At a statutory rate of 30 percent, Nigeria's Company Income Tax (CIT) hovers significantly above the global average combined statutory corporate tax rate, which currently sits at around 23.5 percent. According to the Nigeria Tax Act, 2025, Companies Income Tax (CIT), also known as corporate tax, is a tax levied on a company’s income. The tax is charged at 30 percent of a company’s profit. For a country aggressively seeking Foreign Direct Investment (FDI) to stimulate growth, this headline figure presents a critical, two-pronged question:
At a statutory rate of 30 percent, Nigeria's Company Income Tax (CIT) hovers significantly above the global average combined statutory corporate tax rate, which currently sits at around 23.5 percent. According to the Nigeria Tax Act, 2025, Companies Income Tax (CIT), also known as corporate tax, is a tax levied on a company’s income. The tax is charged at 30 percent of a company’s profit. For a country aggressively seeking Foreign Direct Investment (FDI) to stimulate growth, this headline figure presents a critical, two-pronged question: