| Period |
Breakdown |
| 1st April 1961 - 31st March 1972 |
40% plus super tax. (Super tax was payable under certain circumstances) |
| 1st April 1972 - 31st March 1975 |
40% on the first N10, 000 plus 45% on the excess Over N10, 000 |
| 1st April 1975 - 31st March 1976 |
NIL on the first N6, 000 plus 40% on the excess over N6,000 |
| 1st April 1976 - 31st March 1978 |
NIL on first N6, 000 plus 45% on the excess over N6,000 |
| 1st April 1978 -31st March 1979 |
NIL on the first N6, 000 plus 50% on the excess 6,000 10% special levy payable on banks excess profit |
| 1st April 1979 31st March 1986 |
45% 10% Special levy payable by banks |
| 1st Jan 1987 31st Dec. 1988 |
40% 20% Small business rate with effect from 1988 10% Special levy payable on banks excess Profit |
| 1st Jan 1989 31st Dec. 1990 |
40% 20% Small business rate with effect from 1988 10%Special levy payable on bank excess profit |
| 1st Jan.1991 31st Dec. 1991 |
40% 20% Small business rate. Special levy abolished by decree 63 of 1991 |
| 1st Jan 1992 31st Dec. 1992 |
35% (Decree changing rate from 40%- 35% was passed in 1993) |
| 1st Jan.1993 31st Dec.1995 |
35% 20% Small business rate 2%Educational Tax |
| 1st Jan 1996 Date (2013) |
30% 20% Small business rate 2%Educational Tax |
