Summary
If you make ₦1,605,504 a year living in Nigeria, you will be taxed ₦361,594. That means that your net pay will be ₦1,243,910 per year, or ₦103,659 per month. Your average tax rate is 22.5% 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 ₦27.50, hence, your net pay will only increase by ₦72.50.
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.