In the second quarter of 2024, the Company Income Tax (CIT) was recorded at N2.47 trillion, reflecting a substantial growth rate of 150.83% compared to the previous quarter when it stood at N984.61 billion in Q1 2024.
In the second quarter of 2024, local payments amounted to N1.35 trillion, whereas foreign CIT payments accounted for N1.12 trillion.
In terms of quarter-on-quarter growth, the agriculture, forestry, and fishing sectors achieved the most significant increase at an impressive rate of 474.50%. This was closely followed by the financial and insurance sectors, which grew by 429.76%, and manufacturing, which saw a rise of 414.15%.
Source: NBS
