Capital Gains Tax (CGT) Calculator — Nigeria ☆ Save
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Share disposals have two exemption tests
Nigeria's treatment of gains on share disposals is unusual and worth understanding properly, because most ordinary investors fall outside the charge entirely.
Two thresholds apply — and clearing either one generally keeps you out:
- Proceeds of ₦150,000,000 or less in a year of assessment; or
- Gains of ₦10,000,000 or less.
These are substantial figures. A typical retail portfolio will not approach them, which is why most individual investors do not face a capital gains charge on shares — a fact frequently misunderstood in both directions.
Where the thresholds are exceeded, the gain is taxed at your applicable personal income tax rate rather than a separate flat CGT rate. That means your marginal band matters — see the income tax calculator for where you sit.
The gain is not the sale price
Gain = proceeds − allowable cost. Establishing that cost properly is what prevents overpaying:
- What you paid for the shares;
- Costs of acquisition — brokerage, commissions and transaction charges;
- Costs of disposal — brokerage and fees on the sale.
Keep your contract notes and statements. Reconstructing a cost base years later is difficult, and without evidence you may be assessed on a larger gain than you actually made.
Other assets are treated differently
The thresholds above relate to share disposals. Gains on other chargeable assets — including property and business assets — follow their own rules and do not benefit from those particular exemptions.
If you are disposing of property or a business interest, take advice before completing rather than after. Once the transaction is done, the planning options are gone.
Practical points
- Track your annual proceeds if you trade actively. The proceeds test is measured across the year of assessment, so several moderate disposals can aggregate toward the threshold;
- Set money aside on a large disposal. A tax bill you have already spent is the classic problem;
- Frequent trading may be treated as trading income rather than capital, which is taxed differently. If your activity looks like a business rather than investment, get advice;
- Losses. Ask how a loss on disposal can be treated — the rules are specific.
Frequently asked questions
Do I pay CGT on shares?
Usually not, if your annual proceeds are ₦150,000,000 or less or your gains are ₦10,000,000 or less. Above those, the gain is taxed at your applicable personal income tax rate.
Is there a separate flat CGT rate?
For chargeable share gains the calculator applies your personal income tax rate rather than a separate flat rate. Confirm the treatment for other asset classes.
What about property?
Property disposals follow different rules and do not get the share exemptions. Take advice before completing a sale.
Can I deduct my brokerage costs?
Acquisition and disposal costs generally form part of the calculation — keep the contract notes as evidence.
What if I trade very frequently?
Activity resembling a trade may be taxed as income rather than as capital gains. The distinction depends on your conduct and intention — get advice if you trade actively.
Thresholds and treatment are the current figures held in this site's tax configuration. Tax law changes and asset classes differ — confirm with the relevant tax authority or a registered practitioner before acting. General information, not tax advice.