Manufacturing leads non-oil tax revenue with N404bn VAT, CIT contribution in Q1’26

Nigeria’s manufacturing sector reinforced its role as a major contributor to government revenue in the first quarter of 2026 (Q1’26), generating N329.59 billion in Value Added Tax (VAT) and N74.48 billion in Company Income Tax (CIT), totalling N404.07 billion.
Data obtained from the National Bureau of Statistics (NBS) highlight the sector’s continued importance to Nigeria’s non-oil revenue base despite persistent economic and operating challenges facing manufacturers.
NBS data showed that VAT collections from manufacturing activities rose by 14.86 per cent year-on-year to N329.59 billion in Q1’26 from N286.95 billion recorded in the corresponding period of 2025. The amount also exceed...