MTN Nigeria, the country’s top telecom company, is known for its competitive pay structure.Â
Out of its 1,809 employees, 1,514 earn more than ₦1 million each month, setting it apart from competitors like Globacom and 9mobile.
Even the lowest-paid staff member receives about ₦458,333 monthly, which is 15 times Nigeria’s minimum wage.
Unlike many telecom companies, MTN reviews salaries every year, independent of the company’s performance or market conditions.
This policy resulted in a 59.5% increase in the company’s total wage bill in 2024, growing from ₦42.7 billion to ₦71.7 billion.
The telecom sector is growing fast, with more jobs in areas like network engineering, software development, and cybersecurity.
 However, this growth has led to varying pay structures within the industry. For example, Airtel ties pay increases to performance, and Globacom’s raises are at the discretion of the chairman, with some staff earning as little as ₦147,000 monthly.
MTN’s strategy aims to keep talented workers by offering steady salary increases.
These adjustments are reviewed and approved at the company’s AGM every year, ensuring salaries stay competitive and in line with inflation.
While other telecom companies struggle to match MTN’s pay, they face challenges in increasing wages due to market pressures.
MTN’s approach not only attracts top talent but also positions the company as a leader in the industry, according to experts.
The long-term success of this model will depend on the company’s ability to sustain its financial strength.
