Nigeria's Company Income Tax dropped by 28.20 per cent to N1.77 trillion in the third quarter of 2024 from N2.47 trillion collected in Q2 the same year. The National Bureau of Statistics disclosed this in its latest CIT data released on Friday. According to the data, local payments received were N920.91 billion, while Foreign CIT Payment contributed N852.29 billion in Q3 2024.
32 per cent, followed by financial and insurance activities with –70.04 per cent. In terms of sectoral contributions, the top three largest shares in Q3 2024 were manufacturing with 25.47 per cent, followed by mining and quarrying with 18.37 per cent and information and communication with 15.07 per cent. Nevertheless, the activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.
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Nigeria's President Bails Finance Minister Amidst Global Anti-Corruption Drive in 2024Nigerian President Ola Olukoyede has released the Finance Minister, Mista Ibrahim Shazali, on bail ahead of a trial related to corruption and fraud. This decision was announced in a press conference following a meeting with the Economic and Financial Crimes Commission (EFCC) in Kano. The president cited the need for the minister's participation in the global anti-corruption drive as a reason for the bail.
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