Nigeria's MDAs Remit N7.04 Billion VAT to FIRS in Q4 2024, Report Says

In Q4 2024, Nigerian Ministries, Departments, and Agencies remitted N7.04 billion in Value Added Tax to the Federal Inland Revenue Service.

In a recent report, it has been confirmed that Ministries, Departments, and Agencies (MDAs) in Nigeria remitted a total of N7.04 billion in Value Added Tax (VAT) to the Federal Inland Revenue Service (FIRS) during the fourth quarter of 2024. This significant amount represents a substantial contribution from the MDAs towards their tax obligations. The remittance is a notable achievement, demonstrating the agencies' commitment to meeting their fiscal responsibilities. The FIRS will now have access to this substantial sum, which it can utilize for its administrative and operational needs.