COMPANY INCOME TAX REVENUE FALLS TO N2.87TN, FIRST DECLINE SINCE 2020
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By ‘Balogun Ibrahim
Nigeria’s company income tax (CIT) collections declined by 10.3 per cent to ₦2.87tn in the second quarter of 2026, marking the first year-on-year drop since 2020.
The decline ended five consecutive years of annual growth in Q2 collections, following a record ₦3.21tn generated in the corresponding period of 2025.
Data showed that company income tax revenue rose from ₦477.03bn in Q2 2021 to ₦636.69bn in Q2 2022, before surging to ₦1.28tn in Q2 2023.
Collections further increased to ₦1.48tn in Q2 2024 and peaked at ₦3.21tn in Q2 2025 before dropping to ₦2.87tn in Q2 2026.
The figures represent nominal collections in naira for each year and have not been adjusted for inflation.
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