Nigerians’ VAT payment to governemnt’s coffers hit N651.77bn in HY1 2020

Value Added Tax

In the first six months of 2020, Nigerians pay a total of N651.77 billion as Value Added Tax (VAT) to  the wallet of the federal government through consumption of goods and services. Latest statistics obtained by BuisnessMetricsNG from the National Bureau of Statistics (NBS) show that the sum of N651.77 billion was generated as Value Added Tax (VAT) for HY1 period. The amount generated during the period represents 8.45 per cent growth from the N600.98 billion generated during the corresponding half of 2019. As the remitted VAT increased in the…

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Lafarge Africa grosses N120.5bn revenue in 6 months

Lafarge Africa grosses N120.5bn revenue in 6 months

Cement manufacturer, Lafarge Africa Plc, has reported positive numbers from its half year (HY1) operations identifying its health, cost and cash initiatives as the major stimulant that helped it to weather Coronavirus storm within the period. In its unaudited financial report for the period, revenue went up from N117.885 billion in HY 2019 to N120.540 billion in the same period of 2020, although, it slowed down by 5.1 per cent in the Q2 at N56.845 billion from N59.869 billion in 2019 Q2. This is attributed to pandemic impact in the…

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