Introduction
Chioma just received her first payslip at her new job in Lagos. Her gross salary was ₦250,000, but she only received ₦220,833. "Where did ₦29,167 go?" she wondered, staring at the PAYE deduction line. She called her friend Tunde, who earns ₦600,000 monthly. "I heard you pay 24% tax when you earn more," she said nervously. "Does that mean you're losing ₦144,000 every month to tax?"
Tunde laughed. "That's what I used to think too! But that's not how Nigerian tax brackets work. I actually pay about 15% of my income in tax, not 24%."
Continue Reading
Sign up for free to read the full article and access our entire learning hub
✨ What you get with a free account:
Full Learning Hub Access
Read all STARTER tier articles
All Tax Calculators
PAYE, CIT, VAT, CGT with AI insights
10 Free AI Messages
Get tax advice from our AI assistant
Save Calculations
Track your tax history over time
🔒 No credit card required • Free forever • Cancel anytime