WED MAR 04 2026-theGBJournal| Company Income Tax (CIT) collections surged to N2.96 trillion in the third quarter of 2025, according to fresh data published by the National Bureau of Statistics (NBS) today, underscoring resilient corporate profitability and strengthening non-oil revenue performance.
The outturn is 6.55% higher than Q2 2025 figure of N2.78 trillion. The NBS data shows that domestic CIT received was N1.21 trillion, while Foreign CIT Payment was N1.75 trillion in Q3 2025.
The robust outturn reflects improved tax compliance, sustained business activity across key sectors, and the impact of ongoing fiscal reforms aimed at widening the tax net.
On a quarter-on-quarter basis, Arts, entertainment and recreation activities recorded the highest growth rate with 41.98%; followed by Accommodation and food service activities; and Mining and quarrying with 37.11% and 15.36%, respectively.
On the other hand, Activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least with –83.88%, followed by Financial and insurance activities (–79.72%) and construction (–66.52%).
In terms of sectoral contributions, the top three activities with the highest contributions in Q3 2025 were Manufacturing with 22.43%; Mining and quarrying with 20.24% and Financial and Insurance activities with 17.11%.
Conversely, activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with
0.003%, followed by Water supply, sewerage, waste management and remediation activities with 0.04; and Activities of extraterritorial organisations and bodies with 0.07%.
However, on a year-on-year basis, CIT collections in Q3 2025 increased by 67.19% from Q3 2024.
The strong Q3 showing reinforces the Federal Government’s push to deepen domestic revenue mobilisation amid persistent macroeconomic headwinds.
Analysts say the uptick in CIT receipts signals healthier balance sheets among large corporates, particularly in banking, manufacturing, and telecommunications, which have continued to post solid earnings despite currency volatility and inflationary pressures.
The result also suggests that tax administration efficiency may be yielding measurable gains.
X-@theGBJournal|Facebook-the Government and Business Journal|email:gbj@govbusinessjournal.com|govandbusinessj@gmail.com
