Statistics from the Nigerian Exchange (NGX) analysis showed that 20 Nigerian companies paid 44,468 employees N661.62 billion in 2022.
This amount exceeds the N479.66 billion that the same companies gave to 41,501 of their employees the year before (2021).
The companies work in a number of industries, including power & utilities, banking, consumer goods, oil and gas, and telecommunications.
Payroll breakdown for businesses in 2022
Leading energy business Seplat Energy tops the list with an enormous average remuneration per employee of N38.91 million.
TotalEnergies Plc, which pays its employees an average salary of N30.48 million, comes in second place.
The third-place finisher on the list was MTN Nigeria, a major player in the telecom industry, with an average compensation of N26.91 million per employee.
The average payouts from Okomu Oil Palm Plc and Ardova Plc in 2022 of N26.49 million and N20.10 million, respectively, make them stand out.
pay breakdown by industry
| Companies | Staff Salaries for 2022 | Staff Number | Average pay per employee |
| Seplat Energy | N23.19bn | 596 | N38.91m |
| TotalEnergies Plc | N13.07bn | 429 | N30.48m |
| MTN Nigeria | N45.08bn | 1,675 | N26.91 |
| Okomu Oil Palm Plc | N10.33bn | 390 | N26.49m |
| Ardova Plc | N3.37bn | 168 | N20.1m |
| Nigerian Breweries | N51.33bn | 2,685 | N19.12m |
| Access Holdings | N116.62bn | 6,824 | N17.09m |
| Stanbic IBTC | N50.99bn | 3,008 | N16.95m |
| Geregu Power | N2.13bn | 130 | N16.45m |
| Wema Bank | N21.33bn | 1,415 | N15.08m |
| Nestle Nigeria PLC | N34.78bn | 2,320 | N14.99m |
| AXA Mansard Insurance | N4.89bn | 358 | N13.69m |
| Union Bank | N26.72bn | 2,025 | N13.2m |
| Cadbury Nig. Plc | N5.80bn | 480 | N12.08m |
| UBA | N93.24bn | 9,591 | N11.88m |
| Unilever Nigeria | N8.77bn | 786 | N11.16m |
| Conoil Plc | N1.83bn | 168 | N10.9m |
| Zenith Bank | N86.41bn | 8,077 | N10.7m |
| FCMB | N35.61bn | 3,342 | N10.66m |
| Total | N661.62 billion. | 44,468 employees |
Elon Musk demands hard labour and transforms the Twitter office into a “hotel.”
Elon Musk has continued to make changes to Twitter ever since he paid more than $44 billion to purchase control of the company, according to another report.
The most recent upgrade was not to the software but to how Musk envisions Twitter’s offices.
With bedsheets and wardrobes, the renovation turned the workplace into a hotel for workers.
