Nigeria

Living, work, immigration, education & business — official links and practical guides

Key Facts

Basics

Currency

NGN

Region

West Africa

Local time

UTC+1

Africa/Lagos

Economy

Population

232.68M

GDP (current US$)

$252.26B

GDP per capita

$1,084

Source: World Bank Open Data (CC BY 4.0) · 2024 · Last checked: 2026-07-06

Tax snapshot

Corporate tax

30%

VAT

7.5%

Top individual income tax

25%

Capital-gains tax

Taxed as income

A separate 4% development levy on assessable profits (small companies exempt) is not added. Small companies (turnover up to NGN 50m and fixed assets up to NGN 250m, professional services excluded) pay 0%. Personal bands run from 0% on the first NGN 800,000 to 25% above NGN 50m. Individuals' capital gains are taxed as income at the personal rates.
Since 2026-01-01 set by the Nigeria Tax Act 2025 (the old VAT Act was repealed); the rate stayed at 7.5%. Small companies are exempt from filing and paying VAT.

Source: National tax authority · Cross-check: OECD · PwC · KPMG · Last checked: 2026-07-16

Headline statutory rates. The income-tax figure includes national surtaxes; any regional or municipal layer is shown beside it. Social contributions and reliefs are excluded. Verify the current rate with the authority before relying on it.

At a glance

Africa's most populous country, in the first year of a rebuilt tax system: the Nigeria Tax Act 2025 took effect on 1 January 2026, the Nigeria Revenue Service replaced FIRS, small companies with turnover up to ₦50 million pay no company tax, and personal income tax starts above ₦800,000. Much of daily life is decided at state level — employees' income tax goes to their state, and tenancy rules such as Lagos's limit on advance rent are state law. Foreign hires need an employer-held expatriate quota.

Best for

Founders building for a large domestic market who can start as a small company, employers bringing specialist staff under an expatriate quota, and ECOWAS citizens, who can enter and settle under the regional protocols.

Who this may not suit

Professional-services firms expecting the small-company exemption (they are excluded at any size), or anyone who needs a quick, employer-independent work permit.

Main routes in

Expatriate quota + CERPAC Employer holds the quota; STR visa, then the CERPAC residence permit. Register a company Ltd through the CAC; ₦100,000 minimum issued capital; one shareholder is enough. Rent a home State law; in Lagos, no more than a year's advance rent from a new yearly tenant.

Key trade-offs

The 2026 tax laws are new, so guidance and practice are still settling — and many published summaries misstate the thresholds.
Rent is customarily paid a year in advance, plus agency and legal fees, so moving needs a large upfront sum.
Work permits depend on the employer's expatriate quota, and the rules and fees change often.

First steps

1 Get a National Identification Number (NIN) and a Bank Verification Number (BVN); banks and most services ask for them.
2 If you are hiring, register for PAYE with the revenue service of the state where your staff live.
3 Before signing a lease, check what the state's tenancy law allows on advance rent and notice.

What changes often

· Guidance and regulations under the 2026 tax laws
· The national minimum wage, due for review in June 2027
· Expatriate quota, CERPAC and visa fees and procedures

The 2026 tax rules are new and summaries often get the thresholds wrong — check the Act's text and the Nigeria Revenue Service before relying on a figure. Nigeria Revenue Service (NRS) ↗