Fiscal1990Military (Babangida)· Cap. C21

Companies Income Tax Act (Cap. C21)

30% standard CIT rate; tertiary education tax; rules for deductible expenses and capital allowances.

Standard citation

Companies Income Tax Act (Cap. C21) (Cap. C21), Federal Republic of Nigeria.

The political & economic reality at enactment

The political and economic reality

Nigeria in 1990: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period of this Act's commencement.

Military President

Gen. Ibrahim Babangida

1985–1993

National reality

Structural Adjustment Programme from 1986 — devaluation of the naira, deregulation, austerity that has, in real terms, never been recovered. Dele Giwa murdered by parcel bomb (1986). Annulled the 12 June 1993 election.

Crises of the period

SAP 1986
Dele Giwa assassination (1986)
Orkar coup attempt (1990)
Annulment of June 12, 1993

GDP (World Bank)

$30 bn (1985) → $15 bn (1993, post-SAP devaluation)

Cabinet (selected portfolios)

Education
Prof. A. Babs Fafunwa (1990–92)
Finance
Chu Okongwu; Olu Falae; Kalu Idika Kalu

Sources · Federal Military Government Gazette 1985–93 · CBN

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Tier 4 · tertiary, flagged

Wikipedia only where primary is pending. Always labelled.