Actuarial Consultant salary in Nigeria

Average Yearly Salary of Actuarial Consultant in Nigeria is approximately 7,978,818 NGN (9,537 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Actuarial Consultant do?

An actuarial consultant is a professional who provides expertise in risk management and financial forecasting to clients in various industries. They analyze large amounts of data to assess and mitigate potential risks, such as insurance claims or investment losses, and help organizations make informed decisions based on their findings. Actuarial consultants use mathematical models and statistical techniques to evaluate the probability and impact of different scenarios, ensuring that businesses can effectively manage their risks and optimize their financial strategies. They also provide advice on pricing, product development, and regulatory compliance.

Skills: Actuarial consulting, Risk management, Financial forecasting, Data analysis, Mathematical modeling, Statistical techniques
Job industry: Insurance

How much does Actuarial Consultant make?

Difference in salary year over year or average salary increase is approximately 4 %


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Salary comparison to National average

Is Actuarial Consultant a well paid job?

Yes, our data show that Actuarial Consultant is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Actuarial Consultant?

High salary for Actuarial Consultant would be somewhere between 8,776,700 NGN and 11,569,286 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Actuarial Consultant in Nigeria?

Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 7,978,818 NGN
Estimated Monthly Salary: 664,902 NGN
Estimated Weekly Salary: 153,439 NGN per week
Estimated Hourly Salary: 3,836 NGN per hour
By working as Actuarial Consultant a person can save up to 589 USD per month or 7,070 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Nigeria, see costs of living in Nigeria.

Salary comparison to region and neighbouring coutries

Country's neighbours are: Niger, Chad, Cameroon, Benin.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Actuarial Consultant

Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

0 years (beginner) equals base salary

1 to 5 years of experience yields +12% salary increase

6 to 10 years of experience yields +25% salary increase

11 to 15 years of experience yields +16% salary increase

16 to 25 years of experience yields +9% salary increase

more than 25 years of experience yields +10% salary increase

NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Nigeria

Data as of 2025

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