Summary
If you make ₦5,880,000 a year living in Nigeria, you will be taxed ₦1,672,424. That means that your net pay will be ₦4,207,576 per year, or ₦350,631 per month. Your average tax rate is 28.4% and your marginal tax rate is 32.0%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of ₦100 in your salary will be taxed ₦31.98, hence, your net pay will only increase by ₦68.02.
Bonus Example
A ₦1,000 bonus will generate an extra ₦680 of net incomes. A ₦5,000 bonus will generate an extra ₦3,401 of net incomes.