Summary
If you make ₦1,320,956 a year living in Nigeria, you will be taxed ₦284,194. That means that your net pay will be ₦1,036,762 per year, or ₦86,397 per month. Your average tax rate is 21.5% and your marginal tax rate is 25.8%. 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 ₦25.78, hence, your net pay will only increase by ₦74.22.
Bonus Example
A ₦1,000 bonus will generate an extra ₦742 of net incomes. A ₦5,000 bonus will generate an extra ₦3,711 of net incomes.