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 of United Bank for Africa, Oliver Alawuba
United Bank for Africa Plc (UBA) took fourth spot on the list of largest employers, with 9,323 employees in 2024. However, this represents a decline of 7% from 10,007 employees in 2023.
Out of a total of 9,323 employees in 2024, 5,007 were male and 4,316 were female; this means women made up 46% of the staff, while men made up 54%. In 2023, there were 4,569 female and 5,438 male employees. This shows that, just like in 2023, men continued to make up the larger part of the workforce in 2024.
Despite the reduction in headcount, the bank recorded a substantial increase in salary expenses. UBA’s salary expense surged to N297.60 billion in 2024, up from N173.65 billion in the prior year, marking a 71% increase.
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.