MTN Nigeria, the country’s largest telecom operator, is also one of the most competitive employers. Of its 1,809 employees, 1,514 earn at least ₦1 million monthly. Even the lowest-paid employee takes home an average of ₦458,333 per month, fifteen times Nigeria’s minimum wage.
Unlike most telcos, which link salary increases to company performance, MTN conducts an annual salary review regardless of economic conditions. This policy drove its total wage bill up by 59.5% in 2024, from ₦42.7 billion to ₦71.7 billion.
The telecom industry spans mobile networks, tower companies, internet providers, and data centers. As demand grows for skilled professionals in 5G, fiber optics, and cybersecurity, pay gaps between companies have widened. Airtel ties raises to performance, while Globacom’s salary increments are discretionary, often relying on Chairman Mike Adenuga’s decision. Customer service employees at Globacom earn as little as ₦147,000 monthly, far below MTN’s pay scale.
MTN’s salary approach helps retain talent and maintain market leadership. Annual raises, approved at its Annual General Meeting (AGM) in May, ensure wages keep pace with inflation and performance. Rivals struggle to match MTN’s pay while balancing profitability and market share challenges.
“The implication is that MTN Nigeria will maintain its market leadership by retaining top talent, working with the best contractors, and managing cash flow more effectively than competitors,” said telecom executive Ladi Okuneye.
For now, MTN’s salary policy strengthens its position, making it harder for rivals to compete. Whether this model remains viable in the long run will be a test of the company’s financial strength.
