The National Bureau of Statistics (NBS) has reported that Company Income Tax (CIT) collections declined by 31 per cent in 2026, marking a significant downturn in corporate tax revenue for the year.
The figure, published by the NBS, reflects a notable contraction compared to the preceding period, though detailed breakdowns by sector and taxpayer category were not immediately available at the time of this report.
Company Income Tax is a key component of Nigeria's non-oil revenue base, levied on the profits of incorporated entities operating in the country. A decline of this magnitude is likely to draw the attention of fiscal authorities and policymakers, given ongoing efforts to expand the tax net and improve collections.
The Federal Inland Revenue Service (FIRS) has in recent years intensified enforcement and introduced technology-driven compliance measures aimed at boosting CIT receipts. The reported fall may prompt a review of current strategies.
Further details are expected from the NBS in its full quarterly report.
