Nigeria’s Company Income Tax (CIT) revenue climbed to N2.78 trillion in the second quarter of 2025, representing a strong 40.27% increase from the N1.98 trillion recorded in the first quarter, the National Bureau of Statistics (NBS) has reported.
The rise, according to the NBS, reflects improved tax compliance and stronger corporate performance across key sectors.
Domestic CIT payments contributed N2.31 trillion of the total, while foreign collections accounted for N469.36 billion.
The financial and insurance sector posted the highest quarter-on-quarter increase at an extraordinary 772.29%, buoyed by robust half-year earnings among banks, fintechs, and insurance firms.
This was followed by wholesale and retail trade, including motor vehicle repairs, which rose by 538.38%.
Activities of households as employers also grew by 526.79%, though their overall share of tax revenue remained marginal.
Conversely, some sectors recorded notable declines.
CIT from extraterritorial organisations fell by –45.01%, while education, and public administration, defence and compulsory social security dropped by –26.61% and –18.17% respectively—underscoring persistent structural and funding challenges in government-supported institutions.
The financial and insurance sector contributed the largest share to total CIT revenue at 44.13%, highlighting its continued expansion and strong capital flows.
Manufacturing followed with 15.57%, supported by rising production output and improved supply-chain activity.
