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VAT rises in Nigeria

Online VAT: Where Nigerian Government Got It Wrong - Tekedia

VAT rises in Nigeria: "Nigeria generated a sum of N496.39 billion revenue from Value Added Tax (VAT) in the first quarter of 2021, a surge of 52.93% year-on-year compared to N324.58 billion recorded in the corresponding period of 2020.

This is contained in the sectoral distribution of value added tax report, recently released by the National Bureau of Statistics (NBS)." Simply, the economy is showing more lives compared to where we were last year.

This also follows blockbuster numbers from the Nigerian Customs: "The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year. This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday."

There is nothing special here, for as long as we cannot innovate, we would continue to financially engineer hardship.

Good evening.