Orisemeke Benjamin

The National Bureau of Statistics (NBS) said the Value Added Tax (VAT) in the second quarter of 2025 was N2.06 trillion.

In its second quarter ‘Sectorial Distribution of Value Added Tax’ report posted on its website, the figure showed a decrease of 0.03% on a quarter-on-quarter basis from N2.06 trillion in Q1 2025.

According to the statistics bureau, local payments stood at N1.09 trillion, foreign VAT payments were N459.95 billion, while import VAT contributed N508.55 billion in Q2 2025.

On a quarter-on-quarter basis, Real estate activities recorded the highest growth rate with 155.21%, followed by Agriculture, forestry and fishing with 23.64%, and Information and communication with 17.75%.

“On the other hand, Human health and social work activities had the lowest growth rate with –68.34%, followed by electricity, gas, steam and air conditioning supply with – 45.20%; and Water supply, sewerage, waste management and remediation activities with –29.36%.

“In terms of sectoral contributions, the top three activities with the largest shares in Q2 2025 were Manufacturing with 27.19%; Information and communication with 20.76%; and Mining and quarrying with 15.04%.

“Conversely, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the lowest share with 0.005%, followed by activities of extraterritorial organizations and bodies with 0.02%; and Water supply, sewerage, waste management with 0.03%. However, on a year-on-year basis, VAT collections in Q2 2025 increased by 32.15% from Q2 2024,” the report stated.