With our Nigeria Payroll Outsourcing services, your talents are paid on time and without error! Our team at Africa HR Solutions also provides your company with much-needed guidance to ensure that your operations comply with Nigeria’s Labor Code and tax policies. Over the years, we have played a pivotal role in the expansion of over 400 clients across Africa by providing reliable HR and payroll and cross-border payment outsourcing solutions.
Geographic location: Located in western Africa, Nigeria is a country neighboring Benin, Cameroon, and Chad.
Population: With more than 211 million inhabitants, Nigeria is Africa’s most populated country. Nigeria’s official language is English, but it is significantly less spoken in rural areas. Other languages include Hausa, Yoruba, Igbo and more.
Economy: Nigeria has enjoyed economic growth due to its oil resources. However, the past few years has seen a decrease in oil production, which is likely to cause a deceleration in the country’s economic growth. However, the country can still count on its other major sectors such as services (53% of the GDP), tourism, and manufacturing to maintain a positive economic outlook.
Value-added tax (VAT)
The standard VAT rate is 7.5% in Nigeria. Only a select few items are subject to a 0% VAT rating which means any VAT levied may be re-credited to the taxpayer.
Employees are generally entitled to at least 6 days of paid annual leave at 100% wage. For workers under the age of 16, the amount of annual leave can increase to 12 days.
In Nigeria, workers are generally entitled to 12 days of paid sick leave.
In Nigeria, women are entitled to a maximum of 12 weeks paid at 50% of their regular wage.
In the Lagos and Enugu States, men are entitled to 2 weeks and 3 weeks of paid paternity leave respectively.
In Nigeria, a contract of employment can be terminated at any time by either party – with or without reason by providing a notice period.
A contract of employment can also be terminated when it reaches its expiry date.
The required notice period varies depending on the employee’s seniority.
There is no statutory severance pay in Nigeria.
In the last 10 years, the scenario surrounding compliance in African countries has changed dramatically. Africa HR Solutions understands this and has become a major player in the African payroll market.