Nigeria’s Corporate Tax Revenue Climbs to N2.96 Trillion in Q3 2025 Amid Surge in Foreign Multinational Contributions

NBS reports a 6.55% rise in Nigeria's Company Income Tax (CIT) for Q3 2025, reaching N2.96 trillion. See which sectors led the growth and foreign tax impacts.

By: AXL Media

Published: Mar 4, 2026, 7:13 AM EST

Source: The information in this article was sourced from Nairametrics

Steady Quarterly Growth in Corporate Revenue Streams

Nigeria’s fiscal landscape saw a notable expansion in the third quarter of 2025, as Company Income Tax (CIT) collections rose to N2.96 trillion. Data released by the National Bureau of Statistics (NBS) indicates a quarter-on-quarter growth of 6.55 percent compared to the N2.78 trillion recorded in Q2. This steady climb suggests a resilient corporate environment, where improved tax compliance and administrative reforms are successfully capturing revenue from a diversifying range of economic activities. On a year-on-year basis, the performance is even more pronounced, with collections surging by 67.19 percent compared to Q3 2024.

The Dominance of Foreign CIT and Multinational Profitability

A critical factor in the Q3 revenue performance was the substantial contribution from international sources. Foreign CIT payments accounted for N1.75 trillion, representing the majority share of the total collections. This reflects the continued profitability of multinational corporations operating within Nigeria and the effectiveness of cross-border tax mechanisms. In contrast, domestic CIT payments contributed N1.21 trillion. The high volume of foreign tax revenue underscores Nigeria's ongoing integration into global markets and the significant role that extractive and large-scale industrial multinationals play in the nation's primary revenue architecture.

Sectoral Divergence: Entertainment Gains vs. Financial Contraction

The latest data reveals a stark contrast in performance across different sectors of the Nigerian economy. The arts, entertainment, and recreation sector emerged as the fastest-growing segment, recording a 41.98 percent quarter-on-quarter increase in tax contributions. Accommodation and food services followed closely with 37.11 percent growth, indicating a robust recovery in consumer-facing and leisure industries. However, the report also highlighted significant volatility in other areas; the financial and insurance sector saw a dramatic 79.72 percent decline in tax contributions, while construction fell by 66.52 percent, reflecting a period of consolidation or slowed capital expenditure in those fields.