Top 9 Highest Paying Companies in Nigeria – Are you in search of the most lucrative companies in Nigeria? Look no further. We’ve compiled a list of companies where you can expect generous compensation packages.
Nigeria boasts a thriving economy and a vast workforce, leading to numerous companies in the country offering substantial salaries to their staff.
From oil-producing firms to banking institutions, these companies are providing competitive salaries and perks to draw in top-notch talent.
Whether you’re actively job hunting for your next career leap or just intrigued by the Nigerian job landscape, continue reading to unveil the companies setting the benchmark for pay and perks.
Top 9 Highest Paying Companies in Nigeria 2024
Listed below are the highest paying companies in Nigeria;
- TotalEnergies Plc
- MTN Nigeria
- Nigerian National Petroleum Corporation (NNPC)
- Seplat Energy
- Okomu Oil Palm Plc
- Access Holding
- Ardova Plc
- Dangote Group
- Nigeria Breweries
TotalEnergies Plc
TotalEnergies Plc, formerly recognized as Total E&P Nigeria Limited, operates as an oil and gas exploration and production firm with its headquarters situated in Lagos, Nigeria. It functions as a subsidiary of TotalEnergies, a renowned French multinational energy corporation.
During the fiscal year 2022, TotalEnergies Plc witnessed a notable surge in its salary expenditure, experiencing a 12.02% increase from N8.71 billion to N9.76 billion. This elevation positions the company as the second most generous in terms of compensation within Nigeria.
The mean annual staff remuneration at TotalEnergies Plc stands at N3.5 million. A significant proportion of the company’s workforce enjoys salaries that rank among the highest within the organization.
MTN Nigeria
MTN Nigeria is a subsidiary of the South African multinational telecommunications group. It is the largest mobile network operator in Nigeria. The company has over 70 million subscribers and employs over 1,600 people.
A total of N33.93 billion was spent on salaries by MTN Nigeria employees in 2022. It is estimated that 1,070 employees earned an average annual salary of N12.5 million or more (Source: Nairametric)
Nigerian National Petroleum Corporation (NNPC)
The Nigerian National Petroleum Corporation (NNPC) is the state-owned oil corporation of Nigeria. It is one of the largest oil and gas companies in Nigeria and is known for offering competitive salaries to its employees. NNPC is responsible for the exploration, production, and distribution of petroleum products in Nigeria.
If you’re interested in a career in the oil and gas industry, NNPC is definitely a company to consider.
Seplat Energy
Seplat Energy, a distinguished Nigerian independent oil and gas exploration and production entity, has garnered recognition as the country’s top-paying Companies.
The average staff compensation at Seplat Energy indicates that the majority of employees earn more than N14.69 million annually, amounting to an average monthly take-home pay of N1.22 million.
Over the years, Seplat Energy has witnessed an expansion in its workforce. In 2022 alone, the company experienced a 12% increase in staff numbers, reaching a total of 596 employees.
According to research conducted by Glassdoor, the average annual salary for a graduate trainee at Seplat Energy stands at NGN 7 million, translating to a monthly income of 583,000.
Okomu Oil Palm Plc
Okomu Oil Palm Plc is a leading producer of palm oil and rubber in Nigeria. The company have a staff strength of about 390 people.
In 2022, Okomu Oil Palm Plc spent N45.08 billion on salaries. This represents a 10% increase from the previous year. The average salary at Okomu Oil Palm Plc is N26 million per.
Access Holding
Access Holding, a Nigerian conglomerate with interests spanning banking, insurance, telecommunications, and real estate, stands out as the sole banking entity featured in the top-five roster of highest paying companies.
The average annual salary at Access Holding amounts to N10 million. Notably, the top decile of earners within the company command salaries exceeding N18 million annually.
In 2022, Access Holding allocated N105.6 billion towards salary expenditures. Detailed scrutiny revealed that approximately 10% of its workforce earns N18 million or more per annum, with this segment predominantly composed of senior executives and managers.
Ardova Plc
Ardova Plc is an integrated energy company that was created in 2019 through the merger of Forte Oil Plc and Conoil Plc
With a staff strength of 168 employees, the average staff member at Ardova Plc earns around 20 million Naira per year.
A total of 3.3 billion Naira was allocated to salaries by the company in 2022. Approximately 10% of the company’s employees earn more than N25 million annually.
Dangote Group
The Dangote Group is a Nigerian conglomerate that is owned by Aliko Dangote, who is the richest person in Africa. The company is involved in a wide range of industries, including cement, sugar, salt, and flour. The Dangote Group is known for offering competitive salaries to its employees and is one of the largest employers in Nigeria.
If you’re interested in a career in any of the industries that the Dangote Group operates in, it’s definitely a company to consider.
Nigeria Breweries
Established in 1945 by a consortium of British entrepreneurs, Nigerian Breweries emerged as Nigeria’s pioneer brewery, swiftly ascending to the forefront of the nation’s beer production landscape.
In 2022, Nigerian Breweries allocated N38.76 billion towards employee salaries, marking a 10% rise from the preceding year. Additionally, the company invested N1.3 billion in shared-based payments, N2.15 billion in training and recruitment, N1.06 billion in medical expenses, and N3.66 billion in miscellaneous personnel outlays.
An initial examination of the firm’s financial records revealed that a substantial 84.7% of its workforce earns salaries exceeding N5 million.
Conclusion
In conclusion, The leading seven highest-paying firms in Nigeria are renowned for providing lucrative compensation and comprehensive benefits packages aimed at attracting and retaining top-tier professionals.
In tandem with substantial salaries, these companies often extend additional advantages including health insurance coverage, pension schemes, and adaptable work schedules.
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