This revelation was based on an analysis of 22,692 online vacancies posted between January 2023 and May 2024, which highlights the growing mismatch between job availability and decent employment conditions, which also reflects a case of wage disparity.
The report, compiled from publicly available sources, shows that while Lagos boasts a high frequency of job postings across sectors, many of these roles offer a below modest pay.
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It notes that while thousands of new roles are advertised monthly, peaking in mid-2024 after a seasonal dip during the 2023 festive period, only half of the publicly listed salaries exceed N125,000 per month. This figure falls below the expectations of many jobseekers, “especially in a city grappling with rising living costs and youth unemployment”, the report notes.
For employers, the findings suggests that low salary offerings may be contributing to difficulties in attracting and retaining qualified candidates.
According to career experts like Shehu Zubairu, tailoring HR strategies could therefore reflect sector-specific benchmarks and offer competitive packages to improve recruitment outcomes.
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Job quantity vs job quality
Based on the report, services and sales positions, covering retail, clerical, and basic administrative roles has the lowest median salaries. Technicians and operators fare slightly better, but it is professionals and managers who command the highest wages.
However, even within the same occupation, salary disparities are stark. For instance, accounting roles range from N50,000 per month for interns to N875,000 for chief financial officers. In some cases, CFO listings reach as high as N1.7 million monthly, while junior accountants may earn less than N100,000.
These gaps reflect not only differences in experience and qualifications but also variations in company size, sector, and location.
In a similar vein, an Intel report points out that only 2.4 to 4 percent of Nigeria’s population is earning around N200,000 or above. This basically means that only about 1.1 million Nigerians are earning around that figure out of 230 million people in the country.
Dr. Niran Oyekale, a digital literacy and human capital development expert, highlighted that remuneration should reflect the level of work risk, with high-risk jobs like oil rig work requiring additional allowances. While basic pay is often standard, total compensation varies due to incentives and emoluments.
Oyekale however admitted that Nigeria’s minimum wage is too low, particularly for non-formal sector workers who face unsafe conditions. Additionally, he stressed the importance of training, which enables workers to multitask, freelance, and develop in-demand skills to improve their earning potential.
“When you look at the basic pay, it may be the same as the basics are usually harmonised, but it’s the emoluments and incentives that differ”.
“Sincerely speaking, the minimum wage in Nigeria is too low, and the take-home pay of an average worker is inadequate. Perhaps the government should find ways to alleviate these challenges”.
“For instance, in the non-formal sector, workers face risks such as theft, harassment, and unsafe conditions on the roads or in markets, yet nothing substantial has been done to mitigate these risks”.
He stressed the importance of acquiring globally-relevant skills as this has contributed to high wages in some sectors because people must be compensated for their expertise.
“When workers are properly trained, they can multitask in a digital world. Officially, they may be seen doing one thing, but behind the scenes, they perform many tasks. Training enables workers to freelance and develop skills in high demand”, he said
The analysis underscores the importance of upskilling and professional networking. Jobseekers with advanced degrees or certifications, particularly in STEM fields, finance, and management, are more likely to secure higher-paying roles.
