Nigeria's minimum wage was recently raised to ₦70,000 per month in 2024, marking a significant increase from the previous ₦30,000. This new baseline applies to formal employment, though implementation varies across sectors. However, actual entry-level salaries often exceed this minimum, especially in competitive industries.
According to RiseVest’s Cost of Living report, the average monthly salary in Nigeria is about 330,000 NGN, with salaries ranging from 85,700 NGN at the lowest to 500,000 NGN at the highest. For entry-level positions specifically, workers can expect at least ₦70,000 as a starting point for jobs that align with national minimum wage guidelines.
The oil and gas industry stands as Nigeria’s top-paying industry, delivering not only exceptional compensation but also strong opportunities for career growth, global experience, and comprehensive benefits.
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ExxonMobil and Chevron are currently the highest-paying oil & gas companies for graduate entrants, with annual salaries reportedly reaching ₦1,000,000.
ExxonMobil – ₦1,000,000 – ₦2,800,000
Chevron – ₦30,000 – ₦855,000
NLNG – ₦400,000 – ₦800,000
Schlumberger – ₦210,000 – ₦760,000
Shell (SPDC) – ₦748,000
NNPC – ₦500,000 – ₦700,000
Oando – ₦680,000
Mobil Oil Nigeria – ₦500,000
Seplat – ₦300,000 – ₦500,000
Nestoil – ₦400,000 – ₦500,000
Total Oil – ₦300,000
Banking remains one of the most lucrative industries for fresh graduates in Nigeria. The sector offers some of the highest entry-level compensation packages in the country. Standard Chartered Bank leads with an estimated net salary of approximately ₦514,000 per month, making it the highest-paying bank for new graduates. Other competitive options include:
Standard Chartered Bank – ₦514,000
Stanbic IBTC – ₦511,000
Providus Bank – ₦433,000
GTBank – ₦433,000 - ₦325,000
First Bank of Nigeria – ₦420,000
Wema Bank – ₦388,000
United Bank of Africa (UBA) – ₦376,000
Fidelity Bank – ₦360,000
Union Bank – ₦350,000
Sterling Bank – ₦327,000
Nigerian Breweries Plc – ₦350,000
Nigerian Bottling Company (NBC) – ₦160,000
Guinness Nigeria – ₦160,000
Dangote Sugar – ₦150,000
PZ Cussons – ₦145,000
Dangote Cement – ₦140,000
Cadbury Nigeria Plc – ₦130,000
Meristem – ₦100,000
Frigoglass – ₦90,000
Lafarge – ₦90,000
MTN Nigeria – ₦180,000 – ₦250,000
Airtel Nigeria – ₦150,000
Globacom – ₦120,000
KPMG – ₦145,000 - ₦171,000
Deloitte – ₦150,000
PwC – ₦140,000
Although entry-level positions are declining in the tech industry, numerous opportunities remain available for entry-level professionals. Lucrative entry-level tech positions include:
Software Developers: ₦200,000
Data Analysts: ₦158,000 per month
UI/UX Designers: ₦120,000 per month
Cybersecurity Analysts: ₦150,000 per month
DevOps Engineers: ₦200,000 per month
Digital Marketing and Content Creation
Digital Marketers: Average salary of about ₦150,000 per month, rising to ₦500,000 or more with experience.
Content Writers: About ₦80,000 per month, potentially rising to ₦200,000 or more.
Graphic Designers: About ₦150,000 per month, with potential to reach ₦300,000 or more.
Social Media Manager: The salary for an entry-level social media manager is about N160,000 per month.
Sales, Admin, and Customer Service
Sales Representatives: About ₦150,000 per month, with bonuses and incentives for meeting targets
Admin Assistant: The entry-level salary for an administrative assistant in Nigeria is about N100,000 per month
Customer Service Representatives: About ₦90,000 per month, potentially rising to ₦250,000 or more with experience
Entry-level salaries in Nigeria vary widely, and understanding what drives these differences can help you make smarter career decisions. Several key factors play a major role in determining how much you earn when starting.
Location
Cities like Lagos, Abuja, and Port Harcourt offer higher pay due to the increased cost of living and greater demand for skilled workers.
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Education and Certifications
Individuals with certificates or diplomas earn more than high school graduates, while those with Bachelor's degrees earn more than certificate holders. Professional certifications in fields like accounting, IT, or project management can also further boost earning potential.
Industry Selection
Your choice of industry dramatically affects your earning potential. Banking, oil and gas, telecommunications, and technology sectors typically offer the highest entry-level salaries, while education and retail tend to pay less.
Skills and Specialisation
Specialised skills like cybersecurity can lead to salaries of ₦1 million per month at the top end. Even at the entry level, possessing in-demand technical skills can significantly boost your starting salary.
The key to maximising your entry-level earning potential is strategic career planning. Focus on industries with high growth potential, and be willing to learn and adapt continuously. Remember that your first salary is just the beginning. Employees in Nigeria typically observe a salary increase of approximately 8% every 19 months, and with the right skills and performance, you can advance quickly.
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