Top Nigerian Companies by Staff Salary Payments in 2025

An analysis of financial statements from companies listed on the Nigerian Exchange (NGX) revealed that Access Holdings topped the list of companies that paid the most in staff salaries in 2025, with a total expenditure of N459.80 billion, reflecting a 28.57% increase from N357.62 billion in 2024. The company employed 9,960 staff, resulting in an average annual salary of N46.16 million, or approximately N3.85 million monthly.

United Bank for Africa (UBA) followed, paying N359.33 billion in salaries, a 20.74% increase from N297.60 billion in 2024, with 10,814 employees earning an average of N33.23 million annually. FirstHoldCo paid N304.76 billion, up 33.02% from N229.10 billion in 2024, with 10,909 employees earning an average of N27.94 million.

Other companies included Dangote Cement, Zenith Bank, Julius Berger Nigeria, GTCO, Stanbic IBTC, Seplat Energy, and MTN Nigeria, all of which also reported significant salary expenditures and increases compared to the previous year.