Revenue from company income tax (CIT) stood at N1.49 trillion in quarter four (Q4) of 2025, representing a decrease of 49.81 per cent compared with N2.96 trillion recorded in Q3.

Value-added tax (VAT) also experienced a downward trend in the period, dropping from N2.28 trillion in Q3 of 2025 to N2.19 trillion, a drop of 3.78 per cent on a quarter-on-quarter basis.

However, on a year-on-year basis, CIT collections in Q4 2025 increased by 13.38 per cent, while VAT collections also increased by 12.84 per cent compared with Q4.

The data are contained in the Q4 CIT and VAT reports released yesterday by the National Bureau of Statistics (NBS).

The report showed the impact of the heightened economic hardship facing the country, which has drained the citizens of purchasing power.

According to the report, domestic CIT received was N819.83 billion, while foreign CIT payment stood at N668.21 billion.

On a quarter-on-quarter basis, activities of extraterritorial organisations and bodies recorded the highest growth rate at 75.15 per cent, followed by education and real estate at 54.2 per cent and 27.25 per cent, respectively.

On the other hand, accommodation and food service activities recorded the least growth rate at –67.11 per cent. It was followed by activities of households as employers, undifferentiated goods and services-producing activities of households for own use, which dropped by –63.49 per cent. Mining and quarrying dropped by -49.63 per cent.

In terms of sectoral shares, three activities with the largest shares were financial and insurance activities at 18.74 per cent; manufacturing, 17.3 per cent and mining and quarrying at 15.04 per cent.

Conversely, activities of households as employers, undifferentiated goods and services-producing activities of households for own use recorded the least share at 0.002 per cent.

It was followed by water supply, sewerage, waste management and remediation activities at 0.04 per cent and activities of extraterritorial organisations and bodies at 0.17 per cent.

The NBS said local VAT payments stood at N1.16 trillion while foreign VAT payments were N503.13 billion. Import VAT contribution was N535.73 billion.