Despite a challenging macroeconomic environment, several of Nigeria’s leading corporations maintained strong employment numbers in 2024.
The top 10 employers collectively employed 84,491 workers in 2024, spanning sectors such as financial services, industrial goods, and consumer goods. The companies reported a combined N1,695 trillion on employee salary expenses the same year.
This is according to data compiled by Nairametrics research from the financial statements of these companies listed on the Nigerian Exchange (NGX)
Nigeria’s youth population aged between 15 to 24 accounted for 55.3% of the total labour force. Within this group, 50.6% were employed, while 8.4% were unemployed. Additionally, 14.4% of youths in this age group were neither in school, employment, nor training (NEET), up from 13.7% in the previous quarter
These top employers play a vital role in mitigating unemployment and supporting Nigeria’s economic growth. Their continued operations provide much-needed opportunities in a country facing rising unemployment rates.
While these are Nigerian listed companies, many have operations across other African countries and in Europe. The reported employee figures cover staff working across these regional operations, not just within Nigeria.
Here is a list of the top 10 largest employers of labour in 2024
- Group CEO GTCO, Segun Agbaje
Guaranty Trust Holding Company Plc (GTCO), a key player in the Financial Services sector, reported an increase in its number of employees. The bank’s total employee count in 2024 was 5,803, reflecting an increase of approximately 5.76% from its 2023 figure of 5,487 employees.
GTCO’s employee gender distribution consisted of 2,843 female employees and 2,960 male employees, translating to approximately 49% female and 51% male. This shows that males slightly outnumbered females in 2024, while in 2023, the bank employed 2,524 females and 2,963 males, which equates to roughly 46% female and 54% male. Male employees held the majority in both years.
The bank’s salary expense grew sharply, rising by 83% from N48.54 billion reported previous year to N88.69 billion in 2024.
Please I need a mentor in banking . Kindly show me how to find one if you can.
From your analysis ,you failed to tell us the percentage of causal and permanent staff.in each of this organization.