent, and water supply, sewerage, waste management at 0.04 percent.”

However, on year-on-year, the report said VAT revenue in Q1 2025 rose by 44.24 percent compared with Q1 2024.