The National Bureau of Statistics (NBS) said the aggregate Value Added Tax (VAT) stood at N697.38 billion in Q4 2022.
Mr Malami said proceeds of the fight against corruption had been ploughed into the nation’s economy to impact the livelihood of Nigerians.
The federal government received N293.955 billion, the states received N239.512 billion, and the LGCs got N177.086 billion.
Local payments recorded were N359.12 billion, while foreign VAT payments contributed N111.13 billion during the period under review.
However, the balance in the Excess Crude Account (ECA), as at August 24 stands at 470,599.54 million dollars.
Turkey lowered VAT on basic food products from eight to one per cent as a response to an annual inflation surge of 48.7 per cent.
The 2022 budget estimate was 9.9 per cent higher than the 2021 budget at N169.8 billion.
Compared to the corresponding figures of 2020, there was a higher revenue in the first three quarters of 2021, revealing an improvement in collections.
Buhari’s regime is considering suing the governments of Rivers and Lagos at the Supreme Court to end the VAT war “once and for all.”
“We should go ahead with VAT as part of the resources available to us,” Mr Lawan said in his remarks to the MTEF debate.
