The Nigerian federal government’s Company Income Tax (CIT) revenue collection in the second quarter of 2024 rose by 150.83 percent to N2.47 trillion. The National Bureau of Statistics disclosed this in its CIT collection Data released on Monday. The data showed that in the first three months of the year, CIT collection stood at N984.
The Nigerian federal government’s Company Income Tax revenue collection in the second quarter of 2024 rose by 150.83 percent to N2.47 trillion. The National Bureau of Statistics disclosed this in its CIT collection Data released on Monday. The data showed that in the first three months of the year, CIT collection stood at N984.61 billion. According to the report, local payments in the period under review amounted to N1.35 trillion, while foreign CIT payments contributed N1.12 trillion.
22 percent, followed by extraterritorial organizations and bodies with a decrease of –15.67 percent. Sectoral analysis showed that the top three sectors contributing the largest shares were financial and insurance activities at 15.53 percent, manufacturing at 8.99 percent, and information and communication at 7.84 percent. In contrast, household activities as employers and undifferentiated goods- and services-producing activities for own use had the smallest share at 0.
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