Kenya doubled its tax revenue in less than a decade

Kenya's Revenue Authority has doubled its revenue, growing from KSh 1.1 trillion in the 2014/15 financial year to KSh 2.2 trillion in 2022/23.

The most significant annual growth occurred in 2021/22, with a 21.7% increase. Over nine years, tax revenue grew by an average of 9.4%, demonstrating consistent progress in Kenya's fiscal management.

Source:

Kenya Revenue Authority

Period:

2014 - 2023
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Finance & Insurance now makes up 30% of Nigeria’s domestic company income tax, up from 12% in 2022
  • Company income tax collections rose from ₦1.7tn in 2022 to ₦5.0tn in 2025.
  • Finance & Insurance more than doubled its share, from 12.4% to 30.0%.
  • Finance became the largest single sector in the tax mix by 2025.
  • Manufacturing remained important, but its share fell from 27.9% to 17.7%.
  • ICT saw one of the sharpest declines, from 21.6% to 6.5%.
  • Mining & quarrying gained weight, rising from 8.4% to 14.5%.
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Nigeria's VAT collections have more than tripled in three years
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  • VAT collections more than tripled in four years.
  • Local VAT remained the largest source of VAT throughout the period.
  • Local VAT increased from ₦1.5tn to ₦4.5tn.
  • Local VAT averaged 54.4% of total VAT between 2022 and 2025.
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  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.
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Local companies have consistently contributed most of Nigeria’s Company Income Tax payments since 2016
  • Local companies dominated CIT contributions in most years, accounting for over 50% of payments in 9 of 11 periods between 2015 and 2025 (Q1–Q3).
  • Foreign companies briefly closed the gap in 2023, contributing 49%, the closest they have come to matching local firms.p
  • Local companies recorded their strongest share in 2021 at 65%, marking the widest gap between local and foreign contributors.
  • “Other payments” peaked during the pandemic, rising to 17% in 2020 before dropping to 0% from 2022 onward.
97% of businesses in Kogi are aware of Nigeria's 2025 tax reform, while 99% in Abia are not
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