Nigeria: Harsh Environment – Tax Revenue From Manufacturers Plunges By 70%
- June 17, 2024
- Environment & Climate
- 0 Comments
[Vanguard] In apparent reflection of the harsh operating environment for the manufacturing sector in Nigeria over the past year, accentuated by fuel subsidy removal, naira devaluation and increase in electricity tariff, tax revenue from manufacturers dropped drastically by 70.24 percent, quarter-on-quarter (QoQ), to N43.2 billion in the first quarter of 2024 (Q1’24) from N145.1 billion recorded in the previous quarter (Q4’23).
AllAfrica News: Environment
