Average Salary in Nigeria

Table of Contents

How much does a Nigerian worker earn?

A Nigerian worker gets around 339,000 NGN each month. This paycheck is the average of what Nigerian workers earn.

The maximum monthly earning is 289,510 NGN per month so an average working-class person would make less than $2,000 per year.

Unfortunately, it can be hard to actually live on that salary and provide yourself with all your basic needs because things like healthcare and education are just too expensive for what you’re being paid.

The cost of living in Nigeria will vary depending on where you live but it isn’t likely to be cheap.

Salary by Experience

How does one’s pay grow over time in Nigeria?

In Nigeria, salaries grow faster with experience. In fact, most jobs have an expected salary growth at each stage of a person’s career.

After the first 5 years in a job, average earnings will increase by about 4-10% after that point. This process generally continues until the role reaches the managerial level, which is when it slows down and becomes more steady for people above age 40.

Postgraduate degrees generally translate into higher paychecks as well, especially if they are considered specialized or niche rankings such as MBA or ICBMs.

Industry differences also play a part in determining how much you earn over time since different work cultures should be paid differently accordingly. The Oil and Gas industry for example tends to offer better pay than other industries in Nigeria due to its highly competitive nature.

Comparing Wages By Gender in Nigeria

The Nigerian constitution declares that men and women should be treated with equality. However, the gap between genders is still visible in the workforce today.

One way this is expressed in Nigeria’s workforce is when looking at wages. This shows that men are paid more than women for the same work.

Male workers earn 7% more than female employees in Nigeria on average across all industries. The average wage for Nigerian men is NGN 18,730 (USD 94.6), while women are paid an average of NGN 16,686 (USD 85.5).

Salary by Education in Nigeria

What effect does education have on pay?

Education has long been held to be a top priority on the agenda of any modern society.

In Nigeria, this is no different. However, even with the emphasis placed on education by government and educational institutions, some people who have achieved higher levels of education are not seeing their salaries reflect this.

Nigerian workers with a Bachelor degree earn 4.6% more than those with secondary education and 45.4% more than those who did not complete primary school. Those who have attained postgraduate degrees earn 61.8% more than those with secondary education and 86.1% more than those with no formal schooling at all

Is a Master’s or MBA degree worth it in Nigeria?

It depends. While the average Nigerian worker with an MBA earns more than twice as much as those who have only attained secondary education, this number is misleading due to the large skill gap across different industries.

It boils down to your line of work and what you get out of your degree. Chances are that if you get into the right field and get an MBA, then you’ll see a sizable return on your investment. If not, then it’s likely that you won’t get much out of it other than the paper diploma.

Yearly Salary Raise in Nigeria

Do yearly salary increases in Nigeria? How frequently do workers receive raises?

Employees in Nigeria may expect an 8% pay rise every 19 months. Annual salary reviews can be as infrequent as every 3 years. This is because Nigerian law does not mandate a minimum raise or any pay increase at all.

However, there are guidelines set by the Nigeria Labor Congress and Civil Service rules that determine if salaries will be adjusted.

These guidelines generally require a yearly review of an employee’s responsibilities and duties and likely associated changes to salaries based on added responsibility.

In some companies in Nigeria, raises may occur more frequently than once every 19 months but less frequently than once per year. Sometimes these annual raises will come automatically during performance reviews (if they were not given earlier), and sometimes they will only come when unions negotiate them with employers.

Annual Increase Rate By Industry in Nigeria

Education – 8%
Education – 2%
Hospitality – 5%
Social Services (Non-Profit) – 4%
Food & Beverage – 2%
Construction – 3.5%
Telecommunications – 4%
Transportation – 3.5%
Utilities – 4.8%

Prospering businesses tend to provide more frequent and larger increases. There are exceptions, but in general, a company’s status is directly linked to the country’s or region’s economic situation. These numbers tend to swing.

Average Salary Growth by Experience Level

Nigerian workers have experienced a 10% increase in average salary growth from the previous year.

Junior level workers have experienced a 15% increase in average salary growth from the previous year, while mid-level workers have only experienced a 5% increase in average salary growth from the previous year.

Workers at the senior level are experiencing an 8.3% decrease in average salary growth from the previous year, which made their average salaries 0% lower.

Comparing Bonus Rates by Career Field

What qualifies a job as deserving of signing bonuses and a competitive salary in Nigeria?

There are many jobs that are deserving of signing bonuses and competitive salaries. The effects of the recession have left many individuals without full-time employment, yet there are still qualified job seekers with relevant skills who deserve to be rewarded for their efforts.

New graduates should find it easy to find a job that offers them attractive benefits, combined with prestige and the opportunity to develop themselves in their chosen profession.

In Nigeria, it is customary for job applicants to expect signing bonuses, which are usually given when the person starts their new job. The size of this bonus varies according to field and status in the industry.

Generally speaking, management consultancy jobs in Nigeria offer relatively high signing bonuses compared with other industries. IT professionals also receive high rates of bonuses on average, though this may vary depending on skills and experience levels required by employers.

Medical doctors tend to expect higher salaries than other sectors along with signing bonuses that reflect their qualifications and professional status.

Salaries in architecture start-ups are generally lower than the national median salary due to lower demand for services; however, architects working at large international firms can still expect attractive starting salaries combined with generous benefits including signing bonuses.

Employees who work in the financial sector can also expect relatively high salaries and signing bonuses when they start their new job, especially if they have experience working in corporate finance consulting firms.

The amount of bonus or salary offered by investment banking, private equity and commercial banking organisations is usually dependent on previous experience and client satisfaction

Nigerian Incentive Bonus Rates

How frequently and how much are bonuses given?

Generally, bonuses in Nigeria depend on the nature of the business and the enthusiasm of individual employees.

Employees in large companies may receive one-off incentive payments worth up to a month’s salary which can be paid at any time during or after their employment relationship.

Smaller companies tend to pay more frequently and their employees can expect a bonus which is equivalent to up to three months’ salary, paid every six months or at the end of each financial year.

The size of incentive payments depends on how profitable a company is and whether it is privately or publicly owned. Public companies usually have lower profit margins than private ones and need to offer their employees incentives more often in order to retain key staff.

Salary Comparison: Public vs. Private in Nigeria

In both sectors, public service employees have fixed salaries which are reviewed annually when negotiated by unions before being signed off by the relevant authorities.

Public servants may also be paid allowances such as housing allowance or transport allowance in addition to existing salary benefits in order for them to carry out official duties effectively throughout all parts of Nigeria.

Public sector employees enjoy a considerable advantage over private-sector employees because they have automatic employment benefits upon retirement including severance pay, gratuity, housing fund etc.

The pension benefits are typically the most attractive for employees after retirement at 55 or 60 years of age.

The public-sector income is between 40% to 50% higher than the corresponding private sector job average wages in Nigeria. Besides this, several allowances are attached with jobs in both sectors which attract high loyalty and morale among workers who take up employment there.

Different Types of Bonuses

Bonuses for Individual Performance

These are designed to reward employees for their individual performance. They are given to the employee alone, rather than being shared between employees.

Some of these kinds of bonuses are paid in cash while others are paid in non-cash forms like special time off.

Bonuses for Company Profits

This bonus is a reward for a company’s profitable performance. It is sometimes shared between employees, but it is also very common for the company to keep most or all of this bonus so that it can be used to cover costs and get larger profits in upcoming quarters.

Bonuses Based on Performance

These are designed to reward employees for their performance as a group. They are shared between all of the members of an organization who meet certain requirements.

Holiday / Year-End Bonuses

These are given out at the end of a year or holiday season in order to show appreciation for the excellent work employees has done over the course of an entire year.

Sometimes there is a pool and each employee draws money, and other times it is based on seniority; whichever way these bonuses are handled, it is important that there be no favouritism involved in handing them out.

Bonuses by Seniority in Nigeria

Senior workers in Nigeria receive bigger annual bonuses than junior ones. In other words, a worker’s bonus increases with their years of service.

In the public sector, the number of years that an employee has been in service is referred to as ‘seniority’. Senior staff usually receive a few benefits which include promotions and pay increments over time – while junior workers usually have less chance of promotion, and get a low wage for their first few years on the job.

Also, seniority allows senior employees to be part of what is called “employee benefit schemes.” These schemes provide extra money for underfunded needs such as housing or medical care.

Salary Distribution in Nigeria

Pay Scale

Nigerian salaries start at 85,700 NGN. The Nigerian Bureau of Statistics collects data on salaries and pay scales across a variety of industries.

The highest-paid workers are employed by the oil and gas industry, while the lowest-paid workers work in hospitality or agriculture.

An employee’s salary is based upon either a single hourly rate or a monthly salary for a specific number of hours worked during their contract period. Employees receive paychecks bi-monthly or monthly to compensate for working two weeks out of every month including weekends and holidays.

Hourly employees get paid for any time spent working instead of strictly paying salaried employees for the hours worked in a pay period.

Median Wage

The median monthly wage is 339,000 NGN, which implies that half of the population earns less than 339,000 NGN and the other half earns more. This includes people on salaries, daily wages, and casual labor.

Percentiles

25% of the population earns less than 191,000 NGN whereas 75% earn more. Workers in Nigeria earn more than workers in other, less developed countries. The global average monthly wage is $1,480 (converted to Nigerian NGN).

What’s the difference between the median and average salary?

The median salary is what the person in the middle of a group of people gets paid. The average salary is simply the sum of everyone’s pay divided by how many people are in the group.

Popular Job Salary in Nigeria

Architecture

Architect – 415,000 NGN
CAD Drafter – 165,000 NGN

Banking

Bank Branch Manager – 586,000 NGN
Teller – 120,000 NGN

Business Planning

Business Analyst – 435,000 NGN
Business Development Manager – 521,000 NGN
Project Manager – 412,000 NGN

Corporate Training

Training Manager – 614,000 NGN
HR Training Manager – 555,000 NGN

Customer Care

Customer Service Manager – 435,000 NGN
Call Center Operator – 183,000 NGN

Logistics Operations

Supply Chain Supervisor – 435,000 NGN
Logistics Coordinator – 231,000 NGN

Marketing

Marketing Manager – 521,000 NGN
Media Planner – 498,000 NGN
Public Relations Officer – 657,000 NGN

Purchasing Management

Procurement Specialist – 424,000 NGN
Quality Assurance Analyst – 231,000 NGN

Law

Legal Officer – 769,000 NGN
Legal Adviser – 586,000 NGN

Healthcare Management and Clinical Audit

Clinical Consultants/Medical Advisers – 428 000 NGN per annum
Coding Specialist – 233 500 NGN per annum
Pharmacovigilance Officer – 285 000 NGN per annum
Radiology Information System Assistant I – 138 400NGN per annum

Average Hourly Wage in Nigeria

Nigeria’s average hourly earnings are 1,950 NGN. The average hourly wage is $0.06 for those working in the education industry, while the average hourly wage is $0.12 for those employed by businesses and enterprises.

The average gross monthly wage of a Nigerian worker is 519,300 NGN ($2,300 US dollars), making it one of Africa’s highest-paid countries.

In Nigeria, Education workers make about 1,950 NGN per hour and service employees make about 2,166 NGN per hour. Businesses and Enterprises pay their employees about 2,997 NGN per hour and sales workers make from 3275 to 4185 NGN per hour.