The National Bureau of Statistics (NBS) has disclosed that Company Income Tax (CIT) collections in Nigeria declined by 31% in 2026.
This was contained in the latest data release by the statistics office, which tracks revenue performance across various tax categories in the country. Company Income Tax is one of the major sources of non-oil revenue for the federal government and is administered by the Federal Inland Revenue Service (FIRS).
The reported decline raises questions about the performance of the corporate sector and the broader economic conditions affecting business profitability and tax compliance during the period under review.
