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02/01/2026
🍓 NIGERIA'S NEW TAX SYSTEM EXPLAINED.
– Alacrity Explains
Nigeria's new tax system, effective January 1, 2026, aims to simplify a complex old system by consolidating many old laws into four new ones.
The main goal is to make low earners pay less, high earners pay more, and use technology to ensure everyone pays their fair share.
Here are the key changes that affect common people:
💰 Personal Income Tax (For Your Salary/Side Hustle)
▪️Low Income (≤ ₦800,000/year): Pay 0% tax.
▪️Middle Income (₦800,001 - ₦50M/year): Pay between 15% and 23%, based on new progressive bands.
· ₦800,001 - ₦3,000,000: 15%
· ₦3,000,001 - ₦12,000,000: 18%
· ₦12,000,001 - ₦25,000,000: 21%
· ₦25,000,001 - ₦50,000,000: 23%
▪️High Income (> ₦50M/year): Pay a top rate of 25%.
🔻N.B: Income from side hustles, online work (YouTube, freelancing, affiliate marketing), betting, gigs, and trading digital assets (crypto) is now clearly taxable.
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