Nigeria's Company Income Tax Hits N2.96 Trillion in Q3 2025

According to the National Bureau of Statistics, Nigeria's Company Income Tax (CIT) collections reached N2.96 trillion in the third quarter of 2025, representing a 6.55% increase from N2.78 trillion recorded in the second quarter of 2025. This growth underscores a sustained improvement in business activities across key sectors of the economy.

The report highlights that the CIT performance in Q3 2025 was bolstered by contributions from both domestic and foreign sources, with a year-on-year increase of 67.19% compared to Q3 2024. However, the analysis indicates uneven growth across industries, with the financial and insurance sector declining by 79.72%, and the construction sector falling by 66.52%.

The lowest contributions came from household employment activities at 0.003% and water supply and waste management at 0.04%. The report also noted that VAT receipts grew by 26.46%, with the federal government receiving N1.16 trillion, states N3.77 trillion, and local governments N0.71 trillion.