28 NGX Firms Paid N2.5 Trillion Tax in 2025

In the financial year ending December 31, 2025, 28 companies listed on the Nigerian Exchange (NGX) paid an estimated N2.5 trillion in taxes, marking a 171% increase from N924.2 billion in 2024. This increase occurred despite the road infrastructure tax credit scheme.

The companies span various sectors, including banking, cement, manufacturing, fast-moving consumer goods (FMCG), power, oil and gas, telecommunications, and insurance. MTN Nigeria Communications PLC reported the highest tax expense of N583.18 billion, a 289.07% increase from N149.89 billion in 2024.

Dangote Cement PLC followed with N517.7 billion, and Seplat Energy PLC with N513.93 billion. The total corporate income tax revenue in Nigeria rose to N2.96 trillion in Q3 2025, reflecting a 6.55% increase from Q2 2025.

The contributions from these firms underscore their role in the economy and compliance with tax regulations, with MTN's CEO Karl Toriola highlighting the company's commitment to infrastructure development through tax credits.