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,
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Eniola Olatunji
Eniola Olatunji is an experienced journalist at BusinessDay, where she has specialized in reporting on personal and business finance since March 2022.
She focuses on creating engaging and precise news stories, with a keen emphasis on the fixed-income market, banking, personal finance, cost of living, and the Nigerian economy. Her work also encompasses extensive market research and economic trend analysis.
Eniola is passionate about empowering individuals to make informed financial decisions and is dedicated to shedding light on the intricate workings of the economy. She holds a Bachelor of Science degree in Pure & Applied Chemistry from the University of Lagos.
Eniola Olatunji was shortlisted for The Future Awards Africa Prize for Journalism..
