Nigerian companies on track to declare highest corporate taxes ever in 2025

Nigerian companies are set to declare the highest corporate taxes ever in 2025, according to data from publicly available financial statements reviewed by Nairametrics. The 30 listed companies on the NGX, excluding banks and insurance firms, have accrued over a trillion in corporate taxes in the first six months of the year, surpassing the total for the entire 2024 financial year.

The government expenditure framework indicates that corporate taxes have doubled to 2 trillion in 2025, with projections for 2026 even higher. Manufacturing companies, telcos, and consumer goods companies are expected to contribute significantly to the increased tax payments due to improved profitability.

However, Oando Plc stands out with a reported billion tax credit in H1 2025, reflecting a deferred tax adjustment accounting for prior losses. Despite challenges such as currency devaluation and rising energy costs, corporate profits have reached trillion in the first half of the year, compared to N923 billion in 2024.

While bank and.