Nigeria’s Company Income Tax Declines in Q1 2026 – NBS
The National Bureau of Statistics (NBS) reports that Nigeria’s total Company Income Tax (CIT) for the first quarter of 2026 stands at 1.37 trillion naira.
This figure, released in a report on Saturday in Abuja, represents an 8.08 per cent decline from the 1.49 trillion naira recorded in the fourth quarter of 2025.
According to the report, domestic CIT contributions amounted to 538.91 billion naira, while foreign CIT payments totalled 828.82 billion naira for Q1 2026.
The report highlights that, on a quarter-on-quarter basis, the water supply, sewage, waste management, and remediation sectors experienced the highest growth rate at an impressive 485.71 percent.
This was followed by households’ activities as employers and undifferentiated goods and services produced for personal use, which grew by 197.04 percent.
Conversely, the agriculture, forestry, and fishing sectors recorded the lowest growth rate at 73.52 percent, while construction saw a significant decline of 63.15 percent.
In terms of sector contributions, the report identified financial and insurance activities as the highest contributors, accounting for 24.73 percent, followed by mining and quarrying at 16.06 percent.
On the other end of the spectrum, activities involving households as employers and undifferentiated goods and services for personal use contributed only 0.01 percent, with extraterritorial organizations and bodies at 0.13 percent, and water supply, sewage, waste management, and remediation activities at 0.38 percent.
Additionally, the report notes that, on a year-on-year basis, CIT collections in Q1 2026 decreased by 31.05 percent compared to Q1 2025. Tax Ombud Seeks End to Multiple Taxation
