Nigeria
Sources and data for Nigeria
Every value the calculators use, with its effective dates and a link to the official source.
Personal income tax bands (Fourth Schedule)
- Current value
Table with 6 brackets
₦0 / ₦800,000 0% ₦800,000 / ₦3,000,000 15% ₦3,000,000 / ₦12,000,000 18% ₦12,000,000 / ₦25,000,000 21% ₦25,000,000 / ₦50,000,000 23% ₦50,000,000 + 25% - From
- 1 January 2026
- Checked on
- 16 October 2026
Rent relief: share of annual rent
- Current value
- 20%
- From
- 1 January 2026
- Checked on
- 16 October 2026
Rent relief: maximum a year
- Current value
- ₦500,000
- From
- 1 January 2026
- Checked on
- 16 October 2026
VAT rate
- Current value
- 7.5%
- From
- 1 January 2026
- Checked on
- 16 October 2026
Companies income tax rate (other than small companies)
- Current value
- 30%
- From
- 1 January 2026
- Checked on
- 16 October 2026
Small company: maximum gross turnover a year
- Current value
- ₦100,000,000
- From
- 1 January 2026
- Checked on
- 16 October 2026
Small company: maximum total fixed assets
- Current value
- ₦250,000,000
- From
- 1 January 2026
- Checked on
- 16 October 2026
Development levy on assessable profits
- Current value
- 4%
- From
- 1 January 2026
- Checked on
- 16 October 2026
Stamp duty on an electronic transfer or receipt
- Current value
- ₦50
- From
- 1 January 2026
- Source
- National Assembly (Official Gazette No. 117)Nigeria Tax Act, 2025, Ninth Schedule, items 47 and 48
- Checked on
- 16 October 2026
Electronic transfers from this amount pay stamp duty
- Current value
- ₦10,000
- From
- 1 January 2026
- Checked on
- 16 October 2026
Pension contribution by the employee
- Current value
- 8%
- From
- 1 July 2014
- Checked on
- 16 October 2026
Pension contribution by the employer
- Current value
- 10%
- From
- 1 July 2014
- Checked on
- 16 October 2026
National Housing Fund contribution
- Current value
- 2.5%
- From
- 1 January 2004
- Checked on
- 16 October 2026
Employees' Compensation Scheme contribution by the employer
- Current value
- 1%
- From
- 16 October 2026
- Checked on
- 16 October 2026
Compensation for loss of office or employment not taxed
- Current value
- ₦50,000,000
- From
- 1 January 2026
- Checked on
- 16 October 2026
National minimum wage a month
- Current value
- ₦70,000
- From
- 4 August 2024
- Checked on
- 16 October 2026
Values that update automatically
NFEM rate, naira per US dollar (volume weighted average)
- Current value
- ₦1,355.8815
- Latest figure
- 12 November 2026