Browse Tag

Value Added Tax

FIRS Urges Non-Domestic Oil Shipping Companies To Comply With Tax Laws In Nigeria

NRS Clarifies: VAT on Banking Fees Not Newly Introduced

January 15, 2026

The Nigeria Revenue Service (NRS) has dismissed media reports suggesting that a new Value Added Tax (VAT) on banking services and electronic transfers has been introduced, describing such claims as misleading. In

Business News·News·Top Stories

7.5% VAT Hits Mobile Transfers, USSD Payments in Nigeria Starting January 19

January 15, 2026

Nigerians sending money through mobile banking or USSD platforms will, from Monday, January 19, 2026, incur a 7.5 percent Value Added Tax (VAT) on service charges, following a directive issued by the

Business News

Manufacturers’ VAT Rises 39% To N803.5bn Despite Low Output

August 27, 2025

Nigeria’s manufacturing sector contribution to Value-added Tax (VAT) rose by 39 per cent to ₦803.5 billion in 2024 from ₦578.39 billion recorded in 2023. This growth occurs amid a challenging economic environment

Business News·News

Imo, Zamfara, Abia Record Lowest VAT In August

November 21, 2024

Imo, Abia and Zamfara states are the top three states in Nigeria that recorded the lowest Value Added Tax (VAT) in August 2024. According to data released recently by the Federal Inland

Business News·FEATURES

10 Sectors With Highest VAT Contributions In Q2 2024

September 12, 2024

Value Added Tax (VAT) in Nigeria is a type of consumption tax imposed on the value added to goods and services at each stage of production and distribution. Introduced in 1993 to

HURIWA Condemns Security Agencies Clampdown On Media, Protesters

News

HURIWA Demands Reversal Of VAT Hike, Warns Against Imposing Additional Burden On Nigerians

September 9, 2024

Human Rights Writers Association of Nigeria (HURIWA) has called on the Nigerian government to rescind its decision to increase the Value Added Tax (VAT) from 7.5% to 10%. It said the policy

Finance & Economy·News

Proposed VAT, Petrol Price Hike Will Deepen Cost-of-living Crisis – Atiku

September 9, 2024

Former vice president, Atiku Abubakar, has criticised the proposed increase of the value-added tax (VAT) by the Tinubu-led administration from 7.5 per cent to 10 per cent. Prime Business Africa reports that

Finance & Economy

Top 5 Nigeria’s Sectors that Paid Highest VAT In 2023

March 20, 2024

Value Added Tax (VAT) collection in Nigeria has experienced significant improvement over the years. Currently one of Nigeria’s main sources of revenue, aside from oil, VAT which is managed by the Federal Inland Revenue

Nigeria: Top 10 Performing Sectors By VAT Contribution In Q1 2024

Business News·Finance & Economy

Nigeria’s VAT Collections Increase By 72.12% YoY Record N1.20trn In Q4 2023

March 19, 2024

Nigeria recorded a total of N1.20 trillion as Value Added Tax (VAT) contributions to the economy in the fourth quarter (Q4) of 2023.

Buhari Pledges Support For Stability Of Chad

Business News

Cost of Goods Set To Rise Again, As Governors Want Buhari To Increase VAT to 20 percent

August 5, 2022

Nigerian governors have urged the Federal Government to increase the Value Added Tax (VAT) to 15 percent, and remove petrol subsidy in order to raise the government’s revenue, and reduce expenditure. The

Business News·Insights

Umar Yahaya: FG Takes Major Step In Accessing Unclaimed Dividends, Threatening Shareholders’ Investments

July 21, 2022

On July 23, 2021, the Federal High Court in Abeokuta, Ogun state, restrained the Federal Government from accessing shareholders’ unclaimed dividends, but recent event has shown the government is not backing off.

Business News

Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months

June 27, 2022

The Federal, States and Local Governments received ₦680.783 billion from the Federation Account Allocation Committee (FAAC) in May 2022. This includes funds generated from Value-Added Tax (VAT) and Electronic Money Transfer Levy

Business News·News

FIRS To Visit Tax Defaulters, Issues Two Weeks Deadline To Remit Tax

June 10, 2022

The Executive Chairman of Federal Inland Revenue Service (FIRS), Muhammad Nami, has given taxpayers and tax agents two weeks to remit their tax and funds received on behalf of the tax agency,

Finance & Economy·Top Stories

Cookie	Duration	Description
cookielawinfo-checbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Value Added Tax

NRS Clarifies: VAT on Banking Fees Not Newly Introduced

7.5% VAT Hits Mobile Transfers, USSD Payments in Nigeria Starting January 19

Manufacturers’ VAT Rises 39% To N803.5bn Despite Low Output

Imo, Zamfara, Abia Record Lowest VAT In August

10 Sectors With Highest VAT Contributions In Q2 2024

HURIWA Demands Reversal Of VAT Hike, Warns Against Imposing Additional Burden On Nigerians

Proposed VAT, Petrol Price Hike Will Deepen Cost-of-living Crisis – Atiku

Top 5 Nigeria’s Sectors that Paid Highest VAT In 2023

Nigeria’s VAT Collections Increase By 72.12% YoY Record N1.20trn In Q4 2023

Cost of Goods Set To Rise Again, As Governors Want Buhari To Increase VAT to 20 percent

Umar Yahaya: FG Takes Major Step In Accessing Unclaimed Dividends, Threatening Shareholders’ Investments

Three Revenue Sources That Helped Nigerian Gov’t Make ₦680.78 billion From Nigerians In One Months

FIRS To Visit Tax Defaulters, Issues Two Weeks Deadline To Remit Tax

VAT: Court Judgment May Not End Controversy

Lagos Governor Signs VAT Bill Into Law

Featured Stories

Wealth Without Access is Stranded Wealth – Opiva Capital Chairman

‘Naija Spirit’ Heads to Birnin Kebbi After UNILAG Outing

ICPC Petitioned Over Alleged N50bn Contract, N1.9bn Shortfall in Presidential Amnesty Programme

Lithium: Will Nigeria Repeat the Oil Curse?

Whatsapp Channel

Latest News

Air Peace Adds Free Airport Transfers for Premium London Passengers

Nigeria’s Dangut Takes Helm of WAEC as Regional Exam Body Expands Digital Testing

Taiwan Receives First F-16Vs as China Military Pressure Intensifies

Elumelu Raises Seplat Energy Stake to 21.07% With £53.2 Million Purchase

India-New Zealand Free Trade Agreement to Take Effect on Oct. 20

UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

Top 5 Best-Performing Industrial Goods Stocks In Q1 2026

Naira Weakens Against Dollar, Gains On Pound, Euro In Official Market

Air Peace Adds Free Airport Transfers for Premium London Passengers

Suggestions

Value Added Tax

Featured Stories

Follow Us

Whatsapp Channel

Latest News