The average salary of companies in different sectors (whether public or private) in Nigeria is simply the amount that a worker should expect to receive in that sector.
The average salary doesn’t mean the minimum or maximum salary paid by that sector. It tends to be higher than the minimum wage and lower than the maximum payable amount.
In Nigeria, the minimum wage is pegged at an amount which, to many, is not enough to cover their monthly expenses. Although there have been efforts to increase this meagre amount to something suitable, the minimum wage still remains static.
To get accurate figures for the average salary of organizations in different sectors in Nigeria, you will have to consider the minimum wages of each company in these sectors.
It is for a fact that some companies pay higher than the minimum wage but they do this only for their full-time staff (who are also entitled to bonuses and allowances) while their contract staff have to take pays closer to the minimum wage.
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Average Salary Scale in Nigeria
The average salary in Nigeria is quite difficult to calculate as it would include all sectors and the salaries of both skilled and unskilled workers.
The salary of unskilled workers who perform menial jobs in any sector would normally start at the minimum wage. However, that of fresh graduates would begin at about N44,000 per month. This is the actual salary structure the Nigerian Civil Service works with.
In this article, I am going to focus on the average salary of graduate workers in Nigeria.
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Average Monthly Salary in Nigeria
With a minimum wage of N44,000 and a maximum wage of N5,000,000, the average monthly salary value is pegged at N300,000 monthly.
Average Hourly Wage in Nigeria
This is not as important as the monthly wage as most Nigerians are paid on a monthly basis and based on their monthly output rather than the amount of work they are able to do in an hour.
The average wage per hour in Nigeria is N2,651. This is the amount a worker should expect to receive in an hour. In the USA, you would be paid on an hourly basis. In Nigeria, the amount is accumulated and paid on a monthly basis.
Average Monthly Salary by Job Category
This differs greatly from one category to another due to some factors. These factors include the job specifications, the professional skills required, the location of the job, the type of company and the job category itself.
The average salary of some job categories is quite attractive while others are just manageable.
For example, the average salary for administration/event management is N160,000 monthly. This figure is peanut compared to the average salary of an insurance worker which is pegged at N1,450,000 per month.
Financial and medical institutions tend to have the highest average salaries in Nigeria while administrative positions tend to have the lowest average salaries.
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