Nigeria generated N4.76 trillion in company income tax (CIT) in the first half of 2025, a 38% increase from the N3.45 trillion collected in the same period last year, according to new figures from the National Bureau of Statistics (NBS).
The growth was propelled almost entirely by domestic companies, whose tax payments rose sharply despite weaker contributions from foreign firms.
CIT collections climbed from N1.98 trillion in Q1 to N2.78 trillion in Q2, representing a quarter-on-quarter increase of 40%. Year-on-year, the Q2 total was up 13% from the N2.47 trillion posted in Q2 2024.