Between January and September 2025, Nigeria's Federal Inland Revenue Service (FIRS) and Customs Service (NCS) delivered an economic thunderbolt, collecting a combined N6.41 TRILLION in Value Added Tax (VAT)!
With this massive injection of funds into the economy, what are the top 3 national projects or sectors the Federal Account Allocation Committee (FAAC) should prioritize for disbursement?
Do these record-breaking figures indicate stronger economic activity, better tax compliance, or primarily the effect of inflation and exchange rate changes?
Share your thoughts on how this massive N6.41trn should be spent!
Federal Inland Revenue Service collects N4.92trn in value added tax (VAT) (Jan-Sep 2025)
Jan: N564.61bn
Feb: N499.77bn
Mar: N492.58bn
Apr: N464.50bn
May: N565.33bn
Jun: N524.87bn
Jul: N528.62bn
Aug: N575.85bn
Sep: N698.93bn
Total: N4.92trn
https://x.com/thecableindex/status/1981432267466821950
Nigeria Customs Service collects N1.49trn in value added tax (VAT) (Jan-Sep 2025)
Jan: N207.27bn
Feb: N154.69bn
Mar: N145.04bn
Apr: N177.76bn
May: N177.49bn
Jun: N153.29bn
Jul: N159.32bn
Aug: N146.77bn
Sep: N173.70bn
Total: N1.49trn
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