Highest Paying Companies In Nigeria 2023: Top 13 - Bscholarly (2023)

Top 13 highest paying companies in Nigeria: Different companies pay their workers different amounts of salary. In other words, different institutions have their specific workers salary scale. The pay amounts usually differ, according to position and level an employee occupies in an organization. What a junior staff earns monthly is definitely not going to be higher than what a member of the board of directors earns, as the member of the board of director, holds a higher position than the junior staff.

At times also, a worker may occupy more than one position in an organization, in which case he or she would be paid higher than what they would normally be paid if they occupied only one position. The goal of every staff should be to outdo their previous monthly performance, and surpass the required threshold of performance mandated by every staff. Once the worker surpasses the said threshold, he or she stands a chance for a promotion. When he or she is promoted, the salary increases.

Regardless of workers performance in the company, some companies have better service structure and scale than other companies, hence it rightly follows that the pay higher salaries to their workers. It is a general belief that oil and gas companies pay higher than other companies in other sectors of the economy, and therefore the salaries, bonuses and benefits those companies extend to their workers, cannot match that offered by oil and gas companies. While this may at times may appear, it is subject to debate. That debates however, is not the purpose of this writing.

The purpose of this writing, as seen from the title, is to outline the top ten highest paying companies in Nigeria, in terms of salary. Students graduate from the university every year in Nigeria, and due to the poor standard of living in the country, it is not uncommon to see most of them searching for work at top tier institutions that offer higher pay. With this write up, they can glean the possible companies they can work at. Definitely, starting and building a career in any of them would surely have positive and long term financial effects on the employees, leading to early wealth and fulfillments.

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Top 13 Highest Paying Companies In Nigeria 2023

1. Chevron: Chevron is a leading company in the oil and gas sector. Apart from exploration of oil, Chevron Nigeria also ventures into the manufacturing and sale of petroleum products. Without doubt, they are one of the highest paying oil and gas companies, and company in general, in Nigeria. As a fresh university graduates, the aspiration is to work at an oil company for a better life.

Chevron is a well recognized company in Nigeria, and it offers its employees a lot of benefits like: a huge paycheck, word recognition, and attractive work benefits at the end of the month. Chevron staffs receive about two to twenty five million naira annually, depending on their level, experience and job description.

2. Total: Total is a subsidiary of one of the multinational companies in the oil and gas industry. Total is not a recent establishment, it was established as far back as 1965. Therefore total has had time to grow, develop and expand. Total specializes in marketing petroleum and petrochemical products.

Total is a well recognized company worldwide, and it offers its employees lots of benefits like: a huge paycheck, word recognition, and attractive work benefits at the end of the month. Total’s mid level staffs earn up to one point two million naira per annum.

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3. Nestle: Nestle is one of the biggest food manufacturing companies in Africa. Nestle adequately takes care of its staff, offering them numerous benefits like health insurance, vacation trips, work benefits etc. Nestle is one of the top paying companies in Nigeria.

In Nestle, entry level staff are paid from one million naira two point five million naira a year. Nestle managers also earn up to six point five naira yearly, while their production supervisors earn up to five million naira annually.

4. Shell petroleum development company(SPDC):Shell petroleum development company can also be called shell, and it is no doubt one of the leading companies in the oil and gas industry. Shell petroleum development company has a joint venture with: the Petroleum Nigeria Limited(TEPNG), Nigerian Petroleum Corporation(NNPC), Total Exploration, and the Nigerian Agip Oil Company(NAOC).

In shell petroleum development company, entry level staffs receive close to one point six million naira to six million naira a year. Junior staffs in Shell petroleum development company also received the same range, but both, depend on their position and level.

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5. Exxon Mobil Nigeria: Exxon Mobil Nigeria was established in 1822. Since its inception, the company has ventured into the energy business. Exxon Mobil Nigeria also engages in the exploration of crude oil and natural gas. That is not all, Exxon mobile also engages in the manufacturing of petroleum and petrochemical products.

Exxon Mobil Nigeria transports crude oil and natural gases. ExxonMobil is well known in Nigeria for selling petrochemical and petroleum products. In summary, Exxon mobile operates in two ways: upstream and downstream. By operating upstream, Exxon mobile engages in the exploration of gas and crude oil, and by operating downstream, the company manufacturers and sells petroleum products.

6. The Nigerian civil service: The Nigerian government thrives on the civil service, as the administration of the government is done by the civil servant.. For this reason, the Nigerian civil service can be considered an engine room of the government.

Without the effective contributions of the civil service, no government can actually survive. Hence, there is a need to bountifully reward the civil servants for the work they do in the civil service. According to the national services and wages Commission, a director in the civil service is paid about three hundred thousand naira and above per month, that is close to four million naira annually.

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7. MTN Nigeria: MTN is the most popular communication network in Nigeria. MTN is by far the largest mobile operator in Nigeria. Its influence and impact in information and communication technology is glaring. The work of MTN is to provide cellular network across to Nigerians.

Empty and Nigeria is part of a conglomeration known as the MTN group. MTN group is a South African based telecommunication company, with head office in Johannesburg. MTN Nigeria adequately pays its workers, providing salaries of up to one point two million naira monthly depending on the position and years of experience.

8. KPMG: KPMG is a global network of professional firms. KPMG provides tax, audit and advisory services. It also helps industries and organizations negotiate risk and performance in this dynamic and changing world. KPMG offers its employees lots of benefits like: a huge paycheck and attractive work benefits at the end of the month. KPMG offers up to 1,000,000 naira per month depending on the position and deal of experience.

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9. Central Bank of Nigeria: The Central Bank of Nigeria is the apex regulatory organization of the Nigerian banking and money market. Its Head Office is located in Abuja, and it’s sole is vision to be one of the most efficient and effective of the Central in the world that promotes and sustains economic development. They have a salary /scale that offers up to nine hundred thousand per month depending on the position and years of experience.

10. Procter and Gamble (P&G): Proctor and Gamble is one of the largest Fast Moving Consumer Goods company in the world working with strong brands like Pampers, Ariel, Always, Gillette and Oral B etc.

Proctor and Gamble has existed for one hundred and seventy nine years globally and twenty four years in Nigeria. They have a good salary structure/scale, and offer up to one million naira per month depending on the position and years of experience.

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11. Andela: There is no doubt that Andela is one of the most successful companies in Nigeria currently with its headquarters in New York, USA. The company also has sponsors from other big tech companies like Facebook and many more.

So basically, this company focuses on training and employing talented developers in the country, equipping them with all the requirements necessary to work for big companies outside the company. Simply put, they connect brilliance with opportunities irrespective of race, gender or location.

Unfortunately, there are speculations that their interview process is very difficult. But that notwithstanding, they are still among the highest paying companies in Nigeria currently. This is basically because developers are paid in dollars even when they are supposed to work remotely in Nigeria. The average salary annual of a developer at Andela is ₦2.95 million. That is undoubtedly a huge amount of money.

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12. Seplat Energy: Seplat Energy is a top indigenous oil and gas company in Nigeria. The company was formerly Seplat Petroleum Development Company Plc. Seplat is a product of the partnership arrangement of Shebah Petroleum Development Company (SPDC) and Petroleum Joint Ventures Limited in 2009. Seplat has its asset in Niger Delta.

The company is listed on the Nigerian Stock Exchange and that of London. The company does oil exploration and has developed gas reserves alongside it. Seplat pays an average salary of N19.29 Million. The company has its offices in Ikoyi Lagos, Nigeria and in London.

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13. Lafarge Africa Plc: Larfage is one of the leading cement manufacturing and distribution company in Nigeria and in Africa. The company has its headquarters in Lagos. The company’s associate divisions are WAPCO, AShake Cement, Larfarge South Africa, the United Cement Company of Nigeria in Calabar and Atlas Cement Company. Lafarge Africa Plc is listed on the Nigerian Stock Exchange.

The company is controlled by Holcim Group. It was formerly Lafarge Wapco Plc until the merger which occurred between Lafarge and Holcim in 2014. Lafarge Africa Plc pays an average salary of N17.54 Million on the statistics of N23.69 Billion basic salary paid to 1,351 employees.

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Conclusion

As said earlier, it is generally believed that oil and gas companies pay higher than other companies in other sectors of the economy, hence the salaries, benefits, and bonuses extended by those companies to their workers, cannot match that offered by oil companies. As mentioned above some of these oil companies include: SPDC, Total, Exxon Mobil, Chevron, NNPC, NLNG, etc.

It is notoriously believed that they offer salaries, bonuses and other cash benefits to employees in Nigeria, ranging eight hundred thousand to three million naira monthly. From the above we can see that this is true, and our advice to fresh graduates out there, is to apply to these companies, before all else.