From News Editor
The six Southwestern states in Nigeria collectively contributed N3.11 trillion to the country’s Value Added Tax (VAT) pool in 2024 and received N849.7 billion.
This contrasts with the Southeastern states, which collectively contributed N101.09 billion to the country’s Value Added Tax (VAT) pool in 2024 and received a substantial 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 the highest to the VAT among the Southwestern states and all the states at large.
Official figures revealed that VAT revenue in 2024 increased by 85%, rising from N3.64 trillion in 2023 to N6.72 trillion.
Below is a breakdown of VAT contributions and allocations for the Southwestern states in 2024:
1. Lagos
Contributed: N2.75tn
Allocated: N460.11bn
2. Oyo
Contributed: N272.41bn
Allocated: N116.83bn
3. Ogun
Contributed: N26.16bn
4. Ondo
Contributed: N13.80bn
Allocated: N68.57bn
5. Ekiti
Contributed: N29.58bn
Allocated: N63.47bn
6. Osun
Contributed: N14. 79bn
Allocated: N68.62bn
Total Contribution: N3.11tn
Total Allocation Received: N849.7bn
{Tribune online}
