Company Income Tax Revenue rises 37% to N4.76trn in H1 2025

By Elizabeth Adegbesan

Revenue from Company Income Tax (CIT) grew by 37.9 percent year-on-year (YoY), reaching N4.76 trillion in the first half of 2025 (H1’25), up from N3.45 trillion in H1’24, according to the National Bureau of Statistics (NBS).

The NBS report, which covers the first and second quarters of 2025, showed that CIT for Q2 2025 stood at N2.78 trillion, marking a 40.27 percent increase from N1.98 trillion in Q1 2025. Domestic CIT collections amounted to N2.31 trillion, while foreign CIT payments contributed N469.36 billion in Q2.

On a quarter-on-quarter basis, financial and insurance activities recorded the highest growth at 772.29 percent, followed by wholesale and retail trade, repair of motor vehicles and motorcycles at 538.38 percent, and household activities as employers at 526.79 percent. Conversely, activities of extraterritorial organizations and bodies grew the least at 45.01 percent, followed by education at 26.61 percent and public administration and defense at 18.17 percent.

In terms of sectoral contributions in Q2 2025, financial and insurance activities led with 44.13 percent, manufacturing contributed 15.57 percent, and mining and quarrying accounted for 9.18 percent. Household activities as employers contributed the least at 0.01 percent, while extraterritorial organizations and water supply, sewerage, and waste management each accounted for 0.04 percent.

On a year-on-year basis, CIT collections in Q2 2025 rose by 12.66 percent compared to Q2 2024, reflecting continued growth and strengthening of Nigeria’s revenue base.

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