Salary Structure

Average Salary In Nigeria [In USD and Naira]

In recent times, Nigeria has experienced a significant shift in its economic landscape, particularly in the realm of workers’ wages. The approval of a revised monthly minimum wage of N30,000 by the government has paved the way for positive changes, resulting in a 1% increase in average salaries across the country. In this blog post, we delve into the intricacies of these numbers, shedding light on the average monthly and yearly salaries, hourly wages, and top-paying professions in Nigeria.

Average Monthly and Yearly Salaries in Nigeria

The revised minimum wage sets the baseline at N30,000 per month, totaling N360,000 annually for a full-time worker. When factoring in the diverse employment opportunities and the 1% increase in overall payments, the average salary in Nigeria emerges at approximately N465,843 or 1136 USD per month. Annually, this translates to an average yearly wage of N5,509,116 or 13,634 USD, inclusive of various perks such as housing and transportation.

Calculating the average salary involves considering the minimum and maximum monthly wages, resulting in a median pay of N465,843. This median signifies that half of the working population in Nigeria earns more than this figure, while the other half earns less.

Hourly Wage Calculation

To break down the average hourly wage in Nigeria, we employ the formula Annual Salary/(52 X 5 X 8), revealing an average hourly wage of N2687.56. This indicates that, on average, a worker in Nigeria earns N2687.56 per hour. Of course, individual hourly wages can vary based on career choices and geographic locations.

Top-Paying Professions

For those aspiring to secure high-paying positions, understanding the average salaries in specific professions is crucial. Here is a glimpse into the monthly earnings of some of Nigeria’s top jobs:

  1. Dentists: N1,125,411
  2. CEOs: N994,575
  3. Chief Financial Officers: N936,081
  4. General Managers: N770,397
  5. Sales Managers: N740,441
  6. Hotel Managers: N697,589
  7. Attorneys: N656,320
  8. Human Resources Managers: N630,330
  9. Pharmacists: N534,124
  10. Pilots: N534,658
  11. Project Managers: N490,125
  12. Creative Directors: N456,768
  13. Internal Auditors: N455,859
  14. Journalists: N439,851
  15. Electrical Engineers: N430,983


What is the average salary in Nigeria in 2024?

The average salary in Nigeria in 2024 is approximately 2,000,000 Naira per year, which is roughly 4,400 USD based on an exchange rate of 1 USD = 450 Naira.

How does the average salary in Nigeria compare to other African countries?

Compared to other African countries, Nigeria’s average salary is relatively moderate. Countries like South Africa and Kenya tend to have higher average salaries, while many other countries in West Africa have lower average salaries.

What factors influence the average salary in Nigeria?

The average salary in Nigeria is influenced by several factors, including the industry, level of education, experience, and location. For instance, jobs in Lagos typically offer higher salaries compared to other parts of the country due to the higher cost of living and concentration of businesses.

What are the highest-paying industries in Nigeria?

The highest-paying industries in Nigeria include oil and gas, banking and finance, telecommunications, and information technology. These sectors often offer salaries well above the national average due to their profitability and the demand for skilled professionals.

How does the cost of living in Nigeria affect the average salary?

The cost of living in Nigeria varies significantly by region, with cities like Lagos and Abuja being more expensive than other areas. This higher cost of living often necessitates higher salaries to maintain a reasonable standard of living. Despite the average salary, many Nigerians face financial challenges due to the rising costs of goods and services.


the average salary landscape in Nigeria is evolving, influenced by recent changes in the minimum wage. The figures provided offer valuable insights into the earning potential across various professions. Whether you’re exploring career options, negotiating a salary, or simply curious about the economic dynamics of the country, understanding these averages provides a solid foundation for making informed decisions.

Also Read: Radiographers’ Salaries In Nigeria: See How Much Radiographers Earn

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