Are you trying to understand who earns the highest salary in Nigeria? You’re not alone. Many people ask this question to compare wages, career paths, and public office earnings. With the cost of living rising, knowing who takes home the most money every month matters.
In this complete 2025 guide, we'll uncover who earns the highest salary in Nigeria from public office holders to top private-sector executives. We’ll compare official monthly pay, allowances, and benefits in simple language. Whether you're planning your career or just curious, this article gives you a full answer.
Are Public Office Holders the Highest Earners?
When people ask who earns the highest salary in Nigeria, most names that come up are public officials—especially the President, Governors, and Federal Legislators. These leaders are often at the top in terms of total compensation when all allowances and benefits are counted.
President
Basic salary: ₦1.17 million per month
Allowances and security perks: around ₦3–4 million in added value
Total monthly package: ₦4–5 million
As Nigeria’s number one citizen, the President typically has the highest total compensation.
Governors
Basic salary: ₦185,308 monthly
Allowances: ₦4–9 million monthly in housing, security, staff, and vehicles
Total package: ₦5–10 million per month
In states with higher internally generated revenue (IGR), governors may take home more.
Senators and House of Representatives Members
Basic salary: around ₦170,000 per month
Allowances and running costs: ₦13–15 million per month
Total package: ₦13–15 million monthly
Because of their high allowances, especially constituency funds, federal legislators often out-earn governors.
Private Sector: Who Makes More?
Outside government, the highest earners in Nigeria are private-sector CEOs, bankers, telecom executives, and oil & gas leaders.
Group Managing Directors (GMDs) and CEOs
Oil & Gas GMDs (Shell, Chevron, Total): ₦20 million to ₦50 million per year (₦1.6–4 million monthly)
Bank CEOs (Zenith, GTBank, Access Bank): ₦15 million to ₦30 million per year (₦1.2–2.5 million monthly)
These private executives sometimes earn less than top public office holders, but their additional bonuses and stock options can push them ahead.
Comparison Table: Who Earns the Most in Nigeria?
Here’s where each top earner stands in total monthly compensation:
| Position / Role | Basic Salary | Allowances & Benefits | Total Monthly Value |
|---|---|---|---|
| Nigeria President | ₦1.17 million | ₦3–4 million | ₦4–5 million |
| State Governor | ₦0.19 million | ₦4–9 million | ₦5–10 million |
| Federal Legislator (Senator/Rep) | ₦0.17 million | ₦13–15 million | ₦13–15 million |
| Oil & Gas GMDs/CEOs | ₦1–2.5 million* | Bonuses, stock options | ₦1.6–4 million+ |
| Banking / Telecom CEOs | ₦1.2–2.5 million* | Bonuses | ₦1.2–2.5 million |
* Figures show total monthly compensation including bonuses — not their basic salary.
Why Do Federal Legislators Out-Earn Others?
You might be surprised to learn that senators and House of Representatives members often earn more than the President and governors. This happens because:
Constituency allowances: They collect public funds for use in their constituencies. Figures can reach ₦5–8 million per quarter.
Running costs: Monthly payouts for staff, transport, security, etc., often reach ₦1–2 million per month.
One-off benefits: Furniture, wardrobe, and travel allowances add on top of regular earnings.
If you ask who earns the highest salary in Nigeria, then federal legislators may have a bigger bank balance month to month because of these large allowances.
What About Private Sector Bonuses and Stock Options?
Even though corporate CEOs have lower monthly salaries, their bonuses and stock options can exceed ₦50 million annually. This can bring CEOs ahead in annual compensation, but it tends to come in large lump sums, not monthly.
However, the average private CEO or MD does not usually earn more in monthly cash flow than top public office holders with high allowances.
Are Top Public Salaries Worth It?
Many Nigerians question whether public officials really deserve these high earnings. Critics argue:
Public salaries are out of touch with average wages.
Politicians often underperform in public service.
Big allowances are not always transparent or accountable.
Supporters say:
High pay deters corruption.
Positions carry high responsibilities and are demanding.
Public officials manage large-scale budgets and security issues.
Frequently Asked Questions
1. Who earns the highest salary in Nigeria?
By total monthly value, federal legislators (senators and reps) often collect the highest amount in cash due to large allowances, followed by governors, the President, and then CEOs in private industry.
2. Do private CEOs out-earn public office holders?
In annual earnings, yes. But in monthly take-home pay, public officials can exceed private CEOs because of frequent allowances.
3. Do these salaries include benefits like cars and houses?
Yes. The values of official vehicles, staff, and state-paid residences are part of the total compensation package.
4. Are these salaries taxable?
Basic salaries are taxed, but many allowances paid in kind are not subject to personal income tax.
5. Can public office salaries be cut?
Technically yes, through RMAFC, National Assembly legislation, or public pressure, but strong political resistance has prevented broad reform.
Final Thoughts: Who Earns the Most in Nigeria?
So, who earns the highest salary in Nigeria? In terms of regular monthly take-home and allowances, federal legislators take the lead. They are followed by governors, the President, and then private-sector CEOs.
The debate often boils down to transparency and fairness. Knowing how much each person earns is the first step toward making public spending more accountable.