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
- CEO Access Bank Nigeria, Mr. Roosevelt Ogbonn
Access Bank emerged as the fifth largest employer of labour among and 4th Nigerian financial institutions with the largest number of employees in 2024, with a total staff strength of 8,939. This represents a notable 18% increase compared to 7,576 employees recorded in 2023.
A breakdown of the bank’s 2023 workforce gender distribution shows female dominated gender composition out of a total of 7,576 employees, with females 3,940 accounted for 52% of the workforce and males 3,636 males representing 48%. In 2024, the bank had a change in gender composition, out of a total of 8,939 people, 4,201 were females and 4,738 males, indicating a male dominated workforce.
The bank’s salary expenditure more than doubled year on year, with its total salary expense rising from N160.25 billion in 2023 to N357.62 billion in 2024, an increase of 123%.
