Top 10 companies in Nigeria that pay the highest salaries

Business Insider Africa presents the list of the top 10 companies in Nigeria that pay the largest salaries.
This list is courtesy of Nairalytics, the research division of Nairametrics.
Nigeria’s human expenditures are expected to reach almost N1 trillion in 2022, up from $900 billion a year prior.

Choosing the right company to work for is a crucial decision that can significantly impact one's career trajectory and overall job satisfaction. While salary is an essential factor in evaluating potential employers, high-paying companies offer numerous benefits beyond the financial rewards.

Every region on the globe can boast of high-paying organizations, albeit, some more than others. Regardless, wherever you find yourself, there are companies that offer far better packages than their competitors and as such require higher levels of performance.

Nigeria, Africa’s largest market is no exception. The country houses numerous companies that professionals aspire to work for owing to the huge rewards. Below is a list of 10 of these companies in 2022, courtesy of a study conducted by Nairalytics, the research division of Nairametrics, where you can find its elaborate methodology, and complete list of 20 companies comparing 2022's salaries to 2021's.

With an emphasis on Nigeria’s human expenditures, which are expected to reach almost N1 trillion in 2022, up from N900 billion a year earlier, the evaluation included roughly 50 firms that are traded on the Nigerian Exchange. In terms of staff strength, the firms reviewed and analyzed in 2022 employed more than 100,000 people.

When it comes to staff size and human costs, banks were in the lead. However, their average compensation per employee throughout the evaluation period was impacted by the growth of the workforce and its implications for salaries.

The businesses split their salary between payroll costs, hiring and training costs, bonuses, and other compensations. Here is a list of the top 10 companies ranked by average salary per staff.

Rank	Companies	Average Salary Per Staff (Millions in Naira )	Staff Strength	Total Salaries (Millions in Naira )
1.	Seplat Energy	38.91	596	23,192.00
2.	TotalEnergies Plc	30.48	429	13,076.55
3.	MTN	26.91	1675	45,080.55
4.	Okomu Oil Palm Plc	26.49	390	10,331.08
5.	Ardova Plc	20.1	168	3,376.83
6.	Nigerian Breweries	19.12	2685	51,338.00
7.	Access Holdings	17.09	6824	116,621.00
8.	Stanbic IBTC	16.95	3008	50,996.00
9.	Geregu Power	16.45	130	2,138.07
10.	Glaxo SmithKline Consumer Nigeria. Plc	15.13	51	771.79