Nigeria’s Company Income Tax Top 10 Contributing Sectors

Company Income Tax (CIT) was reported at N2.47 trillion for the second quarter of 2024, a 150.83 per cent quarter-over-quarter increase from N984.61 billion in the first quarter of 2024. Additionally, an increase was seen when compared to the N1.53 trillion same time in the previous year.

Here are the 10 sectors that contributed the most to the country’s CIT payments.
1. Financial and Insurance activities N383,574,29
2. Manufacturing N221,970.07
3. Information and Communication N193,654.22
4. Mining and Quarrying N170,729.18
5. Wholesale and Retail Trade N74,277.93.
6. Transportation and Storage N52,478.31
7. Public Administration and Defence, Compulsory Social Security N51,993.20
8. Other Service Activities N40,207,76
9. Construction N32,789.46
10. Professional, Scientific, and Technical Activities N30,122.72