10+ career opportunities in commerce in Nigeria to consider before you study this course
Career opportunities in commerce include accounting, auditing, banking, marketing, management, insurance, and business management and strategy, all of which are among the highest-paying careers in Nigeria. For prospective candidates deciding whether to join the field, monthly salaries range between ₦200,000 and ₦1 million.
Source: Facebook
TABLE OF CONTENTS
Key takeaways
- Commerce graduates in Nigeria can work as chartered accountants, CPAs, tax consultants, financial analysts, investment bankers, actuaries, or business consultants.
- The highest-paying commerce careers in Nigeria are actuarial science, investment banking, and chartered accountancy.
- Professional certifications such as ICAN, ACCA, CIBN, and CIM are what separate average earners from top earners in every commercial field.
- Entry-level commerce graduates earn between ₦100,000 and ₦350,000, while senior professionals with the right certifications can earn up to ₦24 million.
Career opportunities in commerce in Nigeria
Qualifications in commerce can be attained by getting university degrees, national diplomas, and professional certifications. The salary figures are based on data from PayScale, MySalaryScale, and Glassdoor at the time of writing. Have a look at some popular career opportunities in business in Nigeria and their average salaries.
1. Chartered accountant
Source: Twitter
A chartered consultant manages the financial health of an organisation by preparing and auditing financial statements, advising on tax strategy, and ensuring compliance according to Nigeria's financial regulations.
To become a chartered accountant in Nigeria, you need academic qualifications from Nigerian universities and professional certifications from the Institute of Chartered Certified Accountants of Nigeria (ICAN) or the Association of Chartered Certified Accountants (ACCA).
Monthly salary range | ₦112,000–₦8 million |
Average salary | ₦1.8 million |
Where to work | Banks, audit firms, oil and gas companies, government agencies, and manufacturing firms |
2. Tax consultant
Source: Twitter
A tax consultant helps individuals and businesses stay compliant with the Nigerian tax obligations at the federal and state levels.
Aspiring candidates can become tax consultants by obtaining certification from the Chartered Institute of Taxation of Nigeria (CITN). The CITN Tax Academy offers physical and self-directed lessons for certificates, diplomas, and executive diplomas.
Monthly salary range | ₦150,000–₦8 million |
Average salary | ₦238,000 |
Where to work | Tax consulting firms, law firms, and in-house corporate tax departments |
3. Auditor
Source: Twitter
An auditor examines financial records to confirm accuracy and compliance with Nigerian regulations. They can work as external auditors, reviewing client accounts independently, or be employed directly by organisations to evaluate risk exposure, test internal compliance, and flag inconsistencies.
To become an auditor in Nigeria, you need a bachelor’s degree in accounting, banking and finance, or business administration, followed by certification from professional bodies. Professional certifications include ACCA, ICAN, and CISA (Certified Information Systems Auditor).
Monthly salary range | ₦162,000–₦10 million |
Average salary | ₦1.5 million |
Where to work | Audit firms, commercial banks, listed companies, and government parastatals |
4. Investment banker
Source: Twitter
Investment bankers work to help individuals, corporations, governments, and institutions raise capital through investments. They advise mergers, acquisitions, and the issuance of stocks and bonds.
Commerce and economics graduates can break into investment banking through professional certifications. These certifications, which include Chartered Financial Analyst (CFA) and Associate Chartered Accountant (ACA), can be attained even without a degree. Nigerians can take advantage of the CFA Access Scholarship, which is a needs-based financial award.
Monthly salary range | ₦500,000–₦13 million |
Average salary | ₦2 million |
Where to work | Investment banks, merchant banks, private equity firms, asset management companies, and capital market operators |
5. Financial analyst
Source: Twitter
A financial analyst evaluates investment opportunities, monitors market trends, and produces reports that guide business and investment decisions. To become a financial analyst, you need to earn a commerce degree and build proficiency in data analysis, financial modelling, and software through internships and certifications from CFA and AFAN (Association of Financial Analysts of Nigeria).
Monthly salary range | ₦400,000–₦900,000 |
Average salary | ₦1 million |
Where to work | Banks, stockbroker firms, asset management companies, and corporate finance departments |
6. Treasury analyst
Source: Twitter
A treasury analyst manages an institution's cash operations, liquidity, and financial risks. They predict cash flow trends, ensuring adequate funding for future operations. They also help handle bank relationships and execute foreign exchange transactions.
To become a treasury analyst, you need to get a commerce degree in finance, accounting, or economics. Additional technical skills for this role include proficiency in Excel and treasury management systems (TMS) or ERP software such as SAP or Oracle.
Monthly salary range | ₦75,000–₦525,000 |
Average salary | ₦256,000 |
Where to work | Central Bank of Nigeria, commercial banks, insurance companies, and oil and gas firms |
7. Business manager
Source: Facebook
A business manager often oversees the performance of a company's business unit, such as a department or product line. They are responsible for helping companies hit targets, allocate resources, craft, and share performance with senior leadership. Business managers may also manage personnel in small establishments.
Business managers often have a degree in a commerce field, with an additional diploma or certificate in leadership and management for senior roles.
Monthly salary range | ₦189,000–₦2.4 million |
Average salary | ₦396,000 |
Where to work | FMCG companies, financial institutions, telecoms, and retail chains |
8. Product manager
Source: Twitter
Product managers often coordinate product development in tech and fintech companies. They coordinate product engineers, designers, and marketers, ultimately ensuring a product performs well in the market.
Companies such as tech startups in Nigeria, like Flutterwave, Paystack, Kuda, and PiggyVest, regularly hire commerce and business graduates into product management roles.
Monthly salary range | ₦49,000–₦15 million |
Average salary | ₦343,000 |
Where to work | Fintech companies, telecoms, and commercial banks |
9. Marketing manager
Source: Twitter
Marketing managers in Nigeria particularly work within the fast-moving consumer goods (FMCG) and telecommunications sectors.
To excel as a marketing manager, you need to gain expertise in digital marketing strategy, ROI analysis, team leadership, and consumer data analysis. Online digital certifications from Google Digital Skills, HubSpot Academy, or Meta Blueprint offer the needed technical skills for this role.
Monthly salary range | ₦36,000–₦5 million |
Average salary | ₦1.2 million |
Where to work | FMCG companies, telecoms, banks, and advertising agencies |
10. Digital marketing specialist
Source: Facebook
Today, brands need digital marketing specialists to help manage their online presence across social media channels. In Nigeria, they help create a digital footprint for these businesses.
This is also one of the career opportunities in technology in Nigeria that commerce specialists regularly earn in dollars by working remotely with international clients.
Monthly salary range | ₦1 million–₦3.1 million |
Average salary | ₦1.6 million |
Where to work | Digital agencies, media organisations, fintech firms, and freelancers |
11. Actuary
Source: Twitter
Actuaries use statistics, probability, and financial modelling to assess risk. They help companies determine how likely a loss is, how severe it could be, and how much it should cost to insure against it.
To become a qualified actuary, you are required to pass a series of examinations from the Society of Actuaries (SOA) or the Institute and Faculty of Actuaries (IFoA). In Nigeria, actuaries can join the Nigerian Actuarial Society by having the following;
- At least four examination credits within the professional actuarial course programme
- The CAA global certificate
- Associate status from an international actuarial professional body.
- Fellow status from an international actuarial body.
Monthly salary range | ₦105,000–₦9 million |
Average salary | ₦441,000 |
Where to work | Insurance companies, pension fund administrators, investment banks, and consulting firms |
12. Risk manager
Source: Twitter
A skilled risk manager identifies possible threats to a company's operations. They also help develop and implement preventive measures to reduce those threats.
In Nigeria, risk management is a CBN-regulated function, which means every commercial bank must maintain a qualified risk team. You can become a risk manager by getting a bachelor's degree in finance or business and getting certifications from the Chartered Risk Management Institute of Nigeria or the Chartered Institute of Loan & Risk Management.
Monthly salary range | ₦522,500–₦24 million |
Average salary | ₦474,000 |
Where to work | Financial advisory practices, insurance, and reinsurance firms |
Which career is best in commerce?
The best careers in commerce include being a chartered accountant, investment banker, chartered financial analyst, or actuary. Emerging fields with high demand include digital marketing, blockchain specialists, data analysts, and e-commerce managers.
Which commerce job has the highest salary?
Senior chartered accountants, business consultants, and senior executive managers earn the most in Nigeria. Investment bankers and product managers are among the highest-paying jobs in commerce in Nigeria, earning between ₦8 million and ₦24 million, according to Payscale and Glassdoor.
Securing the best career opportunities in commerce in Nigeria depends on obtaining the relevant academic and professional certifications. These include a diploma or bachelor's degree in finance, business, accounting, or banking and certifications like CFA, ICAN, and CITN.
Legit.ng has recently published an article about the job opportunities available for sociology graduates in Nigeria. With their expertise in human behaviour, community, and culture, sociologists are positioned as bridges between state and private corporations and the public.
In Nigeria, their jobs take various forms in teaching, advising, advocacy, research, and analysis. Read on to uncover which job opportunities are available for you in Nigeria and where to get them.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
