Nigeria’s federal government generated 625.39 billion nairas ($1.4 billion) in value-added tax (VAT) in the third quarter of 2022, up 25.95% from the previous year. 

The tax payments collected rose by 4.21% from 600.15 billion nairas in the second quarter of the year, Premium Times newspaper reported, citing National Bureau of Statistics (NBS) data. 

Arts, entertainment and recreation supply activities recorded the highest growth rate of 61.09%, followed by activities of extraterritorial organisations and bodies (44.47%). 

Foreign VAT payments were 121.85 billion nairas, while import VAT contributed 135.61 billion nairas in the third quarter. 

The three largest shares came from manufacturing (31.08%), information and communication (18.52%), and mining and quarrying (10.95%). 

(Editing by Cleofe Maceda; Cleofe.maceda@lseg.com)