Manufacturers Pay N74.48bn Tax in Q1 2026 Amid Reforms

In the first quarter of 2026, manufacturers in Nigeria paid N74.48bn in Company Income Tax, which constituted 13.82% of the total local Company Income Tax of N538.91bn collected during this period, according to the National Bureau of Statistics. This amount reflects a significant decline of 30.98% from N107.90bn paid in Q1 2025.

The decrease is attributed to the introduction of four new tax laws that commenced on January 1, 2026, which aim to simplify the tax framework for businesses. The Federal Government and the Manufacturers Association of Nigeria are working together to ensure that manufacturers can fulfill their tax obligations without facing excessive assessments and administrative costs.

Olusegun Adesokan, Executive Secretary of the Joint Revenue Board, stated that the new tax framework repositions manufacturers as protected taxpayers rather than targets for endless assessments. The reforms consolidate over 100 taxes into nine revenue heads and prohibit cash payments for taxes, aiming to enhance compliance and reduce burdens on manufacturers.