FG Generates N532.48 billion from Company Income Tax

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The Federal Inland Revenue Service, FIRS, has revealed that on behalf of the federal government of Nigeria generated a sum of N532.48 billion from Company Income Tax (CIT) in the first quarter of 2022.

According to the National Bureau of Statistics, this represents an increase of 35.6% compared to Q1 2021.

On a quarter-on-quarter comparison, company income tax revenue increased by 53.1% compared to N347.81 billion recorded in Q4 2021.

Written by: Helen Obih

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