N338.94bn Generated As VAT in Q1 2020 - NBS

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Thursday, May 15, 2020  04:00 PM / NBS/ Header Image Credit:  NBS


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Sectoral distribution of Value Added Tax (VAT) data for Q1 2020 reflected that the sum of N338.94bn was generated as VAT in Q1 2020 as against N308.48bn generated in Q4 2019 and N293.04bn generated in Q1 2019 representing 9.87increase Quarter-on-Quarter and 15.66% increase Year-on-Year.

 

Professional Services generated the highest amount of VAT with N38.30bn generated and closely followed by Other Manufacturing generating N37.37bn, Commercial and Trading generating N17.19bn while Mining generated the least and closely followed by Textile and Garment Industry and Local Government Councils with N61.83m, N306.05m and N319.04m generated respectively.

 

Out of the total amounted generated in Q1 2020, N172.67bn was generated as Non-Import VAT locally while N93.67bn was generated as Non-Import VAT for foreign. The balance of N72.59bn was generated as NCS-Import VAT.

 

Click Here to Download Q1 2020 VAT PDF Report

 

Latest 2020 NBS Reports

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Q2 2020

1.      Total Household Expenditure on Food and Non-food Was Put At N40.21bn in 2019 - NBS

2.     Poverty and Inequality in Nigeria 2019: 40% of Total Population Classified as Poor

3.     GDP By Income and Expenditure Approach Q4 2019 - Household Final Consumption Declined by -2.40%

4.     Average Price of 1kg of Rice Increased By 21% YoY to N438.66 In March 2020

5.     Average Transport Fare Paid By Commuters Within City Increased By 1.89% MoM in March 2020

6.     Average Prices of PMS, AGO, HHK and Cooking Gas - March 2020

7.      Headline Inflation Increases By 12.26% YoY In March 2020; 0.06% Higher Than February 2020 Rate

8.     Nigeria's Total Public Debt Stood At N27.40trn in Q4 2019 - NBS

9.     FAAC Disburses N647.35bn in February 2020 - NBS 


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Q1 2020

1.      Banking Sector Records 893.68m Volume of Transaction in Q4 2019 - NBS

2.     Active Voice Subscription Grew By 3.08% in Q4 2019 - NBS

3.     All Commodity Group Import Index Fell by 3.27% Due Mainly to Declines in the Prices of Goods

4.     Average Prices of 1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS

5.     Average Fare Paid By Commuters For Bus Journey Intercity Increased By 0.91% MoM in February 2020

6.     Average Prices Of PMS, AGO, HHK and Cooking Gas - February 2020

7.      Headline Inflation Increases By 12.20% YoY In February 2020; 0.07% Higher Than January 2020 Rate

8.     FAAC Disburses N716.30bn in January 2020 - NBS

9.     FAAC Disburses N2.93trn to FG in 2019 - NBS

10.  Total Value of Capital Imported in Q4 2019 Stood At $3,802.38m - NBS

11.   FAAC Disburses N650.83bn in December 2019 - NBS

12.   Nigeria's Merchandise Trade Grew in Q4 2019; Imports Rose Faster Exceeding Falling Exports

13.   Nigeria's GDP Grew By 2.55% in Real Terms in Q4 2019 and 2.27% in Full Year 2019

14.   Average Prices of 1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS

15.   Average Prices Of PMS, AGO, HHK and Cooking Gas - January 2020

16.   Headline Inflation Increases By 12.13% YoY In January 2020; 0.15% Higher Than December 2019 Rate

17.   N293.80bn Generated as IGR in Q3 2019 - NBS

18.  Nigeria's Total Public Debt Stood At N26.14trn in Q3 2019 - NBS

19.   Average Intercity Fare Increases By 1.43% MoM To N1, 666.57 In December 2019

20.  Average Price of 1kg of Tomato Decrease YoY by -2.80% To N263.90 In December 2019

21.   All Commodity Group Index Grew By 2.48% in Q3 2019

22.  Average Prices Of PMS, AGO, HHK and Cooking Gas - December 2019

23.  Headline Inflation Increases By 11.98% YoY In December 2019; 0.13% Higher Than November 2019 Rate

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