N246.30bn Generated as VAT in Q2 2017 - NBS

Taxes & Tariffs
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Friday, October 20, 2017 1:00PM /NBS 

Sectoral distribution of Value Added Tax (VAT) data for Q2 2017 reflected that the sum of N246.30bn was generated as VAT in Q2 2017 as against N204.77bn generated in Q1 2017 and N187.03bn in Q2 2016 representing 20.28% Increase Quarter-on-Quarter and 31.69% increase Year-on-Year. 

Other manufacturing generated the highest amount of VAT with N33.69bn generated and closely followed by Professional Services and Oil Producing both generating N21.64bn and N14.94bn respectively while Mining generated the least and closely followed by Local Government Councils and Pharmaceutical, Soaps & Toiletries with N34.19 mln, N154.72 mln and N194.26 mln generated. 

Out of the total amounted generated in Q2 2017, N137.79bn was generated as Non-Import VAT locally while N59.83bn was generated as Non-Import VAT for foreign. The balance of N48.68bn was generated as NCS-Import VAT. 

Click Here to Download VAT Q2 2017 (PDF) Report

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Latest 2017 NBS Reports

Q4 2017

1.       Lagos State Has 7,396 Prison Inmates Population in 2016 - NBS
2.      Average Prices of PMS, AGO, HHK and Cooking Gas - September 2017
3.      Average Air Fare Increased by 31.31% YoY in September 2017
4.      Average Price of 1kg of Yam Tuber Increased by 28.65% YoY in September 2017
5.      CPI Drops to 15.98% in Sept 2017, 0.03% Lower Than 16.01% August Rate
6.      Multiple Indicator Cluster Survey 2016-17
7.      Pension Fund Asset under Management as at 31 December 2016 stood at N6,164.76bn - NBS
8.     835.58m Crude Oil Processed from 1997 to 2014
9.      N701.85bn Gross Revenue Generated in July 2017

Q3 2017
10.  FAAC Disburses N467.85bn in August 2017 - NBS
11.   Lagos Accounted for 74.8% of International Passenger Traffic in Q2 2017
12.  Lagos State Has the Highest Foreign and Domestic Debts as at June 2017
13.  CPI Drops to 16.01% in August 2017, 0.04% Lower Than 16.05% July Rate
14.  Average Air Fare Increased by 32.75% YoY in August 2017
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16.  Average Price of 1kg of Yam Tuber Increased by 53.98% YoY in August 2017
17.   Nigeria’s Merchandise Trade Grew Marginally QoQ but Significantly YoY in Q2 2017
18.  2,287 Drug Abuse Convictions Secured in 2016 - NBS
19.  Average Price of 1kg of Tomato Increased YoY by 15.65% in July 2017 - NBS
20. Average Prices of PMS, AGO, HHK and Cooking Gas - July 2017
21.  Average Intercity Fare Increased YoY by 27.49% in July 2017 - NBS
22. CPI Drops to 16.05% in July 2017, 0.05% Lower Than 16.10% June Rate
23. Total Value of Capital Imported into Nigeria in Q2 2017 Estimated at $1,792.3m - NBS
24. FAAC Disburses N652.23bn in July 2017 - NBS
25.  Active Voice Subscribers Dropped by 6.67% in Q2 2017 – NBS
26. Banking Sector Records 327.37m Volume of Transactions in Q2 2017 - NBS
27.  870,397 Candidates Sat for NECO in June and July 2016
28. 3,457 Nigerians Repatriated from Abroad in 2016 – NBS
29. Corruption in Nigeria - Bribery as Experienced by the Population
30. Nigeria Produced 656.8m Barrels of Crude Oil in 2016
31.  2,503 Road Traffic Crashes Recorded in Q2 2017 - NBS
32. Daily Energy Generation Attained a Peak of 4,079MW in Q2 2017 - NBS
33. 7.59m Nigerians Are Registered Under the National Pension Scheme as at Q2’17 - NBS
34. FAAC Disburses N462.36bn in June 2017 - NBS
35.  NBS Annual Abstract of Statistics 2016
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37.  Average Intercity Transport Fare Decreases to N1,559.68 in Jun’17 from N1,565 in May’17
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39. CPI Drops to 16.10% in June 2017, 0.15% Lower Than 16.25% May Rate 

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43.   Average Intercity Transport Fare Decreases to N1,5865. in May’17 from N1,587.04 in Apr’17
44.   Average Price Of 1kg Of Yam Tuber Increased YoY by 52.69% in May 2017 - NBS
45.   CPI Drops to 16.25% in May 2017, 0.99% Lower Than 17.24% April Rate
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