Agriculture, others recorded lowest growth in Q2 2023 —NBS report

AGRICULTURE, forestry and fishing recorded the lowest growth rate, after undifferentiated goods and services-producing activities of households, in the second quarter (Q2) of 2023.

According to a report by the National Bureau of Statistics (NBS), value added tax (VAT) for Q2, 2023 grew marginally by 10.11 percent to N781.35 billion from N709.59 billion recorded in Q1.

Local payments recorded were N512.03 billion, foreign VAT payments, N142.63 billion, while import VAT contributed N126.69 billion during the period.

On a quarter-on-quarter basis, the activities of extraterritorial organisations and bodies recorded the highest growth rate at 212.06 percent, followed by real estate activities at 123.09 percent.

On the other hand, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use had the lowest growth rate with -57.06 percent, followed by agriculture, forestry, and fishing with -32.86 percent.

 

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