According the the National Bureau of Statistics (NBS), Federal Government generated N392.77 billion as Company Income Tax (CIT) in Q1 2021, released on Wednesday 13th May. Breweries, beverages and bottling companies generated the highest amount of CIT with N23.26 billion, closely followed by professional services including telecoms which generated N18.17billion.
It said state ministries and parastatals generated N17.35 billion while textile and garment industry generated the least and closely followed by mining and automobiles and assemblies with N13.49 million, N34.40 million and N73.57 million generated respectively
