By Abimbola Ogunnaike
The federal government earned a total of N2.33 trillion in revenue from Company Income Tax and Value Added Tax in the fourth quarter of 2023.
The National Bureau of Statistics made this disclosure in its combined CIT and VAT data for Q4 2023, published on Thursday, 15 March, 2024 on its website.
The figure represents a growth from the N2.024 trillion recorded in the third quarter of 2023.
The report showed that CIT and VAT local payments stood at N1.163.93 trillion, and foreign payments hit N922.37 billion in the period under review.
Manufacturing, Information and Communication, Finance and Insurance activities and Mining and Quarrying are the sectors that contributed largest to the revenue growth recorded in Q4, 2023.
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