Local companies have consistently contributed most of Nigeria’s Company Income Tax payments since 2016

Key Takeaways

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.

Nigerian-incorporated and locally owned businesses have consistently accounted for the largest share of Nigeria’s Company Income Tax (CIT) payments over the past decade. Their contribution exceeded 50% in most years, peaking at 65% in 2021, highlighting the strong role domestic firms play in sustaining CIT revenue.

The contribution from multinational or foreign-owned businesses operating within Nigeria has remained significant but generally lower than that of local firms. The gap narrowed most in 2023, when foreign firms contributed 49%, nearly matching the 51% share from local companies. As of 2025 (Q1–Q3), local firms accounted for 54% of payments, while foreign firms contributed 46%, indicating a continued but relatively close distribution between both groups.

Source:

National Bureau of Statistics

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Period:

2015 - 2025, Q3

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