Nigeria's Manufacturing Sector Hits Record N329.59bn VAT

In the first quarter of 2026, Nigeria's manufacturing sector remitted a record N329.59 billion in Value Added Tax (VAT), representing a 12.82% increase from N292.12 billion in the fourth quarter of 2025. This figure surpasses the previous peak of N297.68 billion recorded in the second quarter of 2025.

The latest remittance is nearly three times the amount of N112.97 billion from the first quarter of 2022, indicating a significant growth trend in the sector. Over the past four years, VAT remittances from the manufacturing sector have consistently risen, with total contributions of N477.43 billion in 2022 and N578.39 billion in 2023.

The first quarter of 2026's remittance also accounts for 29.75% of the total VAT generated in Nigeria, which was N2.42 trillion. The National Bureau of Statistics reported that the overall VAT collection increased by 9.98% compared to the previous quarter, highlighting the manufacturing sector's vital role in the economy.