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Foreign companies contributed almost 50% of Nigeria’s company income tax payments in 2023
Over the years, local companies have contributed more than foreign companies to Nigeria’s total company income tax revenue. In 2023, local CIT payments accounted for 51% of the total, with foreign payments at 49%. Local CIT payments saw the highest share in 2021 (65%), while foreign CIT's highest was in 2015 at 52%.

Nigeria’s finance and insurance sector paid 119.6% more tax to the government in 2023
In 2023, businesses in Nigeria's finance and insurance sector paid ₦458.8 billion as taxes to the government, 119.6% more than in 2022. Those in the manufacturing sector also increased their payments and remain the top tax-paying sector in the country. Here are the top five sectors where businesses paid the most tax in 2023.

Nigeria has collected a total of ₦17.5 trillion tax from companies between 2015 and 2023
Nigeria collected nearly ₦5 trillion income tax from companies in 2023. The amount collected in 2023 is 3.5x the collections in 2015 and 73% more than in 2022. Here are Nigeria's company income tax collections since 2015.

Nigeria's corporate income tax payments hit record high in Q2 2023
Nigeria's government collected ₦2 trillion in corporate income tax in H1 2023, with a spike from ₦469 billion in Q1 to ₦1.53 trillion in Q2. The corporate tax payments for H1 2023 are higher than any full-year collections from 2015 to 2021.

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