How does the salary of a Nigerian accountant compare to one in London or Toronto?
The salary of a Nigerian accountant ranges from ₦827,000 to ₦39 million annually, depending on experience and qualification. On average, a Nigerian accountant earns ₦2.5 million ($1,814) annually, nearly 30 to 50 times less than an accountant in London ($57,493) and Toronto ($93,542).
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TABLE OF CONTENTS
- Key takeaways
- Compare what an accountant earns in Nigeria, London, and Toronto
- A look at the cost of living comparison in Nigeria, the UK, and Canada
- Do accountants get paid more in London?
- Is $100,000 CAD a good salary in Toronto?
- Which institutions offer accounting courses in Nigeria?
- How many years is an accounting course in Nigeria?
Key takeaways
- The average salary of a Nigerian accountant is 2.5 million annually, and the total average compensation, which includes bonuses and benefits, is about ₦4.5 million annually.
- At the entry-level, a London accountant earns about £24,500 (₦45.1 million), while an accountant in Toronto receives about $52,681 CAD (₦52.4 million).
- Professional qualifications required to become an accountant in Nigeria are set by the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN).
- In London, premier accounting qualifications are set by the Associate Chartered Accountant (ACA), the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Management Accountants (CIMA).
- The Certified Public Accountant (CPA) certification program is the pathway to becoming a Canadian CPA.
- Nigerian accountants offering remote bookkeeping services in the United Kingdom can earn between ₦500,000 and ₦1 million per month without leaving the country.
Compare what an accountant earns in Nigeria, London, and Toronto
Accountants working in the private sector, specifically multinational oil and gas firms or Fast-Moving Consumer Goods (FMCG), are often offered more than those working in local companies in Nigeria, London, and Toronto.
In all locations, career opportunities in commerce in the federal and state government offer more stable incomes, allowances, and benefits.
How much is an accountant paid in Nigeria?
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The salary of an accountant in Nigeria in the public sector depends on the national standardised pay structure, while private business and finance firms reward performance with a competitive pay rate.
In major Nigerian cities such as Lagos or Abuja, accountants receive higher pay compared to other states. Have a look at the average salary in Nigeria for an accountant by experience level as per PayScale and MySalaryScale.
Career level | Experience in years | Annual salary in Naira |
Entry-level (trainee/graduate) | Less than a year | ₦414,000–₦827,000 |
Early career | 1–4 years | ₦1.18 million–₦2 million |
Mid-level accountant | 5–9 years | ₦1.7 million–₦2.5 million |
Senior accountant | 10–19 years | ₦1.8 million–₦5 million |
Chartered accountant | 5–15 years | ₦3 million–₦9 million |
Executive finance director (CFO) | Over 10 years | ₦9 million–₦39 million |
How much is an accountant paid in London?
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According to the Hays 2025 UK salary checker, a newly qualified accountant working in an SME or a large organisation in London can earn between £60,000 and £65,000 annually.
Data from the 2020 ICAEW salary survey shows that the annual average salary of a chief financial officer is £300,000, twice what a finance director in the city earns. Have a look at the salaries of accountants in London by experience level.
Career level | Experience in years | Annual salary in Pounds | Annual salary in Naira |
Entry-level (trainee/graduate) | Less than a year | £22,000–£27,000 | ₦40.3 million–₦49.5 million |
Partially qualified | 1–3 years | £28,000–£70,000 | ₦51.3 million–₦128.4 million |
Newly qualified (ACA/ACCA) | 3–5 years | £75,000–£85,000 | ₦137.6 million–₦156 million |
Senior accountant | 5–12 years | £70,000–£110,000 | ₦128.4 million–₦201.8 million |
Group FD/CFO | Over 10 years | £300,000–£500,000 | ₦550.6 million–₦917.7 million |
How much does an accountant make in Toronto?
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According to the 2026 Morgan McKinley salary guide for Canada, the average annual salary for senior accountants working in Toronto is $92,500 CAD. CPA-qualified accountants with at least three years of post-designation experience earn approximately $154,000 CAD annually.
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Career level | Experience in years | Annual salary in Canadian Dollars | Annual salary in Naira |
Entry-level (trainee/graduate) | Less than a year | $52,681 | ₦52.4 million |
Mid-level accountant | 3–7 years | $70,000–$80,000 | ₦69.6 million–₦79.6 million |
Senior accountant | 7–10 years | $99,607–$134,808 | ₦99.1 million–₦134.1 million |
CPA (newly designated) | 3–5 years post-grad | $152,000 | ₦151.2 million |
Senior CPA | 25 years | $200,000–$370,000 | ₦199 million–₦368.2 million |
A side-by-side comparison of accountants' salaries in Nigeria, London, and Toronto
At the entry-level, accountants in Nigeria earn less compared to those in London and Toronto. Have a look at the difference in annual compensation in Naira (₦) for professionals in this field across all three locations.
Career level | Nigeria | London | Toronto |
Entry-level (trainee/graduate) | ₦414,000–₦827,000 | ₦40.3 million–₦49.5 million | ₦52.4 million |
Mid-level accountant | ₦1.7 million–₦2.5 million | ₦51.3 million–₦128.4 million | ₦69.6 million–₦79.6 million |
Senior accountant | ₦1.8 million–₦5 million | ₦128.4 million–₦201.8 million | ₦99.1 million–₦134.1 million |
Chartered/qualified accountant (ACA/ACCA/CPA) | ₦3 million–₦9 million | ₦137.6 million–₦156 million | ₦151.2 million |
Executive finance director (CFO) | ₦9 million–₦39 million | ₦550.6 million–₦917.7 million | ₦199 million–₦368.2 million |
A look at the cost of living comparison in Nigeria, the UK, and Canada
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As per Numbeo's March 2026 data, the estimated monthly costs for a single person in Nigeria, excluding rent, are approximately $500.8 (₦695,055), about three times what it would cost a single person in Toronto, $1,539.6 CAD. As of the 2025 Remitly's UK cost of living guide, a single person in London should expect to spend around £1,045 per month on expenses excluding rent.
Have a look at this comparison of basic monthly utilities in major cities in Nigeria, such as Lagos, Abuja, and Enugu, against the costs in London and Toronto.
Expense | Nigeria | London | Toronto |
Rent (One bedroom) | ₦50,000–₦300,000 | £700–£2,457 | $2,000–$2,700 |
Food (self-catered) | ₦35,000–₦100,000 | £150–£450 | $85–265 |
Transportation | ₦20,000–₦80,000 | £60–£150 | $150–$165 |
Utilities | ₦15,000–₦80,000 | £150–£350 | $130–$350 |
Data/phone charges | ₦8,000–₦20,000 | £35–£70 | $32–$120 |
Total expenses | ₦128,000–₦580,000 | £1,095–£3,477 | $2,397–$6,957 |
Do accountants get paid more in London?
London-based accountants are consistently paid more at mid-level and senior levels. Entry-level graduates in Toronto are the highest paid compared to those in London and in Nigeria.
For Nigerian accountants considering immigration, London offers additional advantages. ACCA is a widely accepted qualification, and ICAN members can apply for the Institute of Chartered Accountants in England and Wales (ICAEW) membership via a recognised pathway.
Is $100,000 CAD a good salary in Toronto?
With an average annual salary of $92,500 CAD, $100,000 CAD is a livable wage in Toronto. Numbeo estimates show that the monthly cost of living for a single person is $1,450 CAD, and rental costs range between $1,072 CAD and $2,644 CAD for a 1-bedroom.
For a CPA-qualified Nigerian professional moving to Canada, breaking the $100,000 CAD threshold is achievable within seven to ten years.
Which institutions offer accounting courses in Nigeria?
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For aspiring accountants considering this career or looking to upgrade their qualifications before an international move, the Institute of Chartered Accountants of Nigeria, as well as state and federal universities in Nigeria, should be considered:
- ACCA Nigeria
- University of Lagos (UNILAG)
- Obafemi Awolowo University (OAU)
- University of Nigeria, Nsukka
- Ahmadu Bello University (ABU)
- 3V Learning Centre
How many years is an accounting course in Nigeria?
An accounting degree programme (B.Sc. Accounting) is completed in eight semesters for four years. For flexible studies, this course can take a maximum of eight years (sixteen semesters). Additional qualifications such as ICAN, ACCA, CPA, and Chartered Financial Analyst (CFA) can take between 3 and 4 years to complete.
The salary of a Nigerian accountant reflects a significant gap, thirty to forty times less compared to global standards in the United Kingdom and Canada. Other than Nigerian accountants working remotely for multinationals, those in all career levels, including executive roles, earn less than their counterparts in Toronto and London.
DISCLAIMER: This article is not sponsored by any third party. It is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
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Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
