Selling property, shares, or another asset at a profit can trigger Capital Gains Tax (CGT) — but how it's taxed depends on who's selling, and several common disposals are exempt outright.
Yes. Under NTA §28(2)(a)(v)/§58, an individual's chargeable gain is aggregated into their total taxable income and taxed at the same progressive PAYE bands, not a separate flat rate. A company's chargeable gain (§27(1)/§56) is folded into total profits and taxed at the existing 0%/30% Companies Income Tax rate instead.
A dwelling-house used as your principal private residence is fully exempt under §51 (once per lifetime, no minimum-ownership period). Nigerian-company shares are exempt under §34(1)(a) if disposal proceeds are under ₦150,000,000 and the gain is ₦10,000,000 or less, or if the shares were fully reinvested in Nigerian-company shares within the same year, or transferred in a regulated securities-lending transaction.
Estimate CGT on a real disposal, including the exemption checks, with TaxLane's CGT calculator.
Yes. Under NTA §28(2)(a)(v)/§58, an individual's chargeable gain is aggregated into their total taxable income and taxed at the same progressive PAYE bands, not a separate flat rate. A company's chargeable gain (§27(1)/§56) is folded into total profits and taxed at the existing 0%/30% Companies Income Tax rate instead.
A dwelling-house used as your principal private residence is fully exempt under §51 (once per lifetime, no minimum-ownership period). Nigerian-company shares are exempt under §34(1)(a) if disposal proceeds are under ₦150,000,000 and the gain is ₦10,000,000 or less, or if the shares were fully reinvested in Nigerian-company shares within the same year, or transferred in a regulated securities-lending transaction.
No — for guidance only, not tax advice.