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Nigerian Investment Tax Calculator

Understand withholding tax (WHT) on your investment income. Know exactly how much you keep after tax.

Understanding WHT in Nigeria

The Nigerian tax authority (FIRS) imposes Withholding Tax (WHT) on investment income. However, FGN Savings Bonds and Nigerian Treasury Bills are 100% tax-exempt by law (PITA). This calculator shows your net after-tax return for each instrument type.

Educational purposes only. Tax laws change. Consult a qualified Nigerian tax professional (ICAN/CITN member) or FIRS for authoritative guidance.

Investment Income

Gross Investment Income

₦

Capital Gain (sale of shares / fund units)0% CGT in Nigeria

₦

Investment Type

Tax Breakdown

10% WHT

WHT Rate

10%

Withholding Tax Applied

Gross Income

₦500.0K

WHT Rate

10%

WHT Amount

₦50.0K

Net After Tax

₦450.0K

Gross Investment Income	₦500,000.00
Capital Gain (if applicable)	₦0.00
Total Pre-Tax Income	₦500,000.00
WHT Rate	10%
WHT Deducted	₦50,000.00
Capital Gains Tax (CGT)	₦0.00
Net Income After Tax	₦450,000.00
Effective Tax Rate (on total)	10.00%

Tax Treatment: Fixed Deposit

Interest earned on bank Fixed Deposits is subject to 10% Withholding Tax, deducted by the bank before crediting your account. This applies to all tenors and amounts.

Regulation: FIRS WHT Regulations & PITA Cap P8

Consider FGN Bonds or NTBs for tax efficiency if liquidity timing permits.

Nigerian Investment WHT Rate Table

Withholding Tax rates per FIRS / CBN regulations as at 2025.

Instrument	WHT Rate	Legal Basis	Notes
FGN Savings Bond	0%	PITA S.3(1)	Fully tax-exempt
Nigerian Treasury Bills	0%	CBN Circular	Sovereign, tax-free
Money Market Fund	10%	PITA	Applied to distributions
Fixed Deposit	10%	PITA	Applied to interest income
Dividends	10%	CITA	Applied at source
Dollar Fund	Varies	PITA / treaties	Depends on structure

Post-Tax Yield Comparison

Typical yields after 10% WHT is applied. Tax-exempt instruments keep their full nominal rate.

Tax-exempt (0% WHT)

Taxable (10% WHT applied)

Note for Diaspora Investors

If you are a non-resident Nigerian, double taxation treaties between Nigeria and your country of residence (UK, US, Canada, Germany and others) may further reduce or eliminate your WHT obligations. Consult a registered Nigerian tax professional or your bank's diaspora services for guidance specific to your situation.

This calculator is for informational purposes only. Tax laws change and individual circumstances vary. Consult a registered tax professional or FIRS for authoritative guidance on your specific tax obligations.