?948.07 billion VAT is recorded in Nigeria in Q3 2023 – NBS

According to the study, the amount grew by 21.34% in Q2 2023 compared to ?781.35 billion in Q2 of 2023.According to the National Bureau of Statistics (NBS), in Q3 2023, the total Value Added Tax (VAT) was ?948.07 billion.This is in line with the VAT Q3 2023 Report, which was made public on Monday in Abuja. According to the study, the amount grew by 21.34% in Q2 2023 compared to ?781.35 billion in Q2 of 2023.According to the report, in Q3 2023, import VAT contributed ?221.41 billion, international VAT payments contributed ?204.58 billion, and local payments registered ?522.08 billion. According to the report, forestry, fisheries, and agriculture had the highest quarter-over-quarter growth rates, coming in at 91.87%. "Activities of extraterritorial organizations and bodies followed with 80.25%."