Nigeria's Company Income Tax (CIT) revenue fell by 31 per cent in 2026, according to figures released by the National Bureau of Statistics (NBS).
The decline marks a significant contraction in one of the federal government's key non-oil revenue streams, though the NBS report did not immediately detail the sectors or taxpayer categories driving the drop.
Company Income Tax is levied on the profits of incorporated entities operating in Nigeria and remains a critical component of the Federation Account.
The reported decline may reflect broader economic pressures on corporate profitability, including foreign exchange volatility, elevated energy costs, and subdued consumer demand that have characterised the operating environment.
Further details from the full NBS report, including quarter-by-quarter breakdowns and sectoral contributions, are expected to provide additional context on the trajectory of CIT collections through the remainder of the fiscal year.
