Nigeria's VAT Collection Reaches N1.08 Trillion in January

Nigeria's Value Added Tax (VAT) collection hit a record N1.08 trillion in January 2026, showing an 18.5% increase from N913.96 billion in December 2025. The new share formula allocates 10% to the Federal Government, 55% to states, and 35% to local governments, with the Federal Government receiving N100.32 billion, states N551.77 billion, and local governments N351.13 billion.

In related news, the UK government has imposed an emergency ban on study visas for Afghanistan, Cameroon, Myanmar, and Sudan due to a significant rise in asylum claims from these nations, which increased by 470% from 2021 to 2025. This change, effective March 26, follows amendments to immigration rules on March 5, 2026.

The asylum claims from these four countries now account for nearly 40% of total applications, with the UK government spending approximately £4 billion annually to support asylum seekers.