Nigerians are shock over the abysmal figures of the first quarter 2025 Value Added Tax (TAX) generated by each State of the federation. Apart Lagos, Rivers and Oyo State, others performed below expectations.
The worst States performed States are the South East, even Abia and Anambra that are known for her trade and small scale entrepreneurs. What of Imo State that rings bell on hospitality and tourism?
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it.
Analysts blamed insecurity as being the cause of poor performance in those States.
1. Lagos: N819.62bn
2. Rivers: N278.23bn
3. Oyo: N79.78bn
4. Bayelsa: N27.26bn
5. Kano: N22.97bn
6. Edo: N20.73bn
7. Delta: N20.04bn
8. Akwa-Ibom: N16.08bn
9. Kwara: N14.43bn
10. Benue: N12.36bn
11. Jigawa: N11.22bn
12. Sokoto: N10.88bn
13. Anambra: N10.73bn
14. Ekiti: N10.17bn
15. Adamawa: N9.12bn
16. Kaduna: N8.12bn
17. Borno: N7.87bn
18. Ebonyi: N7.43bn
19. Kogi: N7.33bn
20. Ogun: N7.20bn
21. Ondo: N7.14bn
22. Nasarawa: N7.05bn
23. Bauchi: N6.30bn
24. Niger: N5.97bn
25. Katsina: N5.96bn
26. Osun: N5.95bn
27. Yobe: N5.81bn
28. Plateau: N5.55bn
29. Kebbi: N5.13bn
30. Enugu: N4.96bn
31. Gombe: N4.61bn
32. Zamfara: N3.77bn
33. Abia: N2.92bn
34. Cross River: N2.65bn
35. Imo: N2.34bn
36. Taraba: N2.33bn
<FAAC report>
#TheCableIndex
0 Comments