Average Wage In Nigeria 2017: Details and Analysis
Every year, Nigerian universities release thousands of graduates, adding to the pool of unemployed graduates in the country. Lots of advice come from parents and professionals to these graduates. Graduates are encouraged to make themselves self-employed, rather than seeking a job. Self-employment is not only a good solution to the problem of unemployment, it is also a good solution to other problems faced by salary earners in the country.
It is unfortunate that a lot of fresh graduates and undergraduates do not know that the average wage in Nigeria is very low. In response to the lack of knowledge, this article was put up to educate the public on the average wage in Nigeria. In this article, we will make the comparison of the average wage in Nigeria with those of some countries of the world. Furthermore, we will discuss the general average wage of workers, then we move to the average wages of some specific professionals.
Comparison of Average Wage in Nigeria
As stated above, the average salary in Nigeria is very low, when compared with those of some non-African and African countries. Argentina which is officially known as the Argentine Republic is a North American country. It is the largest Spanish-speaking country in the world. It is also the second largest Latin American country in the world and the eight largest countries in the world. This country shares its border with a good number of countries, namely: Chile, Bolivia, Paraguay, Brazil, and Uruguay. In addition to sharing the border with countries of the world, Argentina also shares its border with the Atlantic Ocean. Argentina has an average wage of $6,370. Converting $6,370 to Naira, the country has an average wage of about N2,293,200.
Brazil is the largest Latin America country, and also the largest South America country. The country, officially known as the Federative Republic of Brazil, spans 3.2 million square miles, an equivalent of 8.5 million kilometer square. Its land mass makes it the fifth-largest country in the world. This country is populated with over 208 million persons. By population, the capital of Brazil, Sao Paulo, is the largest city in the world. The average wage in Brazil is $3,660 — this is about N1,317,600.
Estonia, also known as the Republic of Estonia, is a country in Europe. This country lies within the Baltic region, in the Northern part of Europe. The country is surrounded by the Gulf of Finland, Baltic Sea, Latvia, Lake Peipus and Russia Federation. The European country has a population of about 1,352,320 persons, according to a 2017 report. The average wage in this country is $6,534. When $6,534 is converted to Naira, the result is N2,352,240.
Gabon, better known as the Gabonese Republic, is an African country located in central part of the continent. Just like Nigeria, this country is very rich in oil. The country has an area of 270,000 square kilometers, approximately 100,000 square miles. It has an approximate population of 2 million persons. Places sharing border with Gabon, include Equatorial Guinea, Cameroon, Republic of Congo and the Gulf of Guinea. This country has an average wage of $3,043, N1,095,480.
Here comes Nigeria, well-known as the (sleeping) giant of Africa. The country which is officially known as the Federal Republic of Nigeria is the most populous country in Africa. In the world, this country is the seventh most populous country. Places with which it shares its border include Chad, Cameroon, Niger, Gulf of Guinea, and the Atlantic Ocean. Nigeria is a country that is very rich in oil, and a home to over 186 million persons. Sadly, Nigeria’s average wage is $60, when converted to Naira, it is N21,600.
Monthly Wage of Entry Workers in Some Sectors
We have discussed the average wage in Nigeria, taking all citizens of the country into consideration. Now, we want to examine the monthly salary taken home by entry-level workers in some sectors of the country. In the country, we have a good number of people working for print media. Entry workers of print media generally take home a wage between N15,000 and N30,000. Information on entry-level hotel workers is another thing we have. The average monthly salary received by entry-level hotel workers is between N30,000 and N50,000.
Entry-level workers in the banking and health sectors get paid a monthly salary between N50,000 and N70,000. People working in the telecommunication industry are one of the highest paid workers in the country. Entry-level workers in the telecommunication industry, earn between N70,000 and N100,000, on a monthly basis. Above telecommunication sector workers, are oil sector workers. Workers in the oil sector make between N100,000 and N130,000 on a monthly basis.
Yearly Wage of Some Specific Professionals
We have just concluded a discussion on how much entry-level workers in some sectors get paid, it is now time to discuss the wage of some professionals. Web developers are software engineers that develop web applications and traditional websites. These professionals have an average yearly wage of $10,500. In Naira, $10,500 is about N3,780,000. Electronics engineers are engineers trained to develop electronic devices. We have a lot of electronic engineers in the country, and this profession has been in the country for quite a long time. The average yearly wage of these engineers is $18,434, an approximate equivalent of N6,636,240.
Accountants are also popular professionals in the country. In Nigeria, the average yearly wage of these professionals is $11,635. In Naira, $11,635 is N4,188,600. In Nigeria, the average yearly wage of mechanical engineers is $13,500. When converted to Naira, mechanical engineers average yearly wage is about N4,860,000. We also have data on project managers in the construction industry. In the construction industry, project managers get paid an average of $45,000 on a yearly basis. This is almost the same as N16,200,000 per year.
That’s all on Average Wage In Nigeria 2017.
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