Nigeria’s Company Income Tax collections climbed to N2.96 trillion in the third quarter of 2025, marking a 6.55 per cent rise from the N2.78 trillion posted in the second quarter.

The figures were contained in the latest report released by the National Bureau of Statistics.

The report points to continued expansion in corporate tax receipts, driven by stronger business performance across major sectors of the economy.

CIT performance in Q3 2025 was boosted by contributions from both domestic and foreign sources.

Domestic CIT payments made up N1.21 trillion of total collections, while foreign CIT payments contributed a higher N1.75 trillion, reflecting sustained profitability among multinational companies and active cross-border operations.

The 6.55 per cent quarter-on-quarter increase reflects consistent growth in corporate profits and stronger tax compliance.

Sectoral analysis reveals uneven growth across industries.

Arts, entertainment, and recreation led with the highest quarter-on-quarter growth of 41.98 per cent, followed by accommodation and food services at 37.11 per cent. Mining and quarrying also showed resilience, expanding by 15.36 per cent.

In contrast, some sectors experienced significant contractions: activities of households as employers fell by 83.88 per cent, financial and insurance activities dropped by 79.72 per cent, and the construction sector declined by 66.52 per cent.

Conversely, activities of households as employers contracted by 83.88 per cent, financial and insurance activities fell by 79.72 per cent, and the construction sector declined by 66.52 per cent.

Looking at overall contributions to CIT collections, manufacturing led with 22.43 per cent, highlighting its key role in Nigeria’s industrial base.

Mining and quarrying contributed 20.24 per cent, while financial and insurance activities accounted for 17.11 per cent.

The lowest contributions came from activities of households as employers (0.003 per cent), water supply and waste management (0.04 per cent), and activities of extraterritorial organisations (0.07 per cent).

Recall the National Bureau of Statistics reported that Value Added Tax collections rose to N2.28 trillion in Q3 2025.