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.

Source:

National Bureau of Statistics

Period:

Q1 2015 - Q2 2023
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Egypt leads African remittance recipients in 2024 with $22.7B, while Nigeria trails behind with $19.8B
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  • Egypt ($22.7B) and Nigeria ($19.8B) dominated inflows, accounting for nearly half of the continent’s total.
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  • Lagos State generated ₦1.26 trillion in 2024, maintaining its position as the top revenue-generating state.
  • For five consecutive years, Yobe and Taraba have consistently ranked among the bottom five states in revenue generation.
  • FCT IGR records began in 2018.
  • Enugu State recorded a remarkable 433.03% year-on-year increase in 2024.
  • Ebonyi (–57.27%), Ondo (–24.70%), and Yobe (–0.99%) were the only states that experienced a decline in IGR in 2024.
Borno records lowest domestic debt in North-East Nigeria at ₦22.3 billion in Q2 2025
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In just six months, Nigeria spent over $2.3 billion servicing external debts
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