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Data from official sources · Made in Argentina

Updates

What changed in the official data for Nigeria, the day it changed

Every new figure that reaches the calculators is logged here: what changed, when it takes effect and where it came from.

Latest change
Source review
Every day
Sources we follow
National Assembly (Official Gazette No. 117), National Pension Commission (PenCom), Federal Mortgage Bank of Nigeria and 3 more

How it stays current

  1. An agency publishes

    A regulation, an index or an exchange rate comes out in the official source.

  2. Checked before use

    Indexes and exchange rates arrive automatically, with range checks. Rules are loaded with the official document in hand.

  3. The calculators update

    The calculators switch to the new figure, and the change is logged here with its source.

Change log

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  1. Automatic

    NFEM rate, naira per US dollar (volume weighted average)₦1,355.8815

    Before: ₦1,358.3385 (11 November 2026)Central Bank of Nigeria

    Used byDollar to naira at the official NFEM rate

  2. Rule

    New income tax bands from 1 January 2026

    The Nigeria Tax Act, 2025 came into force on 1 January 2026. The first ₦800,000 of chargeable income is taxed at 0%, the top rate is 25% above ₦50 million, and rent relief replaces the consolidated relief allowance. Our PAYE and net salary calculators already use the new rules.

    In force from 1 January 2026National Assembly (Official Gazette No. 117)

    Used byPAYE tax calculator 2026Net salary calculator Nigeria 2026

  3. New figure

    Employees' Compensation Scheme contribution by the employer1%

    In force from 16 October 2026Nigeria Social Insurance Trust Fund (NSITF)

    Used byEmployer cost calculator

  4. Review

    We checked 15 figures against the official source

    The values in force were confirmed with Federal Mortgage Bank of Nigeria, National Assembly (Official Gazette No. 117), National Pension Commission (PenCom) and State House, Abuja.

    See the 15 figures
    • Companies income tax rate (other than small companies)30%In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Compensation for loss of office or employment not taxed₦50,000,000In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Development levy on assessable profits4%In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Electronic transfers from this amount pay stamp duty₦10,000In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • National Housing Fund contribution2.5%In force from 1 January 2004 · Federal Mortgage Bank of Nigeria
    • National minimum wage a month₦70,000In force from 4 August 2024 · State House, Abuja
    • Pension contribution by the employee8%In force from 1 July 2014 · National Pension Commission (PenCom)
    • Pension contribution by the employer10%In force from 1 July 2014 · National Pension Commission (PenCom)
    • Personal income tax bands (Fourth Schedule)table with 6 bracketsIn force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Rent relief: maximum a year₦500,000In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Rent relief: share of annual rent20%In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Small company: maximum gross turnover a year₦100,000,000In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Small company: maximum total fixed assets₦250,000,000In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • Stamp duty on an electronic transfer or receipt₦50In force from 1 January 2026 · National Assembly (Official Gazette No. 117)
    • VAT rate7.5%In force from 1 January 2026 · National Assembly (Official Gazette No. 117)