Average Manager Salary in Nigeria for 2024

In this article, we will look at the average Manager salary for 2024 in Nigeria and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Nigerian naira. To keep things simple, we are using the NGN currency code instead of the currency symbol โ‚ฆ.

How Much Does a Manager Make in Nigeria?

A Manager working in Nigeria will typically earn around 6,804,900 NGN per year, and this can range from the lowest average salary of about 3,132,800 NGN to the highest average salary of 10,813,300 NGN.

Average Annual Salary
6,804,900 NGN
Average Monthly Salary
567,075 NGN

Lowest Annual Salary
3,132,800 NGN
Lowest Monthly Salary
261,066 NGN

Highest Annual Salary
10,813,300 NGN
Highest Monthly Salary
901,108 NGN

These are average salaries for a Manager in Nigeria and include benefits such as housing and transport. It's also possible for a Manager to earn more or less than the average salaries shown above.

Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Manager Salaries in Nigeria

So we've looked at the average salaries a Manager will earn in Nigeria. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Manager can earn between 3,132,800 NGN and 10,813,300 NGN on average in Nigeria. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Manager in Nigeria is 7,342,500 NGN. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 7,342,500 NGN, and 50% of the population earn more than 7,342,500 NGN.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Manager salary in Nigeria, 25% of the population are earning less than 4,714,900 NGN while 75% of the population earn more than 4,714,900 NGN.

75% of the population earn less than 9,804,400 NGN, and 25% of the population earn more than 9,804,400 NGN.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Manager Salary by Experience Level in Nigeria

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Manager in Nigeria that has less than two years of experience can expect to earn somewhere in the region of 3,553,500 NGN.
  • 2 - 5 Years Experience. With two to five years of experience the average Manager salary would increase to 4,739,800 NGN.
  • 5 - 10 Years Experience. From five to ten years of experience as a Manager, the average salary would be 7,007,800 NGN.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 8,545,000 NGN.
  • 15 - 20 Years Experience. A Manager with 15 to 20 years of experience can earn an average of 9,311,400 NGN.
  • 20+ Years Experience. For a Manager with more than 20 years, the expected average salary increases to 10,080,900 NGN.

Average Salary by Experience Chart

0-2 Years
3,553,500 NGN
2-5 Years +34%
4,739,800 NGN
5-10 Years +48%
7,007,800 NGN
10-15 Years +22%
8,545,000 NGN
15-20 Years +9%
9,311,400 NGN
20+ Years +8%
10,080,900 NGN

Manager Salary by Education Level in Nigeria

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Manager in Nigeria based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Manager in Nigeria with a high school education can earn an average salary of 4,355,800 NGN.

  • Certificate or Diploma. A Manager in Nigeria with a certificate or diploma education can earn an average salary of 5,123,800 NGN.

  • Bachelor's Degree. A Manager in Nigeria with a bachelor's degree education can earn an average salary of 7,428,600 NGN.

  • Master's Degree. A Manager in Nigeria with a master's degree education can earn an average salary of 9,731,500 NGN.

Average Salary by Education Chart

High School
4,355,800 NGN
Certificate or Diploma +18%
5,123,800 NGN
Bachelor's Degree +45%
7,428,600 NGN
Master's Degree +31%
9,731,500 NGN

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Nigeria is around 1,690,000 to 5,080,000 NGN and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Nigeria, a male manager will earn an average of 7,464,400 NGN, while a female manager will earn around 6,132,900 NGN.

This means that a male manager earns approximately 22% more than a female manager for performing the same job.

Average Salary by Gender Chart in Nigeria

Male
7,464,400 NGN
Female -22%
6,132,900 NGN

Manager Average Pay Raise in Nigeria

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Manager in Nigeria is around 14% every 19 months.

The national average pay raise across all professions and industries in Nigeria is around 8% every 19 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 14 ÷ 19 ) × 12  = 9%

What this means is that a Manager in Nigeria can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in Nigeria for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Nigeria.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Manager Bonus and Incentive Rates in Nigeria

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Manager is a high bonus based job, with 82% of employees reporting at least one bonus in the last 12 months.

18% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
82%
No Bonus
18%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Nigeria earn approximately 6% more than private sector employees in the same role.

Public Sector
4,162,800 NGN
Private Sector -6%
3,934,900 NGN

Salaries for Jobs Similar to a Manager

In the table below, we have salary information for jobs that are similar to a Manager in Nigeria.

Job Title Category Salary
Assistant Business Development Manager Business Planning 5,461,900 NGN
Assistant Merchandise Planner Business Planning 3,061,300 NGN
Business Advisor Business Planning 4,991,200 NGN
Business Analyst Business Planning 5,221,800 NGN
Business Consultant Business Planning 4,883,400 NGN
Business Continuity Associate Business Planning 2,953,200 NGN
Business Developer Business Planning 3,132,800 NGN
Business Development Analyst Business Planning 3,622,400 NGN
Business Development Associate Business Planning 2,543,000 NGN
Business Development Coordinator Business Planning 2,794,600 NGN
Business Development Director Business Planning 6,768,400 NGN
Business Development Engineer Business Planning 3,996,300 NGN
Business Development Executive Business Planning 5,003,800 NGN
Business Development Manager Business Planning 6,251,400 NGN
Business Development Specialist Business Planning 4,570,300 NGN
Business Manager Business Planning 5,833,500 NGN
Business Operations Specialist Business Planning 4,570,300 NGN
Business Process Writer Business Planning 2,698,900 NGN
Business Systems Analyst Business Planning 4,846,300 NGN
Capacity Planner Business Planning 3,553,500 NGN
Capacity Planning Supervisor Business Planning 4,558,700 NGN
Change Communications Analyst Business Planning 4,332,900 NGN
Change Control Analyst Business Planning 4,690,500 NGN
Change Impact Analyst Business Planning 4,548,600 NGN
Contracts Executive Business Planning 4,633,100 NGN
Corporate Strategy Analyst Business Planning 4,931,400 NGN
Cost Control Engineer Business Planning 3,168,300 NGN
Cost Controller Business Planning 3,444,200 NGN
Cost Estimator Business Planning 3,108,200 NGN
Data Executive Business Planning 2,519,500 NGN
Data Manager Business Planning 3,706,100 NGN
Data Processing Manager Business Planning 4,488,100 NGN
Development Researcher Business Planning 3,706,100 NGN
Director of Business Development Business Planning 6,768,400 NGN
Director of Production Planning Business Planning 5,794,900 NGN
Due Diligence Analyst Business Planning 5,172,800 NGN
Estimating Manager Business Planning 5,555,200 NGN
General Manager Business Planning 5,890,200 NGN
Incident Handler Business Planning 3,444,200 NGN
Incident Specialist Business Planning 4,043,600 NGN
Lean Consultant Business Planning 3,733,300 NGN
Marketing and Business Development Manager Business Planning 6,058,300 NGN
Materials Planner Business Planning 2,146,100 NGN
Merchandise Assistant Business Planning 2,146,100 NGN
Merchandise Controller Business Planning 2,052,200 NGN
Merchandise Planner Business Planning 2,065,400 NGN
Operations Analyst Business Planning 4,633,100 NGN
Operations Manager Business Planning 5,376,200 NGN
Operations Research Analyst Business Planning 3,013,500 NGN
Planning and Reporting Manager Business Planning 5,399,900 NGN
Planning Director Business Planning 6,529,400 NGN
Project Administrator Business Planning 3,118,900 NGN
Project Manager Business Planning 4,943,500 NGN
Project Planner Business Planning 3,205,100 NGN
Research Assistant Business Planning 2,662,900 NGN
Research Engineer Business Planning 3,156,400 NGN
Research Officer Business Planning 2,389,200 NGN
Risk Management Specialist Business Planning 4,690,500 NGN
Scholarship Coordinator Business Planning 2,543,000 NGN
Store Planner Business Planning 2,304,300 NGN
Strategy Director Business Planning 7,045,600 NGN
Top Research and Development Executive Business Planning 7,259,000 NGN

Salary Comparison by City

If you want to compare salaries with different cities in Nigeria, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Benin City 5,603,250 NGN
Ibadan 6,168,650 NGN
Kaduna 6,157,500 NGN
Kano 6,678,800 NGN
Lagos 6,588,250 NGN

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Manager Salary in Nigeria for 2024". World Salaries. Accessed on March 29, 2024. https://worldsalaries.com/average-manager-salary-in-nigeria/.

  • "Average Manager Salary in Nigeria for 2024". World Salaries, https://worldsalaries.com/average-manager-salary-in-nigeria/. Accessed 29 March, 2024

  • Average Manager Salary in Nigeria for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-manager-salary-in-nigeria/.