Highest-Paying FG Parastatals in Nigeria: What are the highest-paying FG parastatals in Nigeria? It’s a fact in Nigeria that some FG parastatals pay more than other government institutions.
In successive years, there will be more reports of bogus and excessive salaries paid by these parastatals. This article would concern itself with the FG parastatals with the highest pay in Nigeria.
FG Parastatals in Nigeria with the Highest Paying
Nigerian National Petroleum Corporation (NNPC)
This petroleum agency is the highest paying federal government parastatal. It functions as Nigeria’s regulatory and oil-producing company. It is highly rated by the Nigerian government and has a great reputation as a big foreign exchange earner for the government. NNPC employees are richly paid and compensated wealthily.
For IT students, SIWES students and interns, NNPC pays 26,000 Naira monthly. Though some of them are purported to receive up to 30,000 Naira monthly. The starting salary for NNPC Sales Managers is from 300,000 Naira, but not more than 350,000 Naira monthly. Economists working for NNPC earn not less than 4, 000, 000 Naira yearly.
Bank of Industry
The Bank of Industry is Nigeria’s leading development bank. It makes over 23 billion naira a year, and it has branches all over the country. It is regarded as one of the highest-paying FG parastatals in Nigeria.
Analysts working at Bank of Industry earn as much as 3, 000, 000 Naira a year. Others rake in as much as 3, 500, 000 Naira annually. The banking officer of the government agency earns close to 5, 500, 000 Naira a year.
Central Bank of Nigeria (CBN)
Central Bank of Nigeria is Nigeria’s apex bank and they also serve as a regulatory institution for other banks. They are also responsible for minting the Nigeria note. The CBN for years has kept its salary payslips and other stipends from public purviews for decades. But with the age of technology, comes exposure to private information.
With adequate findings, CBN pays its trainees and interns 50,000 Naira every month while entry-level staff take home 150, 000 Naira as salaries monthly. Loan officers earn 600, 000 Naira monthly and Credit analysts take home 8,500,000 yearly as salaries.
Federal Inland Revenue Service (FIRS)
The Federal Inland Revenue Service is a very powerful federal agency and among the most Highest Paying FG Parastatals in Nigeria. It is responsible for collecting taxes in Nigeria.
The Federal Inland Revenue Service PAYS 170,000 TO 180, 000 Naira monthly to its entry-level staff. Officer 1 earns as much as 200, 000 Naira monthly.
Nigerian Maritime Administration and Safety Agency (NIMASA)
The Nigerian Maritime Administration and Safety Agency (NIMASA) regulates shipping bodies and the entire shipping industry. It is one of the federal parastatals that rakes in good money and is known to be among the highest-paying FG parastatals in Nigeria.
NIMASA entry-level staff are earning as much as 250,000 to 300,000 Naira monthly.
Nigerian Communication Commission (NCC)
The Nigerian Communication Commission is a federal parastatal authorized by Nigerian law to regulate the Nigerian telecommunications industry. It is one of the highest-paying government agencies in the country.
With the increase in the use of digital communication tools across most parts of Nigeria, this government department has witnessed investment and relevance. This is the reason why a lot of job seekers strive to secure a job with the Nigerian Communication Commission.
Since it was established by the then-Ibrahim Babangida-led military government in 1992, the agency has been instrumental in the growth of Nigeria’s information and communication industry, especially the widespread use of the internet.
According to various reports, the average salary for the Nigerian Communications Commission (NCC) is 339,307 naira.
Department of Petroleum Resources (DPR)
The Department of Petroleum Resources is an agency that reports directly to the Ministry of Petroleum Resources. It is charged with making sure that the various players in the oil and gas industry comply with the existing petroleum laws and guidelines. Their agents monitor refineries, gasoline stations, oil wells, and drilling sites. It is an exciting place to work, especially for graduates of petroleum or petrochemical engineering.
The average salary for the Department of Petroleum Resources (DPR) is 291,375 Naira.
Petroleum Product Pricing Regulatory Agency (PPPRA)
Located in Abuja, the Petroleum Product Pricing Regulatory Agency is a federal government agency that is responsible for setting the price of petroleum products and overseeing the supply and distribution of natural gas and premium motor spirits. It was established in mid-2003.
The Petroleum Product Pricing Regulatory Agency is also known for its high-paying salary scale. For instance, a report in 2012 showed that the Petroleum Products Pricing Regulatory Agency (PPPRA) spent a whopping N5.2 billion on salaries and allowances of less than 250 staff.
Nigeria Port Authority (NPA)
The Nigeria Port Authority was established in 1954, and since then it has controlled and supervised operations in Nigeria’s ports. The NPA controls ports in Lagos, Delta, Port Harcourt, Calabar, and Onne. It is headquartered in Lagos and is directly under the Ministry of Transport.
As one of the oldest and most lucrative government agencies in the country, their staff is well-paid. The average salary for the Nigerian Ports Authority (NPA) is 132,570 naira.
National Pension Commission (PENCOM)
The National Pension Commission was established in 2004 to tackle the numerous problems plaguing the Nigerian pension scheme. The main duty of this federal agency is to oversee and supervise the administration of pensions in Nigeria.
Nigeria in Diaspora Commission
The Nigeria in Diaspora Commission (NIDCOM) is a government agency that regulates and fosters the active participation of Nigerians living abroad in national development efforts. It offers assistance to Nigerians residing abroad who wish to make investments in Nigeria or contribute to the socio-economic growth of the nation. They rely on the Diaspora Engagement Officer and Diaspora Outreach Coordinator, among others.
Bureau of Public Enterprises
The Bureau of Public Enterprises (BPE) is an FG parastatal tasked with carrying out the Nigerian government’s guidelines on the privatization and sale of public enterprises. The BPE seeks to boost the operation of these enterprises by making them operate with greater effectiveness and efficiency through private-sector participation.
They pay managers about for NGN 2,784,670, investment analysts NGN 1,800,000, and business development officers NGN 1,208,955.
Nigerian Maritime Administration and Safety Agency
Nigerian Maritime Administration and Safety Agency (NIMASA) is the federal agency in charge of maritime security and stability in Nigeria. The agency encourages the growth of local shipping businesses as well as oversees shipping operations throughout Nigeria. Additionally, it makes sure the country adheres to international shipping laws.
They hire office staff (NGN 370,042), safety officers (NGN 1,207,147), and marine engineers (NGN 1,740,000).
How to Apply for Government Parastatal Jobs in Nigeria
The following are the most important documents to have on hand before or during your application for jobs with the Nigerian Federal and State Governments. They include the following:
- Original Certificate of Birth
- Certificates from WAEC, NECO, or GCE
- Origin Certificate (state and/or local government)
- Original means of identification, such as a voter’s card, a driver’s license, a Nigerian passport, or a national identity card.
- Original University degree
- Marriage license (for married women using their husband’s name)
- your curriculum vitae.
Please keep the following important facts in mind when applying for FG parastatal vacancies. To give yourself a good chance of landing the job, make sure you completely adhere to them.
- Do not apply for the same position more than once. You will instantly disqualified.
- Make sure that your name is spelled properly.
- Also, make sure your height and weight are practically flawless.
- Specify whether you are currently enrolled in a pension fund agency
- Ensure that the marks on your certifications correspond to the grades on your transcripts.
- Make sure your professional experience and graduation dates are genuine.
- Finally, before submitting, have someone double-check the information you’ve provided.