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The short answer
Start from what you need to receive in pounds, then work outwards: gross up for any Nigerian withholding tax (PwC gives 10% on professional fees paid to non-residents, so a £2,000 net fee becomes £2,222.22 gross), add a buffer for transfer costs, and show the client a naira equivalent at a stated rate that is valid for a set number of days. Label the naira figure as an illustration and invoice in the currency you agreed.
Nigerian clients often ask a UK freelancer "how much in naira?" They are budgeting in naira, and a pound figure tells them little. You, meanwhile, pay rent in pounds. A good quote serves both: a firm pound price for you, a clear naira equivalent for them, and terms that stop the exchange rate eating your margin between quote and payment. This worked example walks through it with labelled, made-up figures.
Step 1: decide what you must receive
Work out the amount you need in your UK account for the job: your day rate times the days, plus any direct costs. In this example, Ade, a UK-based data analyst, scopes a dashboard project at 8 days at £250 a day.
- Target net fee (example)
- 8 days x £250 = £2,000
- Currency of quote
- Pounds, with a naira illustration
Step 2: gross up for Nigerian withholding tax
If the client is a Nigerian company, it may deduct withholding tax before paying. PwC's Nigeria summary (reviewed May 2026) gives 10% on consultancy, technical, management and professional fees paid to non-residents. The UK-Nigeria treaty may limit Nigeria's right to tax a UK resident's independent services (Article 14), but clients often deduct anyway, so price for it unless the client confirms it will not deduct.
To net £2,000 after a 10% deduction, divide by 0.9, not multiply by 1.1:
| Calculation (example) | Amount |
|---|---|
| Gross fee = £2,000 / 0.90 | £2,222.22 |
| WHT at 10% of gross | £222.22 |
| Net received | £2,000.00 |
| Wrong method: £2,000 x 1.10 = £2,200, less 10% WHT (£220) | £1,980.00 net, £20 short |
Alternatively, state in the contract that fees are payable in full with no deduction, or that the client provides WHT receipts so you can claim credit in the UK. See Nigerian WHT on a UK invoice.
Step 3: allow for transfer costs
Money crossing from Nigeria to the UK can lose value to transfer fees, intermediary bank charges and the exchange margin on whichever side converts. Ask the client how they will pay, then check the costs on that provider's own page. In this example Ade adds a 2% buffer, a figure chosen for illustration, not a quoted fee.
| Build-up (example) | Amount |
|---|---|
| Gross fee before buffer | £2,222.22 |
| Transfer buffer at 2% (illustrative) | £44.44 |
| Quoted fee | £2,266.66, rounded to £2,270 |
Step 4: show a naira equivalent, with a validity window
Give the client a naira figure for budgeting, clearly marked as an illustration at a stated rate. Use a rate you can point to on the day you quote and say how long it holds. In this example only, Ade uses an illustrative rate of ₦2,000 to £1. This is not a real or current rate; check today's rate before quoting.
| Quote line (example) | Figure |
|---|---|
| Fee | £2,270 |
| Naira equivalent at illustrative ₦2,000 per £1 | ₦4,540,000 |
| Rate valid for | 7 days from the quote date |
| After 7 days | Naira figure recalculated at the day's rate; pound fee unchanged |
Check the sum: £2,270 x 2,000 = ₦4,540,000. If the client wants a fixed naira price instead, you carry the exchange risk, so either shorten the payment terms or add a margin for it. Whichever you choose, put the rate, its source and the date in the quote itself, so there is no argument later about which rate applied.
Step 5: payment terms that protect the price
- Deposit: for example 40% before work starts (£908 on a £2,270 fee), balance on delivery.
- Due date: a fixed number of days from invoice, not "on approval".
- Currency: the invoice currency is the contract currency. If paid in naira, the naira amount is set at the day's rate on the payment date or a rate fixed in the contract.
- Late payment: statutory interest under the UK's late payment law may not apply to a contract governed by foreign law (Late Payment of Commercial Debts (Interest) Act 1998, s.12), so write your own late-payment term.
Check the deposit sum: 40% of £2,270 = £908, leaving a balance of £1,362. Our guide to deposits from Nigerian clients has more on structuring them.
Step 6: remember UK tax
The £2,000 Ade receives is not all his. If he is UK resident, it is self-employment income taxed in the UK, and he may be able to credit any Nigerian WHT against UK tax on the same income. Setting aside a share of each payment for the tax bill avoids a January shock. For pricing in Nigerian terms from the client's side, pricing in dollars or naira on our Nigeria site explains how Nigerian freelancers think about it.
Where Pryme fits
With a Pryme Business Account a Nigerian client can pay you in naira or pounds, and you decide when to convert after seeing the rate and the fee. Invoices can show both the pound fee and the naira figure you quoted.
Questions people ask
How do I gross up a fee for 10% Nigerian WHT?
Divide the net amount you want by 0.9. To receive £2,000, invoice £2,222.22; 10% WHT is £222.22.
Should I quote Nigerian clients in naira?
You can show a naira equivalent for budgeting, but a pound price keeps the exchange risk with the client. If you quote a fixed naira price, shorten payment terms or add a margin.
How long should my naira quote be valid?
That is your choice. The example uses 7 days, after which the naira figure is recalculated and the pound fee stays the same.
Can I charge late payment interest to a Nigerian client?
UK statutory interest may not apply if the contract is governed by foreign law (1998 Act s.12). Put a late-payment clause in your contract.
Sources
- PwC Tax Summaries: Nigeria, corporate withholding taxes (reviewed 29 May 2026) · accessed Oct 2026
- UK-Nigeria Double Taxation Convention (1987), in-force text · accessed Oct 2026
- legislation.gov.uk: Late Payment of Commercial Debts (Interest) Act 1998, section 12 · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.