Nigerian Government Generates N8.09 Trillion from VAT and Electronic Money Transfers

The Nigerian government has generated N8.09 trillion from Value Added Tax (VAT) and electronic money transfers in 11 months. VAT collections varied monthly, with a total of N7.69 trillion collected, while electronic money transfer levy (EMTL) replaced stamp duty, effective January 1, 2026.

The EMTL charges N50 on transfers above N10,000, with FIRS overseeing the collection. The government aims to boost revenue through these measures.