Startup South 7 Hosted in Port-Harcourt

Startup South (#StartupSouth7) the biggest Nigerian South East and South South Startups event, organised by the StartupSouth Enterprise Development. This year, 2022 StartupSouth event, in it’s 7th Series, will be hosted in Port-Harcourt City, Nigeria.

Register Here:

The event will used to highlight, teach and network. Multiple topics on building the startup business, innovation, technology, arts and creatives ecosystem in Southern parts of Nigeria.

Hashtags : #Iam4Art | ByCommunity4Community | #StartupSouth7 | #Business | #Innovation | #Technology

Day 1 Startup South Events – 10th November 2022

Day 2 StartupSouth Events – 11th November 2022

Flood in Nigeria

Flood in Nigeria

Flood in Nigeria (#NigeriaFloods) has raised so many controversies on the source of water that is causing it. Many have attributed the source of flood water in Nigeria to the overflow from Lagdo Dam in Cameroon, but in reality there are multiple sources of water that can cause flooding. Amongst all the sources, high rainfall and climate change has contributed the most to the flooding that Nigeria is experiencing at the moment. The last time Nigeria experienced this much flooding was in 2012, now in 2022 (10 years later) we have something worst, who knows what will happen in 2032.

Flood Sources

Flood water sources may arise from multiple sources

  • Heavy Rains (300 mm and above)
  • Overflowing Rivers
  • Broken Dams
  • Urban Drainage Basins
  • Storm Surges and Tsunamis
  • Channels with Steep Sides
  • A Lack of Vegetation
  • Melting Snow and Ice

Map of Flooded Locations in Nigeria

*Bookmark and always visit this page for updated map and data.

Effects of Flooding in Nigeria

Flooding has so many negative socioeconomic side effects some of which may include

  • Loss of lives, properties and livelihoods
  • Health hazards like spread of Cholera, Malaria, Typhoid, Malnutrition
  • Limited access social amenities for health, education, roads
  • Damaged several residential and public structures such as schools.
  • Reduction in productivity and increase poverty
  • Loss of agricultural land, products and decreased food supply
  • Increased crime, social inequity and even social unrest
  • Reptiles, such as snakes and crocodiles, invading communities

Flood Prone Hotspots Predictions for Nigeria

Places Associated or Affected by Flooding in Nigeria

Lagdo Dam Cameroon, Dasin Hausa Dam, Adamawa, Mambila Plateau Taraba, Taraba, Jos, Plateau Hills, Plateau, Jigawa, Yobe, Borno, Nassarawa, Kogi, Benue, Delta, Bayelsa, Imo, Rivers, Cross Rivers, Anambra, Kastina, Akwa-Ibom, Edo, Kebbi, Lagos, Oyo, Dadin Kowa Dam, Gombe Kiri Dam, Adamawa Tiga Dam, Kano.

Related Resources

Top Searches from Nigeria Related to Floods

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Naira Diary NDI Awards 2022

Naira Diary Unveils NDI Awards 2022 Lagos

Naira Diary Unveils NDI Awards 2022 – THE HEROES

Naira Diary Unveils NDI Awards 2022 Lagos Themed  ‘THE HEROES’, Picks Lagos As The Host City

Naira Diary, one of the leading news blogs in Nigeria telling Nigerian stories and amplifying stories told by Nigerians while keeping everyone entertained, informed and educated, has unveiled the theme for this year’s Naira Diary Impact Awards – THE HEROES

NDI Awards by Naira Diary also announced Lagos as the host city for NDI Awards 2022.

As a blog, Naira Diary has painstakingly given a voice to the voiceless, promoted businesses and events, and led conversations in areas of national development within Nigeria. However, with NDI Awards 2022, this news and entertainment blog is looking to take it activities to the next level.

Explaining the theme,  “THE HEROES”, Henshaw Jacobson, the director for Naira Diary Impact Awards said, “ Heroes as a project, was started with the sole aim of appreciating real-life heroes and their ‘heroic’ actions in Nigeria. This project recognizes that there are heroes and that not all of these heroes wear capes. 

“THE HEROES”, award project aims to recognize and celebrate these people, groups, and entities who have contributed to bettering lives and making society better.

Part of the plan is not only to recognize and appreciate, but also to bring  publicity and attention  to the works “THE HEROES”, individuals, organizations, and entities. We hope to bring more attention to the need of our society to accept and celebrate heroes doing little or great things to better their environment. 

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Objective of The Heroes Award – Naira Diary Unveils NDI Awards 2022 Lagos

A portion of what the project seeks to achieve is to reinstate the mindset that we need more heroes, by recognizing and appreciating these heroes.  The is award would also highlight the works of such individuals, groups, and entities. The objective behind this is to motivate them to do more, and through them, inspire more impact-driven people across Nigeria”.

Why We Picked Lagos

The city of Lagos was picked as the host city. Henshaw said this will help Lagos city  connect with more unrecognized Nigerian heroes. NDI Awards is looking to give special attention to those who have taken heroic actions, but are not known nor celebrated by other cities.

Nomination Process

On the nomination and voting, The NDI awards would rely on public nomination for its entries. This means that the public will be solicited to nominate and subsequently vote for candidates. The nomination period is expected to last for four(4) weeks, followed by a grand finale that would include both virtual and in-person voting. 

In addition to the nomination process, there would be a  selection process which would involve a jury whose primary responsibility is to properly assess the nominated individuals and compile the final list of nominees who would be voted.

Fairness and Transparency

To promote fairness and transparency. The award project would thoroughly access all nominated candidates through a an assessment timeline of 12 to 14 months. During this period, the jury will be paying close attention to what these nominees have done within the period. In addition, each award category would have its individual eligibility criteria. 

Bonny Island Marathon 2022 #Run4Nigeria

Bonny Island Marathon 2022 #Run4Nigeria

Bonny Island Marathon 2022 #Run4Nigeria

The Bonny Island Marathon 2022 #Run4Nigeria is in its 5th Edition, scheduled for  Saturday, 10th December 2022. The theme for this year’s edition is Run for Nigeria, using the event hashtag #Run4Nigeria, it seeks to draw attention around the current political climes and wants to attract attention of especially youths on the need to become active citizens and participate positively in selecting the right leadership in order to ensure progress in Nigeria.

Officially the Bonny Island Marathon 2022 #Run4Nigeria campaign spotlights the prospects surrounding Nigeria’s polity, hopes amidst challenges, and the desire for better leadership. It is intended to promote civic responsibility, political consciousness among young people, and the clamor to include young people in governance.

Prize Awards for 2022 Winners 

The reward pool has been increased to $15,000. This amount will be shared amongst 6 winning categories, which are the winner, runner ups(male and female respectively), indigenous winner, children category winner and persons with disability winner category.

Inaugural Board of Advisors

At press release held on the 2nd of July 2022 at Creative Hub, in New GRA, Port-Harcourt, the Bonny Island Marathon(BIM) organizers Realmlux Limited announced the addition of an inaugural Board of Advisors, and they include: 

  • Eso Celestine Ugoeze, 
  • Sokari Tobin, 
  • Zainab Muhammad Garba, 
  • Baa Amaka, 
  • Venerable Peter Kiribo Blu-Attoni, 
  • Adams Nasiru Joseph, 
  • Luckyn Loveday Belema 
  • Lady Edith Opuada-Hart.

Promoting Sports – Bonny Island Marathon 2022 #Run4Nigeria

The objective of the Bonny Island Marathon is to promote the sports-tourism sector of the Bonny Kingdom. It was also set to discover and export next generation Athletes, and be a platform known for global reputation in sports.  It will portray Bonny Island to the global community as a safe, peaceful and emerging metropolitan city to live and invest in – beyond oil and gas.

So far so good the BIM has grown to over 10,000 participants from across 23 states in Nigeria, awarded over $10,000 in awards and prizes, recorded zero casualty across four successful editions, got featured on Africa Sport On by Supersports, with to come with this 5th edition. 

The Bonny Island Marathon has a mandate to spotlight and promote promising local athletes, and therefore they sponsored its 2019 Marathon Winner, Nengiye Wilcox for the second time to the Access Bank Lagos City Marathon and the 2022 Okpekpe 10K Road Race. This will present him the opportunity to not only activate his career, but to see competition from a professional and global perspective and get more serious at striving to make an impact on the world.

The future of BIM is continue to improve, engage relevant sports agencies, apply international best practices and to become an internationally marathon brand that is recognised by the World Athletics Organization, AIMS

Thanks to key stakeholders for being with, and supporting the Bonny Island Marathon.

  • His Majesty, King Dr. Edward Asimini Williams Dappa Pepple III, Perekule XI, CON. JP. Amanyanabo and Natural Ruler of Ancient Grand Bonny Kingdom,
  • The Bonny Chief’s Council, 
  • The Bonny Local Government through the Chairman, Hon. Anengi Barasua D. Claude-Wilcox,
  • The Bonny Youths Federation,
  • Our Medical Partners, 
  • Federal Road Safety Commission(FRSC), 
  • Security agencies, 
  • BIM’s Board, 
  • Shell Petroleum Development Company(SPDC) and 
  • Nigeria LNG (NLNG) Limited 

Marathon Digest: 

What it takes to become a Kenyan distance champion – World Athletics Organization

Call for Partnership:

Interested partners and sponsors including stakeholders who would like to contribute and be part of the success for this 5th year’s edition should contact the organizing team for sponsorships and collaboration. 

Bonny Island Marathon 2022 #Run4Nigeria


Plans for Bonny Island Marathon 2022 #Run4Nigeria logistics and sorting out the necessary technicalities that will allow for hosting International runners are underway by trying to establish conversations with other countries’ embassies in Nigeria.


Bonny Island Marathon is a sports-tourism 21K marathon in Bonny Island, Rivers State. It started as a 10KM Marathon in 2018, to a 21KM Marathon today, and a 42km in the near future. Participation has been growing and it is currently recording over ten thousand aggregated participants spanning over 23 states across Nigeria with interest coming from Kenya, Ethiopia and others. BIM attracts professionals, amateur, and leisure runners of all genders and also aspires to accommodate people with special needs.

Marathon Winners : 

2022Run for Nigeria #Run4NigeriaComing Soon
2020Racing for EarthNkeki Maina(1st),Egu Michael (2nd),Godspower Benson(3rd)
2019Racing for UnityNengiye Wilcox
2018Racing for Unity

Runners Categories:

There will be two main classes of runners; 

  • Elite Runners – 21km : These are actual runners competing for the ultimate Prizes,
  • Leisure Runners – 10km: These are participants running for fitness, enthusiasm or for a course.

Extra Runners Categories:

In order to be an all inclusive event, provisions for extra 2 categories are being considered; 

  • Special Needs – People living with disability, and 
  • Secondary School Students who will compete for an opportunity to win scholarships.


Data recorded over 10,000 participants in the last 4 years. Internal data shows that over 80% of participants are young people within 18 – 35 years with about 25% aggregate appearance for women.


The official Marketing and Communications Agency remains Outsaurce PEP.

What started as a community event is now attracting global attention,with the likes of Supersports, Rhythm 93.7 FM, Wave FM PH, Groth Network, Accurial media (USA) and others supporting as media partners.

Race Routes: 

The Bonny Island Marathon 21km category will maintain its routes and terminate at “Government School ”, while 10km runners will kick-off from Willbros Junction and terminate at Government school, Shell Gate in Bonny Local Government Area.

Bonny Island Marathon 2022 #Run4Nigeria

Source : 

How to Register: 

Registration is open to the public, and for local and global athletes. Visit  to learn more. 

Registration Deadlines: 

Starts 1st September –  30th November, 2022.

Related Resources: 

How to Count Houses on Map.

How to Count Houses on Map

How to Count Houses on Map. Counting houses using digital maps allows us to easily make estimations for business case analysis, other humanitarian and social uses cases that require its application. We need to know how to quickly count houses or buildings on a map.

The ability to counts buildings across Africa or other natural disaster zones is useful to be able to assess the number of buildings or households affected. To be able to estimate the humanitarian services requirements and level of demand for social amenities.

Free Digital Maps to Count Houses 

Techniques and Technologies

  • Open Building ( you can Explore, FAQ, Data format, Download)
  • OpenStreetMap(OSM) data from Python and Overpass Turbo API
    • Using Overpass Turbo ( Challenges In Africa – This map intentionally left blank, (received empty dataset))
    • Using Python library called overpy that allows executing Overpass queries from Python
  • Satellite imagery (high resolution households) and use a Computer Vision(CV) algorithm to count the houses.

Counting Houses or Building on Satellite Imagery

Use-case: Counting Buildings in an Area Using Overpass Turbo

  • Overpass Turbo API uses OSM stored data for analysis
  • The OSM stored data is encoded as elements on their maps and expressed using a collection of points, each one with a single latitude and longitude;
    • Nodes are individual points generally used to mark places such as individual shops.
    • Ways are sets of points that describe shapes of buildings, roads etc. it is generally an in depth distinguishing description of node points.
  • To start the analysis process with, we only need two details: location and radius.
    • Location is expressed in geographic coordinates, namely latitude and longitude
    • In case you start with an address or a name of a place, you’ll need to perform a process called geocoding first, i.e. changing it to geographic coordinates.
  • We will generally be interested in nodes (especially with tags) rather than ways because nodes are usually enough when it comes to counting buildings.
  • Counting by category: you can also count by categories using Map Features which are identified as;
    • Categories (keys) and sub-categories (values) and using them we can filter the nodes based on which buildings we’re interested in 
    • Examples; building = retail’, ‘building = supermarket’ , ‘healthcare = pharmacy’, “amenity”=”restaurant”

Noteworthy for Africa on How to Count Houses on Map:

  • Limitation for Africa : Insufficient or no well defined data about their cities, nodes and ways points.
  • Counting of houses in most African regions is almost impossible because building or house node data has not been geocoded on Open Street Map (OSM).

Overpass API vs Google Maps Places API (Nearby Search Request)

  • Google API it’s paid (Overpass API is completely free)
  • it only supports very few categories of places, significantly less than Overpass (it can be partially solved by using correct keywords), 
  • it only returns up to 60 results (spread across several pages), which frequently is way too few to count all relevant places.

How to Count Houses on Map: Example Using Overpass Turbo Web App (View Link)

How to Count Houses on Map
How to Count Houses on Map

Example of Overpass Turbo Query Code

This has been generated by the overpass-turbo wizard.
The original search was:
// gather results
  // query part for: “building=house”
// print results
out body;
out skel qt;

Google Earth Engine 

  • Earth Engine GCP
    • A planetary-scale platform for Earth science data & analysis. Geospatial data processing and analysis platform. Powered by Google’s cloud infrastructure.
    • Google Earth Engine combines a multi-petabyte catalog of satellite imagery and geospatial datasets with planetary-scale analysis capabilities. 
    • Scientists, researchers, and developers use Earth Engine to detect changes, map trends, and quantify differences on the Earth’s surface. 
    • It involves satellite imagery, your algorithms and real world applications or use cases
    • Earth Engine is now available for commercial use, and remains free for academic and research use. 
    • Meet Earth Engine (Watch Now) 

Insights for a more sustainable world, powered by Earth Engine.

Understand and tackle critical sustainability and climate issues such as deforestation, water management and sustainable land use.

Our Interest in Google Earth EngineDo some house counts to get to understand social amenities resource demands, get to familiarize with the possibilities of how to use it for knowledge discovery and content related to earth science, as well as data analytics projects for good in my community. Also teach others about its usefulness to research.

Notes On Solutions and Limitations

  • The OpenStreetMap solution did not work because we have mostly unstructured data representations of Africa on the map. (Tool Guide)
  • Estimating Number of Houses – A better metric is the number of households that can afford your service/product at a price point and statistical distribution. You could ballpark your number by taking population density and dividing it by average household size to get an estimate of households per area and then divide by area of interest.( Source )
  • Download high resolution households satellite imagery and use a Computer Vision(CV) algorithm to count the houses.

Related Resources 

Bank Charges Commissions in Nigeria Seefinish

Bank Charges in Nigeria

Bank charges in Nigeria are generally regulated by the Central Bank of Nigeria (CBN). The CBN sets all of the commission charge rates at fixed and others as negotiable or flexible rates within competitive bounds of profitability for financial institutions. 

Bank Charges in Nigeria :

The Central Bank of Nigeria generally releases a circular with a “Guide to charges by banks, other financial institutions and non-bank financial institutions”(Click to View).

The Guide to Bank Charges provides a basis for the application of charges on various products and services offered by banks and other regulated institutions under its purview.

Most Frequent Bank Charges in Nigeria

The most frequently applied bank charges to customer accounts as required by CBN regulations and guidelines are listed below.

Current / Savings Account

  • Maintenance Fee – Negotiable subject to a maximum of N1 per mille (i.e. N1000) for current. No charges for savings accounts
  • Outward Telegraphic/SWIFT and other transfers – Swift cost recovery, 0.5% commission on transfer plus associated offshore bank charges (where applicable)
  • Commission on Withdrawals from Domiciliary Accounts (whether savings or current account) – 0.05% of transaction value or $10, whichever is lower

Electronic Banking Charges in Nigeria

  • Hardware Token  – Cost recovery subject to a maximum charge of N2,500
  • Software Token – One Time Password (OTP) – No Charge, However, where the OTP is sent to the customer via SMS, charges will be on cost recovery basis.
  • Bills Payment (Including Bills Payment through other E-channels) – Negotiable subject to a maximum of N500per beneficiary payable by the sender
  • Electronic Funds Transfer Charges
    • Below N5,000 charge  N10 
    • Within N5,001 – N50,000  charge  N25 
    • Above N50,000 charge N50

Card Maintenance Fee

  • Foreign Currency Denominated Debit/Credit Cards – $10 p.a. (or its equivalent)
  • Naira Debit/Credit Card 
    • Current account – No charge,  
    • Savings accounts – maximum of N50 quarterly maintenance fee
  • Issuance / Replacement / Renewal Fees – N1,000
  • Remote-On-Us (from other bank’s ATM) in Nigeria – maximum of N35 after the third withdrawal within the same month

ATM Transactions

  • On-Us (withdrawal from issuing bank’s ATM) – No Charge
  • Not On-Us (withdrawal from other bank’s ATM) in Nigeria – N35 after the third withdrawal within the same month
  • International Withdrawals (per Exact cost by international acquirer (cost recovery)transaction) whether debit/credit card

Merchant Service Commission (MSC)

  • General Merchant (Including Domestic, International Travels and Entertainment) – 0.50% of transaction value but not more than N1,000

Transaction Alerts

  • SMS Alert (Mandatory) – Cost recovery (on customer-induced transactions) , No charge (for bank-induced transactions
  • However, where a customer opts not to receive SMS alert, the customer should issue an indemnity (for losses that may arise as a result) to the bank.
  • Email notification –  No charge
  • Use of Unstructured Supplementary Service Data (USSD) – Current NIP charges apply
  • Purchase with cash-back N100 per N20,000 subject to cumulative N60,000 daily withdrawal

Verification of Customers’ Documents with Government Agencies

  • CAC – Cost recovery
  • Certified True Copy (CTC) – Cost recovery

Cost of Cheque Books

  • Cheque Books – Cost recovery
  • Counter Cheque – N50 per leaflet

Cashless Policy


  • Cash deposit – 2% for transactions above N500,000
  • Cash withdrawal – 3% for transactions above N500,000


  • Cash deposit – 3% for transactions above N3,000,000
  • Cash withdrawal – 5% for transactions above N3,000,000

Interest on Deposits

  • Current Account in Credit Balance – Negotiable
  • Savings Account – Minimum of 30% of MPR p.a. (not applicable if a customer makes more than 4 withdrawals in a month)
  • Term Deposit Accounts –  Negotiable
  • Domiciliary Accounts – Current Accounts Negotiable
  • Savings Accounts – Negotiable

Penal Rate on Loans/Advances/Excess Overdraft/Credit Limit

  • Naira loans and advances: Maximum of 1% flat per month of unpaid amount in addition to charging current rate of interest on outstanding debt.
  • Foreign currency loans and advances: Maximum of 0.25% flat per month of unpaid amount in addition to charging current rate of interest on outstanding debt

Bank Charges Compliance and Accountability Standards in Nigeria

Your have a right to report poor bank services rendered, because you will be doing more service to yourself, your community and your country in shaping it into a more accountable society.

@seefinish & insights

Accountability and Responsibility by Banks

  • The Executive Compliance Officers (ECO) shall monitor compliance with the requirements of this Guide and shall be held liable for any breach.
  • The Head, Information Technology Division shall ensure that the name of all system related/generated/posted charges shall conform strictly to this Guide.
  • The Head, Information Technology Division shall render monthly report attaching a schedule of all failed transactions on e-channels (ATM, PoS, mobile, web/internet and related channels) that originate or terminates in his bank, to the Director, Payments System Management and Consumer Protection Departments of the CBN
  • Details of all fees and charges applicable to a transaction shall be disclosed to the customer at the point of consummation (where applicable).
  • Transaction receipt/alert/confirmation for any charge shall contain a description of the charge.

Sanctions to Banks

  • Financial Institutions are to note that any breach of the provisions of this Guide carries a penalty of N 2,000,000 per infraction or as may be determined by the CBN from time to time.
  • Where a bank is found to have wrongfully imposed a particular charge on its customers, the provision of Section (i) above shall apply for the charge on each customer.
  • Failure to comply with CBN’s directive in respect of any infraction shall attract a further penalty of N2,000,000 daily until the directive is complied with or as may be determined by the CBN from time to time.
  • Banks are required to log every complaint received from their customers into the Consumer Complaints Management System (CCMS) and must generate a unique reference code for each complaint lodged, which must be given to the customer. Failure to log and provide the code to the customer amounts to a breach and is sanctionable with a penalty of N1,000,000 per breach.
  • A penalty of N100,000 shall be imposed on a financial institution that contravenes the provisions of Part 6C.

Related Resources to Bank Charges in Nigeria

Tax in Nigeria

Tax in Nigeria 

There are numerous tax administrations in Nigeria. The taxation systems that accrue to companies, individuals, products or services in Nigeria, needs to be fully understood in other to avoid defaulting fines and penalties, also to ensure the correct customer charges and deductions are implemented.

List of Tax Systems in Nigeria

  • Companies Income Tax (CIT)
  • Personal Income Tax (PIT)
  • Withholding Tax (WHT)
  • Value Added Tax (VAT)
  • Stamp Duty (SD)
  • Capital Gains Tax (CGT)
  • National Information Technology Development Levy (NITDL)
  • Tertiary Education Tax (EDT)

Tax Types and Rates in Nigeria

Companies Income Tax (CIT)

  • CIT is governed by Companies Income Tax Act (CITA), Cap C21, LFN 2004 (as amended)
  • CIT is a tax imposed on profit of a company from all sources
  • The rate of tax is 30% of total profit of a company
  • Some profits are exempted from CIT provided they are not derived from trade or business activities carried out by the company e.g. Cooperative society
  • Every company shall pay provisional tax not later than three (3) months from the beginning of each year of assessment which is an amount equal to the tax paid in the previous year of assessment. This is a payment on account of the year’s income tax assessment

The due date for filing returns:

  • For newly incorporated companies, within eighteen (18) months from the date of incorporation or not later than six (6) months after the end of its accounting period, whichever is earlier
  • For existing companies, within six (6) months from the end of the accounting year.
  • A self-assessment filer may (by application) commence payment of instalment before due date but such installment cannot extend beyond two months after the due date
  • Companies in operation for more than four (4) years are liable to minimum tax except those specifically exempted by the tax law

Minimum Tax under CITA arises where:

  • A company makes a loss
  • A company has no tax payable
  • Tax payable is less than minimum tax​

Small company rates

  • The CIT rate is 0% for companies with gross turnover of NGN 25 million or less.

Medium company rates

  • The CIT rate is 20% for companies with gross turnover greater than NGN 25 million and less than NGN 100 million.

Large company rates 

  • The CIT rate is 30% for large companies (i.e. companies with gross turnover greater than NGN 100 million)

Learn more here : 

Personal Income Tax (PIT)

  • Personal Income Tax is guided by the Personal Income Tax Act Cap P8 LFN 2004 (as amended)
  • The tax is imposed on income of Individuals, Corporate sole or body of individuals, Communities, Families and Trustees or Executors of any settlement- An individual is entitled to a Consolidated Relief Allowance of N200,000 or 1% of gross income whichever is higher plus 20% of gross income
  • The rate of the tax ranges from 7% to 24%, depending on the amount of chargeable income- Individuals are subject to minimum tax of 1% of gross income where the income is less than N300,000 per annum
  • The tax is administered by FCT/States Internal Revenue Service(IRS) in respect of their residents
  • The tax is also administered by FIRS on non-residents, members of the Armed Forces, Police, Officers of Nigerian Foreign Service
  • The due date for filing returns of the tax is 31st March of every year
  • The due date for remittance of PAYE is 10th day of every succeeding month
  • An employer shall file return of emoluments and tax deducted from the employees in the preceding year not later than 31st January of every year
  • A person who fails to file a return shall be liable on conviction to a fine of N5,000 and a further sum of N100 for every day during which the failure continues or imprisonment of six (6) months or both
  • Any employer who fails to file a return, shall be liable on conviction to a penalty of N500,000 for body corporate and N50,000 in the case of individual
  • Learn more here; Nigeria Individual – Taxes on personal income – 

Withholding Tax (WHT)

  • Withholding Tax (WHT) is a method used to collect Income Tax in advance
  • WHT is deducted at varying rates ranging from 5% to 10% depending on the transaction
  • The due date for filing WHT returns is 21st day of every succeeding month
  • Penalty for late filing of returns is N25, 000 for the first month it occurs and N5, 000 for each subsequent month the failure continues
Tax in NIgeria

Source : PWC Nigeria Corporate – Withholding taxes – 

Value Added Tax (VAT)


  • VAT is governed by Value Added Tax Act Cap V1, LFN 2004 (as amended)
  • VAT is a consumption tax paid when goods are purchased and services rendered
  • It is a multi-stage tax
  • VAT is borne by the final consumer
  • All goods and services (produced within or imported into the country) are taxable except those specifically exempted by the VAT Act
  • VAT is charged at a rate of 7.5%
  • Some goods and services such as non-oil exports are zero rated
  • All taxable persons are required to file VAT monthly returns not later than 21st day following the month of transaction

Under the Nigerian VAT regime, three groups of taxpayers are obligated to deduct VAT at source and remit directly to the tax authority. These are:

  1. Nigerian companies that are carrying on VATable transactions with non-resident companies within the country; 
  2. Government ministries, statutory bodies and other agencies of government; and
  3. Companies operating in the oil and gas sector.

Stamp Duty (SD)

  • It is governed by Stamp Duties Act, CAP S8, LFN 2004 (as amended)
  • It is administered on written documents only
  • It is administered by both FIRS, FCT and respective States Internal Revenue


  • FIRS assesses and collects duties on documents executed between a company and an individual, group or body of individuals
  • FCT and States Internal Revenue Service(IRS) assess and collect duties on documents executed between persons or individuals
  • A Commissioner of Stamp Duties adjudicates on the amount of duty payable on instrument (Adjudication is the process of determining the correct amount of duty payable on an instrument)

Forms of Stamp Duties

  • Fixed Duties- duties that do not vary with consideration, e.g. duties on payment receipt, proxy forms, guarantor forms, etc.
  • Ad-valorem- Duties that vary with consideration, e.g. duties on Share Capital, Deed of Assignment, Debenture, Bills of Exchange, etc.
  • Methods of stamping: Embossing with die, Affixing adhesive stamp and Affixing postage stamp in lieu of adhesive stamp
  • Duties are paid before documents are executed​

Capital Gains Tax (CGT)

  • It is governed by Capital Gains Tax Act, Cap C1 LFN 2004 (as amended)
  • Capital Gains Tax is charged at a flat rate of 10% of chargeable gains
  • All chargeable assets are subject to Capital Gains Tax when disposed at a gain, except those specifically exempted by the Act
  • Chargeable assets include all forms of property whether or not situated in Nigeria
  • The due date for filing return and payment of the tax is the same as in Companies Income Tax
  • Allowable expenditure for the purpose of CGT includes fees, commissions or remunerations paid for professional services and cost of transfer
  • Gains exempted from CGT include those arising from disposal of decorations awarded for valour and gallant conduct, life insurance policy, Nigerian government securities, stock and shares etc.
  • Gains shall not be chargeable if it accrues to some organizations provided the gain is not derived from any disposal of any asset acquired in connection with any trade carried on by the organization, e.g. An ecclesiastical, charitable or educational institution of a public character, Statutory registered friendly society, Cooperative society registered under Cooperative Societies Law of any State, Trade union registered under the Trade Unions Act.

National Information Technology Development Levy (NITDL)

  1. The Levy is governed by National Information Technology Development Agency Act, CAP N156 LFN 2004 (as amended)
  2. The Levy is charged at the rate of 1% of Profit before tax
  3. The Levy is charged on specified companies with turnover of N100 million and above

Companies liable to pay the Levy are:

  1. GSM Service Providers and all Telecommunication Companies
  2. Cyber Companies and Internet Providers
  3. Pension Managers and Pension Related Companies
  4. Banks and other Financial Institutions and
  5. Insurance Companies

Tertiary Education Tax (EDT)

Learn more –

  • It is now governed by Tertiary Education Trust Fund (Establishment, Etc.) Act 2011 Imposed on all companies registered in Nigeria
  • The rate of the tax is 2% of assessable profit
  • The due date for filing returns is the same as that of CIT and PPT
  • The tax is an allowable deduction in computing the assessable profits of companies engaged in petroleum operations(Upstream)
  • Funds derived from the tax are used for rehabilitation, restoration and consolidation of tertiary education in Nigeria by the Tertiary Education Trust Fund (TETFUND)
  • The amount in the Fund is distributed between Universities, Polytechnics and Colleges of Education in the ratio 2:1:1 respectively
  • First offence against the Act is liable on conviction to a fine of N1, 000,000 or a term of 6 months imprisonment or both. Second and subsequent offences attract a fine of N2, 000,000 or a term of 12 months or both.

Other Sub-types Tax and Rates 

Petroleum Profit Tax (PPT)

This is a tax on income of companies engaged in upstream petroleum operations while tax to be charged is on the profits of each accounting period of a company and shall be taken to be the aggregate of adjusted profit, assessable profits and chargeable profits.

The Profit Petroleum Tax rates are as follows:

  • 50% for petroleum operations under production sharing contracts (PSC) with the Nigerian National Petroleum Corporation (NNPC).
  • 65.75% for non-PSC operations, including joint ventures (JVs), in the first five years during which the company has not fully amortised all pre-production capitalised expenditure.
  • 85% for non-PSC operations after the first five years.
  • Upstream gas profits are taxed at 30%.

Tenement Rate

These rates are property taxes paid by landlords or occupiers of a building payable to local government Councils as part of their internally generated revenue. It is a consolidation of ground rent and neighborhood improvement levy. The applicable formula provided by the reviewed law.

Some know levies payable to the state give rise to a total levy of 3% of the fair value of the land;

  • Consent fee
  • Land registration fee
  • Right of Occupancy fee and
  • Tenement rates are chargeable by state and local government authorities.

Tax Types Most Important to MSME

  • VAT – Value Added Tax (7.5%) – Charged to final consumers of goods or services (i.e from company or individual)
  • WHT – Withholding Tax (5-10%) – A method used to collect Income Tax in advance from your company(10%) or individual(5%) services or product supplies.
  • CIT – Companies Income Tax (30%) – a tax imposed on profit of a company from all sources, companies with gross turnover greater than NGN 25 – 100 million above)
  • PIT – Personal Income Tax (7 – 24%, 1% of Gross) – a tax imposed on income of Individuals, Corporate sole or body of individuals, Communities, Families and Trustees or Executors of any settlement

How to File and Pay Tax in Nigeria 

To pay tax in Nigeria you either visit and FIRS offices location in any state or use their digital platforms

Tax Terminologies and Definitions


  • The amount of money or its equivalent received during a period of time in exchange for labor or services, from the sale of goods or property, or as profit from financial investments.
  • ​​In Economics – The amount of monetary or other returns, either earned or unearned, accruing over a given period of time. 
  • In Commerce – The receipts; revenue.

Significant Economic Presence (SEP) –

  • Derives income of NGN 25 million or equivalent in other currencies from Nigeria in a year
  • Uses a Nigerian domain name (.ng) or registers a website address in Nigeria, or
  • Has purposeful and sustained interactions with persons in Nigeria by customizing its digital platform to target persons in Nigeria (e.g. by stating the prices of its products or services in Naira).

Related Resources for Tax in Nigeria

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Port-Harcourt Startup Innovation Seefinish

Port Harcourt Startup Innovation Ecosystem Tour Hangout

Port Harcourt Startup & Innovation Tour / Hangout was a 2 day event to understand, as well as bolster the Port Harcourt innovation ecosystem. The organizers engaged with innovation hubs, work spaces, investors, startups, programmers, media brands, digital marketing brands, technologist, entrepreneurs, business owners, as well as mentees and mentors. The main organizers were StartupSouth and Afrilabs.

Port Harcourt Startup Event Activities

The Port-Harcourt Startup event hosted a series of activities which were both educating and engaging. The main activities were:

  • Port-Harcourt Innovation Ecosystem Tour
  • Hub Leaders Seminar (Starting and Running a Sustainable Innovation Hub) : Watch on Youtube
  • Port-Harcourt Startup and Innovation Hangout

Events Partners

The main events partners amongst the many other associate business and startup brands that attended the event includes;

Innovation Hubs Visited in Port-Harcourt

Watch YouTube Videos of Innovation Hub Tour

Main Speakers / Personalities :

  • Anna Ekeledo (Exec. Dir. AfriLabs)
  • Ikechukwu Uche (SSEAN Investor)
  • Uki Asemota-Osifo (Regional Lead Digiclan)
  • Uche Aniche ( Convener #StartupSouth )


The Port Harcourt Startup Innovation Ecosystem Hub Tour and Hangout thought stakeholders that hubs have to be domain specific in other to create value for the kind of target clients or investors expected.

(Watch on YouTube – Hub 101: Starting And Running A Innovation Hub).

Noteworthy Keys to Building a Startup or Innovation Hub;

  • Develop on “Ideas” that solves a niche problem and can scale fast.
  • Startups are innovative solution providers that develop products or services to solve a problem and scale fast to attract investors looking for quick win businesses.
  • Incubation Hubs are where to go to for mentorship and guidance on how to build on your startup business ideas.
  • Innovation Hubs creates workspace and conducive ecosystem to interaction with like minds
  • Angel Investors
  • Mentor-Angel Investors
  • Venture Capitalist
  • Communities for Collaboration
  • Hub Leaders or Managers

There is an investment opportunity for everyone, take your pick and contribute to society as an advocate, a social entrepreneur or a capital gains investor.

Top 5 Factors that Make Startup Succeed (IdeaLab)

  • Ideas (28%)
  • Team / Execution (32%)
  • Business Model ( generate customer revenue) (24%)
  • Funding (14%)
  • Timing (42%) – are consumers really ready for what you are offering

The single biggest reason why start-ups succeed | Bill Gross (Watch on YouTube)


Earthquakes and Tremors in Nigeria

Earthquakes and Tremors in the Nigeria Basin

Recently in Nigeria, a report of a minor tremor earthquake was recorded by the Obafemi Awolowo University monitoring station with a magnitude of 2.6. This earthquake was observed to be associated with the Ifewara-Zungeru Transcurrent Fault Zone system, in South-West Nigeria. The estimated epicentral distance of the tremor was between 108 and 113 km away from the measuring station at OAU Ile-Ife. The epicenter was somewhere along the NW-SE direction of Ile-Ife, Osun State, Nigeria roughly placed close to Omu-Aran in North-Central Kwara State. (3) 

How many incidents have occurred in the last 10 years?

In Nigeria records of earthquakes and tremors in the last 10 years have barely been up to seven (7) as the data below shows. Nigeria has so far recorded over 38 earthquakes and tremors from 1933-01-01 to 2021-07-05. We have collated all data from multiple reliable sources that prove it. Kindly contact us at our email [email protected] for the purchase of data.

Date (year-month-day)Origin timeFelt areasIntensity/magnitudeProbable epicenterLatitudeLongitude
2011-11-050:00:00Abeokuta4.4Close to Abeokuta7.172175153.300487985
2016-08-100:00:00Bayelsa and Rivers states3Igbogene (Ogbogene)5.0355394896.402825827
2016-09-120:00:00Samban Dagi (Sambang Dagi)3Kaduna9.597650378.038932996
2018-09-052:30Abuja, Gitata in Nasarawa3.5Mpape Hills, Abuja9.121852697.485772824
2021-07-0511:11:25Abuja, SW2.6NW-SE direction of Ile-Ife, Osun State, Nigeria roughly placed close to Omu-Aran in North-Central Kwara State.8.2066898585.119414106
10 Years Data on Earthquakes and Tremors in Nigeria

Map Earthquakes and Tremors in the Nigeria Basin

Interactive Maps and Locations and Dates and images

Map of Nigeria showing the study area, the Zungeru-Ifewara fault line

Map of Nigeria showing the study area, the Zungeru-Ifewara fault and some major towns along the fault line.
Map of Nigeria showing the study area, the Zungeru-Ifewara fault, and some major towns along the fault line (view source).

How Prepared Are We in Nigeria for Earthquakes?

What does it mean to be earthquake or tremor prepared, lessons from other countries on earthquakes disaster preparedness means to have the following in place:

  • Monitoring centers located in multiple or specific locations within a country with public access to data reports on predetermined fault zones as presented by Geophysicist and Geophysical surveys.
  • Learn the safe spots in each room of your home. A safe spot may be underneath a sturdy table away from walls or underneath your covers with a pillow over your head if you are already in bed. During an earthquake, most deaths and injuries are caused by collapsing building materials and heavy falling objects.
  • Plan and practice what to do if an earthquake strikes. This will help you easily coordinate when an earthquake occurs.
  • Create an evacuation plan to evacuate a damaged area afterward. Mark where your emergency supply kit (i.e fire extinguishers, food supplies, first-aid package, An ax, shovel, broom, A rope for towing or rescue, Sturdy shoes, hard gloves), locate and turn off switches and values if possible.

How are Earthquakes Measured?

Earthquakes and tremors are measured using Richter Magnitude Scale (shown below)

When should we start getting worried about Earthquakes and Tremors in the Nigeria Basin

First, you need to understand the science of earthquake dictation and prediction. The data capture so far on tremors and earthquakes in Nigeria in comparison to other countries shows that we have had relatively low magnitudes. You can start getting worried when the magnitude goes above 5 on the scale.

Other Potential Natural Disasters

The are many natural disasters and associated health hazards in the world, those that should be of concern to Nigeria are;

  • Flooding 
  • Earthquake 
  • Drought 
  • Volcanic Eruption
  • Landslides or Mudslides
  • Lightning 
  • Extreme Heats
  • Wildfires
  • Tornadoes

Related Resources to Earthquakes and Tremors in the Nigeria Basin

  1. Richter Magnitude Scale?
  2. Preparing for an Earthquake
  3. Nigerian State Records Earth Tremor Measuring 2.6 On Richter Scale
  4. Investigating Earthquake Magnitude By Seismic Signals And Wavelet Transform In Optimal Design
  5. Nigeria authorities dispel earthquake fears after Abuja tremors
  6. A review of earthquake occurrences and observations in Nigeria (pdf download)
  7. Preliminary investigation of earth tremors using total electron content: a case study in parts of Nigeria (VIew Alternate Source)
  8. Preliminary geological evidence for multiple tremors in Kwoi, Central Nigeria
  9. 92 earthquakes and tremors recorded in past 24 hours around Mount Nyiragongo volcano
  10. African Risk Capacity Group and Centre for Disaster Protection seal collaborative deal to improve disaster risk management systems – World – ReliefWeb
  11. Review Of Earthquakes In Nigeria: An Understudied Area
  12. Mechanical Model for Nigerian Intraplate Earth Tremors

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How to secure your smartphone -

How to secure smartphone

How to Secure your Smartphone

How to secure your smartphone from being hacked, requires your understanding of a few simple action points as listed here on this page.

Mobile Phone Security Tips (Don’t get hacked)

How to Secure your smartphone to avoid the greatest threats to mobile security such as Trojan-Downloaders and Trojan-Droppers. The trojan threats are especially common and dangerous given that they have the potential to contain a significantly damaging amount of payloads.

The Safety and Security measure to protect your phone

The Safety and Security measure to protect your phone and data are as follows.

  • installing cybersecurity solutions on their mobile devices, like Kaspersky Total Security
  • Create a strong password on your smartphone
  • Do not trust SMS, most mobile malware uses text messages, so users should never respond to requests for credit card details or other private information.
  • Check your browser for the padlock symbol, indications of ‘HTTPS, the padlock icon in the address bar indicates that the sight is secure when entering personal data.
  • Install apps from reputable sources, like the app stores that are compatible with phones O/S.
  • Popular shopping sites such as Aliexpress, Jumia, Konga, Amazon or eBay have their own mobile applications software.
  • Before installing applications software, you must check to see they are the official apps from the company before you initiate a download. This can be done by checking the developer information and user ratings on the download page.

Associated hashtags

#data #cybersecurity #security #developer #malware #amazon #mobileapplications #safety #like

Related Resources on Secure your Smartphone

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