The top ten highest paying companies per staff in Nigeria as of 2021 is dominated by commercial banks or financial institutions, with MTN, Seplat and Lafarge leading the list, which showed 50 largest companies in the country paid N846.88 billion as salary.
The companies covered in the top ten highest paying companies report released by Nairalytics, are listed entities on the stock market, Nigerian Exchange Limited (NGX), which have their financials and workforce in the publicly domain, excluding private firms.
According to the report, 102,000 staff were paid N846.88 billion as salary in 2021, against the previous year’s N756.38 billion. The top ten was based on the average annual salary.
MTN Nigeria led the top ten list, having paid a total N34.42 billion to 1,699 employees last year, and an average of N20.26 million per employee in 2021. This is higher than the N16.41 million paid in 2020.
Seplat Energy took the second spot with N19.29 million average salary, as the oil and gas company disbursed a total sum of N10.26 billion as salary in 2021 to 532 employees, in contrast to the N8.48 billion expended the previous year.
Lafarge Africa recorded N17.54 million as average annual salary per worker, but paid a total N23.69 billion as salary to its 1,351 employees. A year before, the cement firm had paid a basic salary of N20.29 billion.
Total Energies reported it paid 436 workers N7.55 billion as staff basic salary in 2021, up from N5.81 billion paid to 438 staff in 2020. This put the company’s average staff salary at N17.32 million from N14.72 million disbursed in 2020, taking up the fourth spot on the ranking.
United Capital came in fifth position with N15.05 million average salary per staff in 2021, having paid the sum of N1.55 billion as staff salary, rising from the previous year’s N14.04 million.
Nigerian Exchange Group expended N14.79 million as average salary per staff, to sit in the sixth position. However, the company had reported a total N3.03 billion was spent on 205 staff salary last year.
Nigerian Breweries spent a total N40.5 billion as basic salary for 2,740 staff in 2021, making it average salary per worker N14.72 million – this increased from N9.99 million spent on each employee in 2020, and placed the brewer on the seventh spot.
FBN Holdings was eight on the list after recording N14.21 million as average salary per staff within twelve months of last year, after a total of N116.26 billion was expended for basic staff salary in 2021 for 8,179 employees, having spent about N89.26 billion the previous year.
Stanbic IBTC Holdings was ranked nineth, as it wrote out about N14.18 million as average salary per employee last year, with a sum of N41.06 billion paid as total staff salary in the year under review, down from the N42.18 billion of 2020.
Union Bank completed the top ten highest paying company list having disbursed N30.33 billion to 2,190 employees in 2021 as total salary, bringing its average staff salary to N13.85 million last year, from N13.58 million reported in 2020.
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