The National Bureau of Statistics (NBS) has disclosed that Company Income Tax (CIT) receipts declined by 31 per cent in 2026, according to its latest tax revenue report.
The sharp fall represents a notable contraction in corporate tax collections, which are a key component of federally collected revenue in Nigeria. Company Income Tax is levied on the profits of companies operating in the country and remains one of the major non-oil revenue streams for the Federal Government.
The NBS periodically releases data on CIT and Value Added Tax collections, providing insight into the health of the corporate sector and the broader fiscal landscape. A decline of this magnitude may raise questions about corporate profitability, compliance levels, and the overall economic environment during the review period.
Further details were not immediately available at the time of this report.
