Unless you are lucky enough to own a business or have other sources of income, a salary is often the only money you are getting. Besides the minimum wage, there are not a lot of ways to regulate in Nigeria, which is why the range of salaries can vary greatly based on the region, position, industry, and other factors. Here is the average salary in Nigeria for 2021.
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1. Average salary in Nigeria 2021
According to the latest survey of Nigerian employees, the average monthly salary in the country, regardless of the industry, rank, and job experience, is ₦339,000 per month, or ₦4.06 million per year. There is no definitive way to say whether this salary is sufficient because the situation and lifestyle in each family are different. Converted to international currency, ₦339,000 is almost $900, which is not that bad and probably actually more than you believed the average Nigerian salary to be.
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In the same survey, the minimum wage and the highest average wage were also calculated. The survey said that the highest average wage is ₦1.51 million per month, although it can be even higher for certain individuals. The minimum wage this year is ₦85,700 per month for a full-time position.
2. Salary statistics in Nigeria
In addition to calculating the average, minimum, and highest salary in 2021 in Nigeria, the same survey also brought us a few other interesting facts about the job market in the country. Here are some of the most vital salary statistics to know about:
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- 25% of workers in Nigeria make less than ₦191,000 per month.
- 50% of workers in Nigeria make less than ₦339,999 per month.
- 25% of workers in Nigeria make more than ₦925,000 per month.
- The distribution of salaries between the amount of job experience and level of education is exactly how you think: people with school education make the least money while people with university degrees have the highest salaries. The same goes for job experience: the more you have, the more money you’ll make.
3. Who makes the most money in Nigeria?
It’s probably not going to be surprising to you that different occupations have different average salaries and there are jobs that pay remarkably better than the others. Here are the 10 best-paying jobs with average salaries in Nigeria right now to consider if you want to switch professions or obtain a new degree:
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- Accountant – ₦130,000;
- Software developer – ₦160,000;
- Dentist – ₦200,000;
- Investment banker – ₦210,000;
- Pilot – ₦220,000;
- Sailor – ₦270,000;
- Petroleum engineer – ₦300,000;
- Project manager – ₦320,000;
- Aeronautical engineer – ₦420,000;
- Surgeon – ₦430,000.
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