Abia Ranked 35th in VAT Revenue Generation for August 2024 | #NwokeukwuMascot

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Abia State has been ranked 35th in Value Added Tax (VAT) revenue generation among Nigeria’s 36 states and the Federal Capital Territory (FCT), according to the Federal Inland Revenue Service (FIRS) figures for August 2024. The state recorded a total VAT collection of N663.42 million, positioning it near the bottom of the list.




Lagos State retained its lead as the highest VAT-generating state, contributing a staggering N249.77 billion. Rivers State followed with N70.54 billion, while Oyo, the FCT, and Delta State rounded out the top five with N20.11 billion, N18.17 billion, and N13.09 billion, respectively.



 


Abia’s performance is notably lower compared to its neighboring states. Anambra generated N4.28 billion, ranking 9th, while Ebonyi collected N1.90 billion, securing the 20th position.



At the bottom of the table, Imo State recorded the lowest VAT revenue of N235.41 million, followed by Zamfara with N432.80 million.



 


Below is a breakdown of VAT revenue across the 36 states and the FCT in August 2024:

1. Lagos: N249.77 billion

2. Rivers: N70.54 billion

3. Oyo: N20.11 billion

4. FCT: N18.17 billion

5. Delta: N13.09 billion

6. Bayelsa: N7.12 billion

7. Kano: N4.65 billion

8. Akwa Ibom: N4.49 billion

9. Anambra: N4.28 billion

10. Edo: N4.05 billion

11. Ekiti: N3.66 billion

12. Borno: N3 billion

13. Kwara: N2.89 billion

14. Adamawa: N2.59 billion

15. Plateau: N2.58 billion

16. Benue: N2.56 billion

17. Gombe: N2.55 billion

18. Kogi: N2.43 billion

19. Kaduna: N2.03 billion

20. Ebonyi: N1.90 billion

21. Taraba: N1.88 billion

22. Sokoto: N1.84 billion

23. Osun: N1.81 billion

24. Ogun: N1.74 billion

25. Niger: N1.73 billion

26. Yobe: N1.71 billion

27. Katsina: N1.68 billion

28. Jigawa: N1.59 billion

29. Nasarawa: N1.47 billion

30. Ondo: N1.45 billion

31. Enugu: N1.08 billion

32. Cross River: N1.08 billion

33. Bauchi: N691.28 million

34. Kebbi: N665.17 million

35. Abia: N663.42 million

36. Zamfara: N432.80 million

37. Imo: N235.41 million



The VAT revenue figures highlight the need for Abia to strengthen its economic base and improve revenue-generation mechanisms. Experts suggest that enhancing local industries, supporting small businesses, and creating a conducive environment for investors could help boost the state’s fiscal performance.



Abia’s ranking underscores the disparity in economic activities and productivity among Nigerian states, further emphasizing the importance of policy reforms to drive sustainable development.

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