Nigeria Survey Results Available

Nigeria Survey Results Available

The 2012 Birches Group survey results for Nigeria have been published.  The survey includes 20 leading employers in Lagos and Abuja, as of July, 2012.

Nigeria is a robust economy, showing 7.2% GDP growth in 2011.  In addition to a large oil industry, other major contributors to economic growth include the agriculture, telecom and manufacturing sectors.  Despite this success, however, unemployment remains high (21%).  Nigeria has the eleventh largest labor force in the world (52 million).

Highlights of the Survey Results

  • Total compensation for professionals increased over last year by 10.4%, while support staff roles increased an average of 11.1%.
  • The average total compensation for professional staff is 17,452,746 Naira (about 107,402 USD).  Fixed allowances and in-kind benefits account for over 18% of total compensation, while short-term incentives provide 4.4%.  The magnitude of fixed allowances and in-kind benefits is one of the highest anywhere, and should not be overlooked when setting compensation levels in Nigeria.
  • The package for support staff averages at 4,973,480 Naira (approximately 30,606 USD).  Fixed allowances and in-kind benefits are slightly over 14% of base salary, with incentives of 2.2%.
  • Among the most common allowances and in-kind benefits are vacation bonus; food and beverages; health club membership (for more senior staff); and company cars.  Seventy-five (75%) of employers surveyed offer health insurance for staff, while some employers offered subsidized loans to help address the high cost of consumer credit, which ranges from 20% to 25%.

For More Information

If you need more details about our survey in Nigeria, or would like to purchase the survey report, please contact us.

posted on October 24, 2012 / Featured, Featured Surveys, Recently Published Surveys

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