The federal government generated N2.1 trillion from company income tax in the first nine months of 2022.
President Muhammadu Buhari had said the country’s poor performance in resource mobilisation was a source of concern, as “tax revenues are approximately 8 percent of our output”.a presidential committee on the national economy, to provide solutions to the country’s economic troubles, especially in the area of getting revenue.
As at Q3 of 2022, the CIT revenue increased to N810.2 billion. This gives a total of N2.1 trillion revenue yield from tax in nine months . The information and communication sector followed with N131.2 billion in income tax paid to the federal government.
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