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The National Bureau of Statistics on Wednesday released the sectoral report for Value Added Tax for the 2017 fiscal period, stating that the country generated a total of N972.34bn from VAT.
An analysis of the VAT report showed that the amount was collected from 28 sectoral activities during the period under review.
A breakdown of the amount showed that the sum of N204.77bn was generated in the first quarter, while the second third and fourth quarters recorded N246.3bn, N250.56bn and N254.1bn, respectively.
In the report signed by the Statistician General of the Federation and Chief Executive, NBS, Dr. Yemi Kale, the bureau said the manufacturing sector generated the highest amount of VAT revenue at N119bn.
This was closely followed by the professional services sector with N87bn. On the other hand, the report stated that the mining sector generated the least VAT revenue of N168m in the one-year period.
Photo Caption: Statistician-General-of-the-Federation-and-Chief-Executive-Officer-National-Bureau-of-Statistics-Dr.Yemi-Kale
