The federal government generated N472.07 billion as Company Income Tax in the second quarter of this year, theThis is against N392.64 billion generated in Q1 2021 and N402.03 billion generated in Q2 2020, representing a 20.23 per cent increase Quarter-on-Quarter and 17.42 per cent increase Year-on-Year.
The NBS said professional services generated the highest amount of CIT with N130.09 billion and was closely followed by other manufacturing which generated N87.27 billion. It said banks and financial institutions generated N60.01 billion while the textile and garment industry generated the least and closely followed by automobiles and assemblies and pioneering with N27.23 million, N62.15 million and N64.30 million generated respectively.
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