If you have been trying to know the salary of Accountants in Nigeria, the search is over because in this post we are going to reveal how much accountants earn in Nigeria.
An accountant is someone who is saddled with the responsibilities of calculating, interpreting, analysing, communicating Financial information for decision making. An accountant helps organisations, Government, companies, investors, managers, etc to make some useful decisions by analysing the financial statement.
NOW THE BIG QUESTION
Q: How Much Does Accountants Earn In Nigeria?
The services of an accountant include creating sales and cash flow reports, administering payroll, keeping balance sheets, carrying out billing activities, managing budgets, keeping inventory, filing taxes etc. Accountants are very important in any company, most often the salary earned by an accountant depends on some factors such as the organisation, experience of the accountant, type of accountant and the Qualification of the accountant.
For example a fresh graduate from the University with no experience can earn up to ₦40,000 as a foundation salary, a much slightly experience accountant with up to 3 - 4 years experience can earn up to ₦70,000 intermediate salary while an experienced professional accountant with over 10 years experience is expected to earn above ₦150,000.
Professional accountants with qualification such as ICAN, ANAN or ACCA will earn more salary than an ordinary accountant without a certification.
The Institute of Chartered Accountants of Nigeria (ICAN) and Association Of National Accountants Of Nigeria (ANAN) are the two recognised Professional Accounting bodies in Nigeria that were established by the Acts of Parliament. Although, the Association of Chartered Certified Accountants (ACCA) is giving them a run for their money.
Accountants working for oil companies are among the highest paid accountants in Nigeria.
Below is the estimated monthly salary structure of accountants working for different companies in Nigeria.
Company > Accountant Salary
- ExxonMobil > ₦800,000 - ₦1 Million
- Chevron > ₦600,000 - ₦800,000
- NNPC > ₦190,000 - ₦200,000
- Wemabod Estates > ₦140,000 - ₦160,000
- Freelance Accountant > ₦75,000 - ₦85,000
- Shell > ₦500,000 - ₦600,000
- KPMG > ₦150,000 - ₦165,000
- Diamond Bank > ₦95,000 - ₦105,000
- MTN Nigeria > ₦180,000 - ₦200,000
- P&G > ₦200,000 - ₦250,000
The information on this page is subject to change, figures stated here are only estimates and not 100% accurate.
- The current minimum wage in Nigeria, applicable from 2011 is ₦18,000 per month, exclusive of all deductions, however there is a plan to increase the minimum wage paid to civil servants in Nigeria.
- Most multinational companies pay according to global standards and are among the highest paying companies in Nigeria.
- Figures stated here represent net total amount with tax deductions.
- Low paying companies sometimes bolster their accountant salary with allowances.
- The salary paid to interns and trainees are less than the amount paid to entry level workers.