Nigeria’s Company Income Tax (CIT) collections fell to N1.37 trillion in the first quarter of 2026, declining by 8.08 per cent from the N1.49 trillion recorded in the preceding quarter, according to the National Bureau of Statistics (NBS).
The NBS disclosed this in its Company Income Tax (CIT) Q1 2026 Report released in Abuja which also showed a significant year-on-year decline in tax collections.
According to the report, domestic company income tax contributed N538.91 billion to the total revenue generated during the quarter, while foreign company income tax accounted for N828.82 billion.
The report revealed that despite the overall decline in collections, some sectors recorded substantial growth on a quarter-on-quarter basis.
The water supply, sewage, waste management and remediation sector posted the highest growth rate of 485.71 per cent, making it the fastest-growing sector during the period.
Activities of households as employers and undifferentiated goods and services-producing activities of households for own use followed with a growth rate of 197.04 per cent.
On the other hand, agriculture, forestry and fishing recorded one of the weakest performances, while the construction sector declined by 63.15 per cent.
An analysis of sectoral contributions showed that financial and insurance activities remained the largest source of company income tax revenue, accounting for 24.73 per cent of total collections in the first quarter.
Mining and quarrying emerged as the second-largest contributor, representing 16.06 per cent of the total tax revenue generated during the period.
At the lower end of the ranking, activities of households as employers and undifferentiated goods and services-producing activities of households for own use contributed just 0.01 per cent.
They were followed by activities of extraterritorial organisations and bodies, which accounted for 0.13 per cent, while water supply, sewage, waste management and remediation activities contributed 0.38 per cent.
The NBS further reported that company income tax revenue recorded a sharp year-on-year decline of 31.05 per cent when compared with the corresponding period of 2025.
The latest figures highlight the mixed performance of corporate tax collections, with strong contributions from the financial and mining sectors offset by weaker performances in other areas of the economy.
