Nigeria's Mining Sector Sees N686.96 Billion VAT in 2025

In 2025, Nigeria's mining sector recorded a Value Added Tax (VAT) contribution of N686.96 billion, according to data released by the National Bureau of Statistics (NBS). This figure marks a notable increase from the N556.19 billion recorded in 2024, indicating improvements in tax compliance and revenue mobilization within the sector.

Despite this growth, the mining sector has historically underperformed in contributing to Nigeria's economy, facing structural challenges that limit its overall economic impact. The NBS data shows that the VAT contribution from the mining sector remained stable throughout 2025, demonstrating a steady quarterly trend in revenue inflow despite broader economic pressures.

Additionally, a report from Nairametrics indicated that the mining and quarrying sector contributed a total of N723.33 billion in company income tax for 2025, a significant increase from N520.34 billion in 2024. However, there was a reported decline of 3.78% in the sector's contribution to the overall economy in the third quarter of 2025.