Company Income Tax collections rise to N2.96 trillion in Q3 2025 – NBS

2026-03-07 13:47:10

Nigeria’s Company Income Tax (CIT) revenue rose to N2.96 trillion in the third quarter of 2025, representing a 6.55 per cent increase from N2.78 trillion recorded in Q2 2025.

This is according to the latest report by the National Bureau of Statistics.

The data highlights sustained growth in corporate tax revenue, supported by improving business activity across key sectors of the economy.

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What the data is saying

CIT performance in Q3 2025 was underpinned by contributions from both domestic and foreign sources.

Domestic CIT payments accounted for N1.21 trillion of the total collections.
Foreign CIT payments contributed a larger share of N1.75 trillion, reflecting continued profitability among multinational companies and cross-border operations.

Overall, the 6.55 per cent quarter-on-quarter increase underscores steady growth in corporate earnings and tax compliance.

More Insights

Sectoral analysis shows uneven growth across industries.

Arts, entertainment, and recreation activities recorded the highest quarter-on-quarter growth at 41.98 per cent, followed by Accommodation and food services at 37.11 per cent.
Mining and quarrying also grew by 15.36 per cent, demonstrating resilience in extractive industries.

Conversely, Activities of households as employers contracted by –83.88 per cent, Financial and insurance activities declined by –79.72 per cent, and the Construction sector fell by –66.52 per cent.

In terms of overall contribution to CIT collections:

Manufacturing led with 22.43 per cent, underscoring its central role in Nigeria’s industrial base.
Mining and quarrying followed with 20.24 per cent, while Financial and insurance activities accounted for 17.11 per cent.

The lowest contributions came from Activities of households as employers (0.003 per cent), Water supply and waste management (0.04 per cent), and Activities of extraterritorial organisations (0.07 per cent).

On a year-on-year basis, CIT collections surged 67.19 per cent compared to Q3 2024, reflecting stronger corporate earnings, enhanced tax administration, and policy reforms aimed at broadening the tax base.

What you should know

Nairametrics previously reported that CIT revenue rose in the second quarter of 2025, hitting N2.78 trillion.

The figure represents a significant 40.27% increase compared to the N1.98 trillion recorded in the first quarter of the year.
Also, CIT collection in the second quarter of 2024 rose by 150.83% to N2.47 trillion.
NBS equally reported that Value Added Tax (VAT) collections increased to N2.28 trillion in the third quarter of 2025.

According to the report, the N2.28 trillion recorded in Q3 represents a 10.66% quarter-on-quarter increase from the N2.06 trillion posted in the second quarter of 2025.

Nairametrics also previously reported that VAT allocations to the Federal Government, states, and Local Government Areas rose to N7.73 trillion in 2025, up from N6.11 trillion in 2024, representing a 26.46 percent year-on-year increase.

Across the three tiers, VAT receipts grew by 26.46%, with the Federal Government receiving N1.16 trillion, States N3.77 trillion, and LGAs N0.71 trillion.

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