Accountants Salary in Nigeria and Job Opportunities for Accounting Graduates in Nigeria


Welcome to a comprehensive investigation into the salaries of accountants in Nigeria and the abundance of job opportunities that await accountants in Nigeria. This article endeavors to reveal accountants salaries in Nigeria, alongside the various job opportunities that awaits an accounting graduates in Nigeria. 

Who is an Accountant? 

Accountants Salary in Nigeria and Job Opportunities for Accounting Graduates in Nigeria

An accountant is a skilled individual who has the responsibility of documenting, evaluating, and interpreting financial data for businesses, organizations, or individuals. Their main objective is to guarantee precise financial records, adherence to applicable laws and regulations, and to offer valuable financial perspectives that assist in making informed decisions.

 Accountants can be employed in diverse sectors including public accounting firms, corporate finance departments, government agencies, or as self-employed advisors. They frequently undertake duties such as creating financial statements, overseeing budgets, conducting audits, and providing guidance on financial strategies.

Responsibilities of an Accountant 

The daily responsibilities of an accountant are broad and dynamic, depending on the nature of their role. While the overarching duty is to manage financial aspects, the specific tasks can vary from day to day. Accountants primarily focus on preparing and scrutinizing financial records, ensuring accuracy and timeliness. 

Specializations within the field, such as forensic accounting or taxation, may lead to a more targeted focus on specific facets of a company's financial operations. However, a fundamental aspect of their role is the ethical obligation to conduct all work with integrity.

While the tasks may be diverse, the following are some of the common daily activities performed by accountants:

1. Recording and categorizing expenses, and generating financial reports.

2. Analyzing financial data to recommend strategies for organizational efficiency.

3. Conducting risk analysis evaluations.

4. Managing tax returns and ensuring timely payments.

5. Verifying the accuracy of financial documents in compliance with laws and regulations.

6. Providing advice to organizations on cost reduction, revenue improvement, and profit enhancement.

7. Identifying and addressing discrepancies in accounting.

8. Keeping account books and systems up to date.

9. Collaborating with external auditors.

10. Recording payments and disbursements.

These daily tasks showcase the diverse and vital role accountants play in maintaining the financial health and integrity of an organization.

Job Opportunities available for Accountant Graduates in Nigeria

1. Industry demands: 

Job opportunities for accountants in Nigeria are diverse and can be found in various industries. These industries include finance, banking, oil and gas, telecommunications, manufacturing, and services. The demand for qualified accountants has increased due to the Nigerian government's focus on economic development and regulatory compliance.

2. Professional Services:

In the professional services sector, accountants are highly sought after in firms that specialize in accounting and auditing. They play crucial roles in providing financial advisory, audit, and taxation services.

3. Corporate Sector:

The corporate sector also offers numerous job opportunities for accountants. Both large corporations and small to medium-sized enterprises (SMEs) require accountants to manage financial records, prepare financial statements, budget, and ensure compliance with taxation laws.

4. Financial Institutions: 

Financial institutions such as banks, insurance companies, and other financial organizations in Nigeria also hire accountants for roles such as internal auditing, risk management, and financial analysis.

5. Public Sector: 

Opportunities also exist in the public sector, including government agencies and public sector organizations. Accountants in these roles work on budgeting, financial planning, and maintaining financial records.

6. NGOs and Non-Profit Organizations: 

Non-governmental organizations (NGOs) and non-profit organizations also require the services of accountants to manage their financial resources and ensure transparency and accountability.

To enhance job prospects and career advancement, obtaining professional certifications such as the Institute of Chartered Accountants of Nigeria (ICAN) or the Association of Chartered Certified Accountants (ACCA) is highly recommended.

Accountant Salary in Nigeria 

Accountants working for the government are paid differently from those working in private establishments. We will look at accountants’ salary in Nigeria from these two angles;

Accountants Salary in Government Establishments in Nigeria 

Entry-Level Salaries

The entry-level salaries for accountants working in government establishments usually ranges from N65k to N80k

Mid-Career Earnings

As experience accumulates, mid-career accountants can anticipate a notable increase in their earnings, with salaries ranging between N120k to N200k per month. 

Senior-Level Compensation

For seasoned accountants holding senior positions in government establishments, the financial rewards become more substantial. Senior-level salaries often range from N320k to N400K per month, reflecting the culmination of expertise and leadership.

Accountants Salary in Private Establishments in Nigeria

Accountants in private sectors are paid above N40k. Although, we cannot say the exact range of salary accountants will earn in private sectors in Nigeria. This is because there are many factors that influences accountants salary in private establishments in Nigeria. Some of these factors are; 

1. Company Size

2. Location

4. Education and Qualifications

3. Experience

4. Skills and Expertise

5. Job Role and Responsibilities

6. Negotiation Skills

7. Company Performance

8. Inflation and Economic Conditions

9. Company Policies and Culture

10. Benefits and Perks

Accounting graduates working in one of the top companies in Nigeria can expect to be paid as high as a million naira. 

Is Accounting a Good Course to Study in Nigeria?

The assessment of whether accounting is a good course to study in Nigeria is based upon several factors such as individual interests, professional aspirations, and the prevailing economic conditions. Nevertheless, this article will offer valuable perspectives to assist you in making a well-informed choice.

Job Opportunities:

The field of accounting presents a multitude of job opportunities that are consistently in demand across various industries. Companies, government agencies, and non-profit organizations all rely on the expertise of accountants to effectively manage their financial records, ensure compliance with regulations, and make informed financial decisions.

Stability and Security:

One of the key advantages of pursuing a career in accounting is the level of stability and security it offers. During times of economic uncertainty, businesses require skilled professionals who can navigate complex financial matters and provide valuable insights. This ensures that accountants are always in demand, providing a sense of job security.

Diverse Career Paths:

By studying accounting, individuals open themselves up to a wide range of career paths. Accountants can choose to work in public accounting firms, corporate finance departments, government agencies, non-profit organizations, or even establish their own accounting practices. This diversity allows individuals to find a career path that aligns with their interests and goals.

Professional Development:

Continuing professional development is crucial in the field of accounting. Pursuing certifications such as ICAN (Institute of Chartered Accountants of Nigeria) or ACCA (Association of Chartered Certified Accountants) can significantly enhance career prospects and increase earning potential. These certifications demonstrate a commitment to professional growth and expertise in the field.

Entrepreneurial Opportunities:

With a strong foundation in accounting, individuals have the option to start their own accounting firms. This provides entrepreneurial opportunities where services such as auditing, tax consulting, and financial advisory can be offered to businesses. This allows individuals to have greater control over their career and potentially achieve financial success.

Global Relevance:

Accounting skills are globally recognized, enabling accountants to work not only in Nigeria but also in other countries. This global relevance opens up international career opportunities for those seeking to expand their horizons and gain valuable experience in different cultural and business contexts.

Evolving Role:

Advancements in technology have transformed the role of accountants. In addition to traditional financial responsibilities, accountants are now expected to possess skills in data analysis, technology, and strategic financial planning. This evolution makes the profession dynamic and relevant, requiring accountants to adapt to changing trends and embrace new technologies.

Personal Interest:

When considering a career in accounting, it is important to take into account personal interests and aptitude. If an individual has a passion for numbers, financial analysis, and problem-solving, accounting can be a well-aligned choice that allows them to leverage their strengths and preferences in a fulfilling career.

Note: According to World Bank, there is an increase in Nigeria's poverty rate from 40 percent in 2018 to 46 percent in the current year, with the number of individuals living in poverty rising from 79 million to 104 million. Also, a study by Stutern, an online platform that connects interns with employers, has revealed that Nigerian graduates are grossly underpaid by local companies in the country but that’s not all. 

There is also a high level of unemployment in Nigeria. It is advisable that you do not fully depend on white collar jobs. Our advice to you is that you should be innovative no matter the course you are studying in Nigeria. 


Oluwatobi is a passionate librarian with over 3 years experience. He is also a blogger with love for writing and research


  1. Thanks a lot for this article. It really inspired me!

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