Abuja, Nigeria – August 9, 2025
The Federal Government generated ₦1.9 trillion in Value Added Tax (VAT) revenue in the fourth quarter of 2024, according to the latest data released by the National Bureau of Statistics (NBS).
The report showed a significant year-on-year increase compared to the same period in 2023, driven by improved tax compliance, digital collection systems, and expanded coverage of VAT-able goods and services.
The NBS breakdown revealed that the manufacturing, information and communication, as well as financial and insurance sectors were the top contributors to VAT revenue during the quarter.
Officials attributed the performance to ongoing fiscal reforms under President Bola Tinubu’s administration, aimed at boosting non-oil revenue and reducing reliance on crude oil earnings.
The Federal Government reaffirmed its commitment to further strengthening tax administration and plugging leakages to sustain revenue growth for infrastructure, social services, and economic development.
