Nigeria's Q1 2026 Company Income Tax falls to N1.37 trillion, foreign firms contribute over 60%

The National Bureau of Statistics released its Q1 2026 Company Income Tax (CIT) report for Nigeria, showing total CIT collections of N1.37 trillion. This represents an 8.08 % decline from the previous quarter (N1.49 trillion) and a 31.05 % drop year‑on‑year from Q1 2025.

Domestic CIT amounted to N538.91 billion, while foreign‑registered firms paid N828.82 billion, accounting for more than 60 % of total revenue. Sectoral contributions were led by financial and insurance activities (24.73 % of total) and mining and quarrying (16.06 %). Water supply, sewage, waste management and remediation recorded the highest quarterly growth at 485.71 %, whereas agriculture, forestry and fishing showed the lowest growth at 73.52 %.

The report also noted that household‑employer activities and undifferentiated goods/services for own use grew strongly, while construction experienced a 63.15 % decline.