The National Bureau of Statistics said the country generated N338.94 billion as Value Added Tax (VAT) in the first
quarter of the year.
This represents a 15.66 percent year-on-year rise when compared to N293.04 billion generated in the corresponding period of last year.
It also showed a 9.9 percent increase quarter-on-quarter, against N308.48 billion generated in the fourth quarter of 2019.
The NBS disclosed this in its Sectoral Distribution of VAT Report for Q1’20.