Nigeria’s financial sector played a pivotal role in national revenue generation during the third quarter of 2024, contributing N570.91 billion in corporate income tax (CIT), a significant 21.5% share of the total N2.66 trillion collected during the period.
This insight is drawn from the recently released State of Enterprise (SOE) Report 2025, which provides a comprehensive review of economic indicators across key sectors.
According to the report, the financial sector’s performance, comprising banking, insurance, and other financial institutions, reflected strong earnings resilience in the face of economic headwinds, including double-digit inflation and sustained naira devaluation.
