Nigeria's Manufacturing Sector Leads in VAT Revenue Collection
Nigeria's manufacturing sector emerged as the top contributor to Value Added Tax (VAT) revenue in the country, generating N584.63 billion in the first half of 2025. The data from the National Bureau of Statistics (NBS) revealed that the manufacturing sector accounted for 26.6% of the total VAT collection, amounting to N2.197 trillion.
Despite challenges like high inflation, exchange rate volatility, poor power supply, and weak consumer demand, the sector played a crucial role in Nigeria's economic development. The Governor of the Central Bank of Nigeria (CBN) highlighted the positive impact of economic reforms on inflation reduction and foreign exchange stability.
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