Nigeria's Company Income Tax Surges 40% to N2.78 Trillion in Q2 2025

Nigeria's Company Income Tax revenue surged by 40.27% to N2.78 trillion in the second quarter of 2025, as reported by the National Bureau of Statistics (NBS). The increase from N1.98 trillion in the first quarter reflects enhanced tax compliance and better corporate performance.

Domestic CIT payments contributed N2.31 trillion, while foreign CIT collections stood at N469.36 billion. The financial and insurance sector saw the highest growth at 772.29%, led by banks, fintech, and insurance firms.

However, sectors like education, public administration, and defense experienced declines, highlighting ongoing fiscal challenges.