Summary
If you make ₦1,346,020 a year living in Nigeria, you will be taxed ₦290,656. That means that your net pay will be ₦1,055,364 per year, or ₦87,947 per month. Your average tax rate is 21.6% 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 ₦25.77, hence, your net pay will only increase by ₦74.23.
Bonus Example
A ₦1,000 bonus will generate an extra ₦742 of net incomes. A ₦5,000 bonus will generate an extra ₦3,712 of net incomes.