Business Drive

The Federal Government has raked in N10.1tn from the collection of Value Added Tax under the regime of President General Muhammadu Buhari. The National Bureau of Statistics showed that VAT earnings continued to rise annually throughout the eight-year period. The country earned N759.4bn in 2015, N777.5bn in 2016, N972.4bn in 2017 and N1.1tn in 2018. VAT collections in 2019 amounted to N1.2tn, N1.5tn in 2020, N2.1tn in 2021 while N2.5tn was paid in 2022.