The National Bureau of Statistics (NBS) has released its latest report on Value Added Tax (VAT) collections, revealing that Nigeria’s VAT revenue hit ₦2.06 trillion in Q2 2025.
While the total collection of Nigeria’s VAT revenue showed a marginal quarter-on-quarter (QoQ) decline of 0.03% from Q1 2025 (which also recorded ₦2.06 trillion), the year-on-year (YoY) performance represented an upward trend by 32.15% compared to Q2 2024.
The detailed breakdown provided by the NBS revealed the various contributors to Nigeria’s total VAT revenue in Q2 2025.
Local VAT payments emerged as the largest segment, accounting for ₦1.09 trillion of the total. This was followed by Import VAT, which contributed ₦508.55 billion, and Foreign VAT Payments, which stood at ₦459.95 billion.
On a quarter-on-quarter basis, the report showed that real estate activities recorded the highest growth rate at 155.21 percent, followed by the activities of Agriculture, forestry, and fishing at 23.64 percent.
This was followed by Information and communication at 17.75 per cent.
“On the other hand, human health and social work activities had the lowest growth rate at –68.34 per cent, followed by electricity, gas, steam, and air conditioning supply with – 45.20 per cent.
“This was followed by Water supply, sewerage, waste management, and remediation activities at –29.36 per cent.”
In terms of sectoral contributions, the report showed the top three activities with the largest shares in Q2 2025 were manufacturing at 27.19 per cent, information and communication at 20.76 per cent, and mining and quarrying at 15.04 per cent.
“On the other hand, activities of households as employers, undifferentiated goods and services-producing activities of households for own use recorded the least share at 0.005 per cent.
“This was followed by activities of extraterritorial organisations and bodies at 0.02 per cent, and water supply, sewerage, waste management at 0.03 per cent.”
However, on a year-on-year basis, it showed that VAT collections in Q2 2025, increased by 32.15 per cent from Q2 2024.
Meanwhile, the aggregate VAT for Q1 2025 stood at N2.06 trillion, showing an increase of 6.02 per cent from the N1.95 trillion recorded in Q4 2024.
According to the VAT Q1 2025 report, local payments recorded were N1.10 trillion, while foreign VAT payments contributed N454.76 billion, and import VAT contributed N507.00 billion.
On a quarter-on-quarter basis, the report showed that electricity, gas, steam, and air conditioning supply recorded the highest growth rate at 136.71 per cent, followed by the activities of administrative and support service activities at 45.24 per cent.
This was followed by Professional, scientific, and technical activities at 39.00 per cent.
“On the other hand, activities of extraterritorial organisations and bodies had the lowest growth rate at 35.70 per cent, followed by wholesale and retail trade, repair of motor vehicles and motorcycles; and real estate activities at –14.51 per cent and –11.54 per cent, respectively.”
