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

Sectoral distribution of ValueAdded Tax (VAT) data for Q1 2020 reflectedthat 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 9.87% increase Quarter-on-Quarter and 15.66% increase Year-on-Year.

Professional Services generated the highest amount ofVAT with N38.30bngenerated and closely followed by Other Manufacturing generating N37.37bn, Commercial and Tradinggenerating N17.19bn while Mining generated theleast and closely followed by Textile and Garment Industry and LocalGovernment Councils withN61.83m,N306.05mand N319.04mgenerated respectively.

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

Click Here to Download Q1 2020VAT PDF Report

Latest2020 NBS Reports

Q2 2020

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

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

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

4.    Average Price of1kg of Rice Increased By 21% YoY to N438.66 In March 2020

5.    Average TransportFare 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 InflationIncreases By 12.26% YoY In March 2020; 0.06% Higher Than February 2020 Rate

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

9.    FAAC DisbursesN647.35bn in February 2020 - NBS 

Q1 2020

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

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

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

4.    Average Prices of1kg of Tomato Decreased By -10.65% YoY to N237.22 in Jan 2020 - NBS

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

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

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

8.    FAAC DisbursesN716.30bn in January 2020 - NBS

9.    FAAC DisbursesN2.93trn to FG in 2019 - NBS

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

11.  FAAC DisbursesN650.83bn in December 2019 - NBS

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

13.  Nigeria's GDP GrewBy 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 InflationIncreases By 12.13% YoY In January 2020; 0.15% Higher Than December 2019 Rate

17.  N293.80bnGenerated as IGR in Q3 2019 - NBS

18. Nigeria's TotalPublic 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 of1kg of Tomato Decrease YoY by -2.80% To N263.90 In December 2019

21.  All Commodity Group Index Grew By 2.48% in Q32019

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

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