Hire in Nigeria
Nigeria is the largest country in Africa. Nigerian is an emerging market that boasts of a mixed economy. The main industries of Nigeria include petroleum, tourism, agriculture, and mining. The unemployment rate has witnessed a slight decrease from 8.1% in 2020 to 7.96% in 2021. Nigeria provides a wide range of job opportunities in many of its sectors.
The Nigerian economy is dominated by the oil and gas sector, which contributes around 80% percent to the country’s revenue. It is the most populous country in Africa, opening a door of opportunities for skilled and enthusiastic professionals and graduates. The country is slowly coming back to its pace after the impact of the pandemic, and the employment rates are getting boosted. The country is also a larger exporter of food and imports food products too.
Overview of Nigeria
As of 2021, Nigeria is the 27th largest economy in the world by nominal GDP (Gross Domestic Product). The service sector heavily dominates the economy with a huge share of 54.39%, followed by the manufacturing and agriculture sector. The country is ranked 24th in terms of purchasing power parity and is the largest economy in Africa.
Total Population - 200 million+
GDP- US $429.42 billion (FY 20)
As per the National Bureau of Statistics reports, the Nigerian economy recovered from the pandemic and is getting back to its pace in 2021 after the pandemic enforced restrictions. The GDP rate has decreased by 1.79% in 2020 compared to the previous year and has reached a valuation of 429.42 billion USD. The GDP rate is expected to grow by 2.53% in the first quarter of 2021.
The economy of Nigeria is a middle-income mixed economy and is the largest economy in Africa. The expanding industries include manufacturing, technology, financial service, communication, and entertainment sectors. Oil sectors contribute major revenue to the country’s economy. Other larger industries include agriculture, tourism, and mining.
A brief glimpse of the industries
- The petroleum industry is the largest and most economical industry in Nigeria. The country is ranked in the top ten producers of oil across the world. Petroleum products and crude oil are the main export products. Oil exports generate 14% of the country’s GDP. It also contributes to 83% of the country’s revenue.
- Another major industry is the tourism industry. Nigeria is a popular tourist destination due to its vivid landscape and exotic wildlife. Nightlife experience in Nigeria is also something that travelers like to enjoy. The country has witnessed growth in this sector. The tourism industry accounts for 6% of the country’s GDP.
- The agriculture industry is another dominant industry of Nigeria. It employs about 30% of the country’s labor force and provides a lot of job opportunities. Oil palms are the most in need of a crop as it is used in many industries like cosmetics, plastics, and pharmaceutical industries. Another agricultural product that is in high demand is cocoa.
Cost of living in Nigeria
Nigeria is the largest and most populous country in Africa. It has a lot of tourist places and is free of natural disasters. It is a great place to live in. Ikot Ekpene City and Ibadan city are some of the affordable cities in the country.
Salary structure for various roles
Average salaries that employees engaged in various sectors across Nigeria has been highlighted below: -
Cost of Renting
The cost of living on rent in Nigeria depends on the facilities desired as well as the size of the house. The cost of renting a one bedroom apartment is around $719.38 (295,666.6₦), depending upon the area. The rent is subjected to an increase depending on the amenities available and the lifestyle desired. Hiring will gather pace in the following sectors in 2021 across Nigeria: -
Top skills in Nigeria
Nigeria is a mixed economy and emerging market and is heavily dominated by the service sector. Consequently, it is keen on hiring skilled individuals and highly qualified professionals trained in various hard and soft skills. From a business consultant to a copywriter and graphic designer, there is a wide range of opportunities available for these skills.
Major skills and areas which have witnessed a recent growth rate
- Project Management
- Language (creative opportunities)
- Graphic Design
- Professional skills
Top skills city-wise occupation-wise
Every city in Nigeria has certain features that render them suitable for various types of industries. Nigeria is a beautiful country with a diverse landscape and is a great place to live in that provides a wide range of opportunities for employees from various industries.
- Lagos - Lagos is the most populous city in Nigeria. The city is an economic hub of the state of Lagos. It is the major African financial center. Financial corporations, commercial banks, and major headquarters are situated in the city, which opens a wide range of job opportunities. The city is also a center for entertainment sectors, especially movies and music fields. Tourism is another major industry in the city.
- Kanos- Kanos is the second-most populous city in the country. The major industry in the city is the agricultural industry. Peanuts, cotton, skin, and hides are the major export products. Other industries include the commerce and mining industry. The manufacturing industry is also prominent, which includes clothing, cosmetics, pharmaceuticals, leather, foam rubber products, and candles.
When you are conducting a hiring process for your organization, the cost incurred in the hiring process must not be overlooked. Some of the crucial factors that you ought to consider while hiring new personnel are: -
- Onboarding and training processes
- Cost of the hiring process
- Cost of the interview process
- Time required
Employment Laws in Nigeria
Nigeria enjoys a highly regulated employment market wherein local as well as federal laws determine the ambit of an employment contract. As per the labor law in Nigeria, employers must follow the rules and regulations for employment aspects like: -
- Maximum work hours per week
- Leaves and holidays available
- Termination of employment
- Minimum wages
How Can Skuad Help You with Hiring in Nigeria?
When you are organizing recruitment in Nigeria, you must have dedicated resources at your disposal. In the present times, when your focus should be on the optimization of resources, the hassles of recruitment act as a deterrent. Skuad offers a unified employment solution that simplifies every recruitment process by just a click of a button. Connect with Skuad to know more.