Summary
If you make ₦1,557,660 a year living in Nigeria, you will be taxed ₦348,434. That means that your net pay will be ₦1,209,226 per year, or ₦100,769 per month. Your average tax rate is 22.4% and your marginal tax rate is 27.5%. 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 ₦27.51, hence, your net pay will only increase by ₦72.49.
Bonus Example
A ₦1,000 bonus will generate an extra ₦725 of net incomes. A ₦5,000 bonus will generate an extra ₦3,625 of net incomes.