Telecommunications giant, MTN, has increased the salaries of its staff in Nigeria by up to 17 percent, after the company infused about N4.5 billion into its salary scale.
Amidst the COVID-19 pandemic when many companies were struggling to pay salaries, the telecom firm reported a total increase in its salaries and wages from about N25.79 billion in 2019 to about N30.2 billion in 2020, representing a 17 percent bump.
This translates that on the average, MTN paid N16.4 million per staff per annum in 2020, compared to N13.79 million per staff in 2019 representing an 18.9 percent increase.
According to the statistics drawn by Nairametrics, a peep into MTN’s annual reports also revealed that the salary increase was across the board for the year under review.
Consequently, based on the increase, the least amount a staff currently earns is N3.5 million per annum, from the previous N2.5 million a year.
The statistics adds that about 141 staff saw their salaries increase to above N3.5 million per annum in 2020, while another 260 staff were bumped to a salary scale of between above N7.5 and N8.5 million, and another 158 employees were moved to a salary scale of above N12.5 million per annum.
While a total of 599 employees received various levels of salary increases during the year, Executive Directors of MTN also reported a pay raise from N586 million per annum in 2019, to N732 million in 2020.
