VAT from Lagos equals and beyond 35 other States, FCT in August 2024
VAT from Lagos equals and beyond 35 other States, FCT in August 2024.
The Federal Inland Revenue Service (FIRS) has disclosed that Value Added Tax (VAT) revenue generated in Lagos State alone in August 2024 was more than the combined total of 35 other states and the Federal Capital Territory (FCT).
According to recent data released by the FIRS, the nationwide VAT revenue for August amounted to N444.19 billion, with Lagos contributing an impressive N249.77 billion.
The report highlights Lagos as Nigeria’s dominant economic hub, generating over 56% of the total VAT collected nationwide.
Rivers State was the second-highest contributor, with N70.54 billion, while Oyo, FCT, and Delta states generated N20.11 billion, N18.17 billion, and N13.09 billion, respectively.
VAT, a 7.5% consumption tax on goods and services, is collected by businesses from consumers at the point of sale and remitted monthly to the FIRS. The revenue is shared among the federal, state, and local governments, serving as a critical source of funding for national development.
Conversely, states like Zamfara (N432.80 million) and Imo (N235.41 million) contributed the least VAT revenue.
Below is the full list of the VAT generated in states and FCT across Nigeria in August 2024:
Lagos: N249.77bn
Rivers: N70.54bn
Oyo: N20.11bn
FCT: N18.17bn
Delta: N13.09bn
Bayelsa: N7.12bn
Kano: N4.65bn
Akwa Ibom: N4.49bn
Anambra: N4.28bn
Edo: N4.05bn
Ekiti: N3.66bn
Borno: N3bn
Kwara: N2.89bn
Adamawa: N2.59bn
Plateau: N2.58bn
Benue: N2.56bn
Gombe: N2.55bn
Kogi: N2.43bn
Kaduna: N2.03bn
Ebonyi: N1.90bn
Taraba: N1.88bn
Sokoto: N1.84bn
Osun: N1.81bn
Ogun: N1.74bn
Niger: N1.73bn
Yobe: N1.71bn
Katsina: N1.68bn
Jigawa: N1.59bn
Nasawawa: N1.47bn
Ondo: N1.45bn
Enugu: N1.08bn
Cross River: N1.08bn
Bauchi: N691.28m
Kebbi: N665.17m
Abia: N663.42m
Zamfara: N432.80m
Imo: N235.41m
Total: N444.19bn
