10 Companies in Nigeria That Paid the Most in Staff Salaries in One Year

• Access Holdings recorded the highest staff salary bill at N459.80 billion, followed by UBA and FirstHoldCo
• Seplat Energy had the highest average annual salary at N64.28 million per employee, while Dangote Cement recorded the lowest
• The ranking is based on total wages and salaries and each company's disclosed workforce in 2025

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

An analysis of financial statements of companies listed on the Nigerian Exchange (NGX) has revealed the companies that spent the most on staff wages and salaries in 2025.

Access Holdings topped the ranking, followed by United Bank for Africa (UBA) and FirstHoldCo.

Other companies on the list include Dangote Cement, Zenith Bank, Julius Berger Nigeria, Guaranty Trust Holding Company (GTCO), Stanbic IBTC, Seplat Energy and MTN Nigeria.

The companies operate across banking, telecommunications, oil and gas, construction and manufacturing.

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Average annual pay was calculated by dividing each company's total wages and salaries by its disclosed workforce. Monthly averages were derived by dividing the annual figure by 12.

Access Holdings

Access Holdings paid N459.80 billion in staff salaries in 2025, up 28.57% from N357.62 billion in 2024.

The company had 9,960 employees, resulting in an average annual salary of N46.16 million, or approximately N3.85 million monthly.

UBA ranks second

UBA paid N359.33 billion in staff salaries, representing a 20.74% increase from N297.60 billion in 2024.

With 10,814 employees, the bank's average annual salary stood at N33.23 million, equivalent to about N2.77 million monthly.

FirstHoldCo

FirstHoldCo recorded N304.76 billion in staff salaries, up 33.02% from N229.10 billion in 2024.

Its workforce increased to 10,909 employees, producing an average annual salary of N27.94 million, or approximately N2.33 million monthly.

Dangote Cement

Dangote Cement spent N259.52 billion on staff salaries, an 11.49% increase from N232.78 billion in 2024.

The company had 21,418 employees, the largest workforce among the companies reviewed.

Its average annual salary was N12.12 million, equivalent to approximately N1.01 million monthly.

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Zenith Bank

Zenith Bank's staff salary bill rose 31.51% to N181.07 billion from N137.69 billion in 2024.

The bank had 10,397 employees, giving an average annual salary of N17.42 million, or about N1.45 million monthly.

Julius Berger

Julius Berger paid N156.81 billion in staff salaries in 2025, up 1.77% from N154.08 billion in 2024.

Its 8,859 employees earned an average of N17.70 million annually, or about N1.48 million monthly.

Stanbic IBTC

Stanbic IBTC paid N110.09 billion in staff salaries, up 34.71% from N81.72 billion in 2024.

Its 3,374 employees earned an average of N32.63 million annually, or approximately N2.72 million monthly.

GTCO

GTCO spent N110.39 billion on staff salaries in 2025, representing a 24.47% increase from N88.69 billion in 2024.

Its 5,976 employees earned an average of N18.47 million annually, or approximately N1.54 million monthly.

Seplat Energy

Seplat Energy paid N96.81 billion in staff salaries, up 34.98% from N71.72 billion in 2024.

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With 1,506 employees, the company recorded the highest average annual salary in the ranking at N64.28 million, equivalent to approximately N5.36 million monthly.

MTN Nigeria

MTN Nigeria paid N88.84 billion in staff salaries in 2025, up 23.80% from N71.77 billion in 2024.

The company had 2,001 employees, resulting in an average annual salary of N44.40 million, or approximately N3.70 million monthly.

Salary breakdown by company

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The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the development in a statement. He said the new package takes effect from September 1, 2026, and covers roughly 250,000 military personnel across all ranks.

Under the scheme, ranges from 30% to 80%, depending on rank.

Source: Legit.ng