That amount marks a 38% increase compared with the roughly ₦3.45 trillion collected in H1 2024.
The surge was driven almost entirely by domestic companies their CIT payments jumped significantly even as contributions from foreign firms fell.
In quarter-by-quarter terms, CIT climbed from ₦1.98 trillion in Q1 2025 to ₦2.78 trillion in Q2. That’s a 40% increase in just one quarter.
The financial and insurance sector was the biggest contributor in Q2, remitting ₦1.02 trillion about 44% of all domestic CIT in that quarter. NBS attributed this to banking recapitalization, improved FX positions, and higher interest income.
Other major contributors included manufacturing (₦360.20 billion) and mining & quarrying (₦212.27 billion), with respective year-on-year increases of 62% and 24%.
The strong performance by domestic firms suggests improved economic activity and perhaps better tax compliance among local businesses.
A rising reliance on domestic corporate taxes rather than taxes from foreign companies may indicate a shift in the structural composition of Nigeria’s economy and revenue base.
The dominance of the financial sector in CIT contributions shows how much banking and finance are driving government revenue, potentially making the economy more sensitive to financial-sector performance.
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