Highest Paying Federal Government Agencies in Nigeria & Salaries (2024)
Are you looking for which federal government agencies or job in Nigeria pay the highest salary? This post covers it all plus the monthly figures you will earn in the federal civil service.
In the 70s, 80s and 90s many young graduates refused to work in government parastatals. They believed that the pay package in these government agencies were poor. This brought about a multiplicity of job openings in those agencies.
Today, the trend has reversed, this is because the increase in the number of universities has brought about a resultant increase in the number of graduates. This has in turn increased the unemployment rate in the country.
Sequel to this, the employment opportunities in the federal government agencies have drastically reduced. It is now very difficult to gain employment into these organisations. The pay package in the federal parastatal is now very juicy. They rank among the highest paying jobs around.
In addition to this, having a regular stream of income and earning pension at old age is very appealing. Just like in the Private sector, the pay package in the federal agencies depends on the sector. As usual, the oil and gas, health, maritime and banking sectors are at the top of the pecking order in terms of the take home salaries.
Most at times, people go searching for employment opportunities in the private sector because of the attractive pay package. In reality, some of the top several government parastatals that pay quite well are hard to gain meaningful jobs especially when you don’t have connections.
Parastatals likes Nigerian National Petroleum Corporation, Central Bank of Nigeria, Bank of Industry, Federal Inland Revenue Service, Safety Agency and Nigerian Maritime Administration are just some whose take home pay is on the high side.
Federal Government parastatals are ostensibly the best option when looking for a job in Nigeria. The reason for this is that the agency guarantees job security and more attractive salaries. From the ministerial works to the jobs in the federal agencies, there are many job openings in the federal sector. Interestingly, most federal government jobs pays a vary high salaries compared to what similar jobs offer in the country.
This article will investigate the best federal government jobs in Nigeria various sectors, and also highlight their respective salaries for this current year.
A job given by the federal government means that you works in the federal ministries assigned. Federal Government jobs are very attractive as it offers one of the best salary to it employees.
A lot of people might be enquiring about the best of these job options, which make an article of this nature to be important.
There are many fields in which the federal government employs it employees. This encompass all working fields that are in their agencies and ministries. Below is a list of some federal government parastatals;
- Asset Management Corporation of Nigeria
- Budget Office of the Federation
- Bureau of Public Enterprises
- National Insurance Commission
- National Pension Commission
- National Planning Commission
- National Sugar Development Council
- Niger Delta Development Commission
- Nigeria Customs Service
- Nigeria Deposit Insurance Corporation
- Nigeria Investment Promotion Commission
- Nigerian Maritime Administration and Safety Agency
- Nigerian Ports Authority
- Securities and Exchange Commission
- Standards Organisation of Nigeria
- Small and Medium Enterprise Development Agency of Nigeria
Consider the above list of federal government agencies if you are looking for a well-paid federal government job. The work available in these places include: banking, military works, medical works, civil work, industrial works, media, and the rest of others.
Without exercising much on this only, let’s outline the best federal government jobs in various sectors of the country.
TOP 10 HIGHEST PAYING FEDERAL JOBS IN NIGERIA (2024)
In this article, we shall highlight the best paying federal government agencies (parastatals) and their average monthly pay package.
#1. NIGERIAN NATIONAL PETROLEUM COMPANY (NNPC)
The NNPC is the agency that pays highest and manages the federal government’s oil and gas dealings within and outside the country. They are the platform for joint venture between the FG and the multinational companies like ExxonMobil, chevron, Agip, Schlumberger, etc.
The Nigerian National Petroleum Corporation (NNPC) was founded on the1st of March 1977 after the successful merger between these two bodies, the Nigerian National Oil Corporation and the Federal Ministry of Mines and Steel.
NNPC are mostly involved in managing and regulating the joint venture between foreign multinational corporations and the Federal Government of Nigeria. Some of these oil companies include Royal Dutch Shell, ExxonMobil, Agip, and Texaco, Total S.A and Chevron.
Saddled with the regulation of the upstream and downstream sectors, they act as a supervisory body in accordance to the law on behalf of the Nigerian Government when it comes to the oil industry.
The headquarters of the NNPC is located at the NNPC Towers in Abuja (FCT) with an international office in London. Although they have zonal offices other major states and cities of the country (Lagos, Kaduna, Port Harcourt and Warri), they are one of the best places to work in Nigeria that pays their staff in Dollars (USD).
At NNPC, interns earn between ₦18,000 to ₦30,000 while entry-level staff earn between ₦180,000 and ₦350,000. Also, for experienced hires and managerial positions, the salary is between ₦500,000 and ₦1,000,0000
It is reported that NNPC is the highest government paid parastatal in Nigeria whose staff goes home with the highest pay package in the country. The salary earned depends on the portfolios. Listed below are the average monthly salaries:
- Interns – ₦31,000 to ₦50,000
- Entry level salary – ₦180,000 to ₦350,000
- Sales manager – ₦300,000 to ₦450,000
- Economist – ₦350,000 to ₦500,000
- Managers – ₦500,000 to ₦1,000,0000
#2. BANK OF INDUSTRY (BOI)
Bank of Industry Limited or BOI is the second best paying federal government parastatals in Nigeria and the largest Development Finance Institution (DFI) operating in Nigeria currently. The bank has ownership of three entities namely; the Ministry of Finance Incorporated (MOFI) Nigeria which has over 94.80% stake, the Central Bank of Nigeria (CBN) having 5.19% stake and private shareholders with 0.01% stake.
BOI is a major parastatal under the Federal Ministry of Industry, Trade and Investment, providing monetary assistance to organizations and entrepreneurs for establishing large, medium and small scale projects whilst expanding and diversifying modern enterprises.
The bank’s objective on financing industrial projects in important sectors of the economy ensures that it promotes youth entrepreneurship, businesses and other projects for the benefit of Nigeria. BOI has a strong rating as one of the few federal government agencies that pay well in Nigeria.
The Bank of Industry are one of the highest paid government owned parastatals in the country. The bank released it annual report in 2016 where in its payroll, over 335 employees were paid their salaries. The average salary per employee is slated at ₦20 million yearly, which is one of the highest in the financial sector for a government-owned entity.
A breakdown of their staff salary also reveals the average monthly salary of some BOI staff we got:
- Analyst – ₦350,000
- Banking officer – ₦570,000
#3. CENTRAL BANK OF NIGERIA (CBN)
The central Bank of Nigeria is one of the top 5 highest paying federal government parastatals. Activities of the CBN is usually kept secret, but nothing is hidden in this technological era.
In Nigeria, the CBN is ranked as the apex monetary authority in the country, saddled with the responsibility of maintaining the external reserves of the country, serving financial adviser to the Federal Government as well as promoting monetary stability and a sound financial environment for the economy.
The central Bank of Nigeria was established by the CBN Act of 1958 but began operations by March 1st, 1959. Gradually, the bank has helped maintain a steady capital reserve for commercial banks operating in Nigeria so as to be financial credible to the banking demands of Nigerians.
At the CBN, entry-level staff earns ₦122, 000 monthly depending on your department or unit assigned. Even though the figure isn’t on the high like other agencies, it is however compensated for in allowances and bonuses given to their employers.
See Average Monthly salary structure of some CBN staff:
- Trainee – ₦50,000
- Entry level staff – ₦120,000
- Loan officer – ₦573,000
- Credit Analyst – ₦647,000
- Branch manager – ₦732,000
#4. NIGERIAN MARITIME ADMINISTRATION AND SAFETY AGENCY (NIMASA)
This is another high paying firm. The staff here carts home decent pay monthly. NIMASA jobs has a very special salary scale.
NIMASA was founded in 2006 and are responsible for regulating the Nigerian shipping industry, the maritime labor and the coastal waters with the Nigerian Navy.
NIMASA staff are also involved with inspections and provides search and rescue services alongside the Navy.
An entry-level staff at NIMASA earns about ₦200,000 to ₦240,000 monthly as salary. The only problem is getting a job within the agency.
#5. NIGERIAN PORTS AUTHORITY (NPA)
The Nigerian Port Authority is also an agency that you can land a high paying federal job In Nigeria today. They go in consonance with the current trend of salary structure in the maritime sector, the NPA staff also enjoys juicy take home pay. Below are some of the monthly remuneration in NPA:
- Counselors – ₦180,000 to ₦200,000 monthly
- Deck Cadet – ₦250,000 to ₦300,000 monthly
- HSE officers – ₦300,000 to ₦400,000 monthly
- Control & instrumentation engineers. – ₦450,000 to ₦600,000 monthly
#6. FEDERAL INLAND REVENUE SERVICE (FIRS)
The Federal Inland Revenue Service (FIRS) is one of the best paying federal government parastatals in Nigeria with a lucrative salary structure. Working at the FIRS is the dream of most graduates and the job security in this agency is guaranteed. Recruitment into the FIRS is mostly secretive due to the nature and modus operandi of the agency.
The FIRS salary for an entry-level staff is starts from ₦120,000 to ₦150,000 per month, while the salary structure for FIRS officer one ranges from ₦170,000 to ₦200,000. Be aware that there is a fixed salary range for various staff levels excluding the allowances at the Federal Inland Revenue Service.
#7. ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)
The Asset Management Corporation of Nigeria salary for an entry-level worker shows why they are listed among the best federal government parastatals paying highest salaries. From what we gathered, the monthly salary for an entry-level staff at AMCON ranges from ₦140,000 to ₦160,000.
#8. NIGERIAN MILITARY
The Nigerian Military or armed forces compromises of the Nigerian Army, Navy, and Airforce respectively. Their various salary structures proves that they are among the best paying federal government agencies in the country. The only disadvantage working in the military is the nature of their job, which requires that you put your life to defend your country.
For example, the highest paid military force is the Nigerian Airforce as a senior officer earns up to ₦140,000 or ₦160,000 as salary, without adding other allowances. In the military, salaries are paid according to ranks. Joining the Nigerian navy as a graduate will see you earn better than a non graduate.
#9. NIGERIAN CUSTOM SERVICE (NCS)
The Nigerian Custom Service or NCS is a paramilitary agency in the country that also pay their officers well. We have provided the Nigerian Custom Service salary structure in case you want to learn more about how they pay their officers.
BEST PAYING SECTORS IN NIGERIA & SALARIES
Though the federal government jobs incorporate many work areas, but there are some sectors that are seen as the best options with respect to the salaries and job description. To give you a guide on making a decision, here is the rundown of the top five best paying sectors in Nigeria, and their respective salaries;
THE OIL AND GAS SECTOR
The Oil and gas is unarguably the most lucrative field in the country. The field is equally the most seek and the best job openings in the country. Jobs offered by the federal government in this sector ranges from intern positions to oil and gas workers and other professionals working in the industry.
The Nigeria National Petroleum Commission (NNPC), is one of the largest government parastatals in the sector. It hires petroleum engineers, mechanical engineers, chemical engineers, etc. to work in the immediate openings. These professionals are offered salaries ranging from ₦187,000 to ₦523,000 per month, and complementing with added-on bonuses. More so, the sales managers in NNPC are offered stipends in the range of ₦286,000 – ₦310,000 per month and for economists – from ₦294,000 to ₦318,000 per month. Other professional jobs are also offered good salaries by this moneyed sector.
BANKING SECTOR
Being one the lucrative sector in the country, there is no doubt that it is the best Federal Government jobs in the country. This kind of work needs skilled professionals to work in the banking sector. This has made the banking industry to be the most preferred for college graduates. College diploma holders can start as a trainee in any of the banks. A federal government job openings by the Central bank of Nigeria pays its trainees ₦43,000 per month. Also, trainees can become bank tellers and start making up to ₦60,000 – ₦80,000 on a monthly basis.
For a more elevated job in the banking sector, a university degree will certainly be needed. This opens you to managerial and accounting positions with an increased salary. Looking at the federal government jobs for graduates, the Bank of Industry (BOI) offers an annual salary of ₦2,880,000 to its analysts and at least ₦5,400,000 to its banking officers which is per year. Additionally, the Central Bank of Nigeria (CBN) which is the most lucrative in the sector, offers ₦8,000,000 to its branch managers. But the CBN jobs openings are very limited, due to that they only have few branches in the country. On the whole, the Central Bank of Nigeria pays entry-level employees with a ₦12,000 threshold promising ₦573,000 per month to loan officers and ₦647,000 to credit analysts (which come to over ₦7M per year).
From this illustration, you can see how the Banking sector is one of the best Federal Government jobs in Nigeria.
THE NIGERIAN MILITARY
The Military, though may be dicey, but it is one of the best paying federal government jobs in Nigeria. Employees in this sector are payed timely, a good sum of money as compensation for the nature of their works. The Military of the Federal Republic of Nigeria is made of the Armed Forces, Air Force, and the Navy.
The salary pay in the Military is based on rank and positions. Employees who get a chance to rise to the rank of Air Vice-Marshal, are offered a huge sum of ₦1,376,343 monthly as salary, with other accompanied benefits. In another place, a Vice Admiral and a Rear Admiral in the Nigerian military are offered a salary that ranges from ₦13M to ₦12M respectively.
On the whole, the position and rank is independent on the salary. The more high the position is, the more pays it accompanies.
HEALTHCARE SECTOR
The Healthcare workers of the Federal Government are not overlooked due to the intricacy of their work discipline. From the Doctor, Nurses, down to the Laboratory workers, they are seen as the live savers of the nation. And because of the importance of the Healthcare workers job, they are readily employed into federal government hospitals and federal agencies like the Nigerian Centre for Disease Control (NCDC), National Emergency Management Agency (NEMA), and the Federal Ministry of Health.
Entry level workers in the federal health sector earn ₦120,000 monthly. At government hospitals, medical officers can earn in the region of ₦180,000 to ₦500,000 per month, while salaries of resident doctors fall between ₦190,000 and ₦280,000. Also, a medical Consultant can earn high as ₦700,000 – 800,000 on a monthly basis.
The Nurses are not excluded in the Healthcare sector, as their work is the most significant here. Nurses can make from ₦80,000 to ₦150,000 at federal government hospitals. Years of experience always influences the salary, as a 2–5 years experienced nurse can get ₦100,000 to ₦180,000 a month. Over 5 years in the profession will have an increased salary up to ₦250,000. Federal Government employed matrons are seen as the highest earners as they collect about ₦400,000 monthly.
ECONOMISTS
Economists work in banking, commercial industries, and as well as in the oil and gas sector. Federal Government jobs for economists are in the Ministry of Finance, the Security Exchange Commission, and the Federal Inland Revenue Service.
An entry level Economist employee in the Federal Inland Revenue Service is welcomed with a salary of ₦120,000 monthly. The following rank will offer a salary starting from ₦167,000 to ₦184,000 on a monthly basis. From this, you can see how the federal government Economist jobs is very lucrative in the country.
CONCLUSION
There are other top paying federal government jobs that pay good salaries to their staff that aren’t listed above. The Nigerian Custom Service, Department of Petroleum Resources, Defense Intelligence Agency, etc are just some of these federal parastatals that pay their workers good salaries. I hope the above information have widened your ideas about the pay packages of some of the highest paying Federal government agencies.
If you really want to settle for a highly paid job in the country, then one of this federal government jobs should be your inclination. This write-up has covered the best Federal Government Jobs that are available in Nigeria, with their respective salaries. This will give you a guide on settling for the best preferred option.
