South-east Contributed N101.09bn — Received N341.45bn From VAT Pool In 2024 - Politics

 

The five Southeastern states in Nigeria collectively contributed N101.09 billion to the country’s Value Added Tax (VAT) pool in 2024 and received a staggering share of N341.45 billion in return.

According to data compiled by Agora Policy, a Nigerian think tank committed to finding practical solutions to national challenges, Lagos contributed 54% of the total non-import VAT, while 33 states collectively accounted for 19%.

The Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS) were responsible for VAT collections during the year.


Out of the N6.72 trillion total VAT generated, FIRS collected N5.13 trillion, accounting for 76.3% of the pool, while NCS contributed N1.59 trillion, representing 23.7%.

Official figures revealed that VAT revenue for 2024 increased by 85%, rising from N3.64 trillion in 2023 to N6.72 trillion.

While the Southeastern states contributed relatively little to the VAT pool, the region received approximately 3.38 times their contributions.


Below is a breakdown of VAT contributions and allocations for the South-East states in 2024:

1. Anambra
Contributed: N47.53bn

Allocated: N78.00bn

2. Ebonyi
Contributed: N25.11bn

Allocated: N61.43bn

3. Enugu
Contributed: N15.40bn

Allocated: N67.54bn

4. Abia
Contributed: N8.68bn

Allocated: N63.78bn


5. Imo
Contributed: N4.38bn

Allocated: N70.70bn


Total Contribution: N101.09bn

Total Allocation Received: N341.45bn

https://tribuneonlineng.com/south-east-contributed-n101-09bn-received-n341-45bn-from-vat-pool-in-2024/amp/

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