Federal finance and statistics / National Bureau of Statistics

Company Income Tax Q1 2024

Executive Summary On the aggregate, Company Income Tax (CIT) for Q1 2024 was reported at N984.61 billion, indicating a growth rate of -12.87% on a quarter-on-quarter basis from N1.13 trillion in Q4 2023. Local payments received were N386.49 billion, while Foreign CIT Payment contributed N598.13 billion in Q1 2024. On a quarter-on-quarter basis, Activities of households as em ployers, undifferentiated goods- and services-producing activities of households for own use recorded the highest growth rate with 330.42%, followed by Administrative and support service activities with 33.18%. On the othe…