Report Reveals Real Estate Sector Paid N70bn VAT In Five Years   Value Added Tax (VAT) generated from the construction and real estate sector rose by 124 per cent from N10bn in 2018 to N22.45bn in 2022. An analysis of the National Bureau of Statistics’ quarterly VAT...

Manufacturers Tax Payments Rise to N62bn in Q1 2023 – NBS The Company Income Tax that manufacturers paid rose by 29 per cent to N62bn in the first quarter of 2023 from N44bn in the same period last year, according to reports published by the...

Ondo, Kogi, Rivers lead as Inflation Rises to 22.41% - NBS   The National Bureau of Statistics (NBS) says the average prices of goods rose the highest year-on-year in Ondo, Kogi, and Rivers states. This is as inflation in the country rose to 22.41 per cent in...

Taxes On Products Rise By 112%, Now N3trn   Total taxes on products in the economy rose by 112.02 per cent from N1.43tn in 2019 to N3.03tn in 2022, coinciding with a Value Added Tax hike from five per cent in 2020 to 7.5 per cent...

Naira Depreciation, Inflation Affect N13.72tn Workers’ Salary – Report The continued depreciation of the naira and persistent inflation has eroded the N13.72tn workers’ salaries gained in the last four years, according to the National Bureau of Statistics report. This is as total workers’ salaries in the...

Nigeria Imported N1.5trn Raw Sugar In Six Years   Nigeria’s importation of raw sugar rose to N1.54tr between 2017 and 2022, an analysis of quarterly reports of the country’s foreign trade reports released by the National Bureau of Statistics (NBS) has shown. The reports indicated that the...