September 5, 2023/FBNQuest Our chart today, drawn from company income tax (CIT) data produced by the National Bureau of Statistics (NBS), shows that total CIT receipts into the federation’s account amounted to NGN1.5trn in Q2 ’23. The amount represents a substantial rise in CIT collection compared to the NGN714bn and […]
OPINION/EDITORIAL
VAT Revenue Increased by 30% YoY to N781bn in Q2 2023
September 4, 2023/FBNQuest Research According to the most recent report on value-added-tax (VAT) from the NBS, the federation’s gross VAT collections for Q2 ‘23 increased by 10% q/q and 30% y/y to NGN781bn. The total VAT collection in Q2 implies gross VAT collections of almost NGN1.5trn in H1 ‘23, representing […]
Anchor Borrowers’ Loan Default; Possible Recovery Underway?
September 4, 2023/CSL Research The ambitious Anchor Borrowers’ Loan Scheme floated by the Central Bank of Nigeria to make cash available for increased agricultural production in Nigeria has run into a halt due to the inability of beneficiaries to repay the loan upon maturity thereby holding up government funds and […]
