Actuarial Manager salary in Nigeria

Average Yearly Salary of Actuarial Manager in Nigeria is approximately 10,414,167 NGN (12,483 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 Manager do?

An actuarial manager is a professional responsible for managing and overseeing the actuarial function within an organization. They play a crucial role in assessing and managing risks, analyzing data, and providing insights to support strategic decision-making. Actuarial managers work closely with senior management and other stakeholders to develop and implement risk management strategies, ensuring the financial stability and profitability of the organization. Their key responsibilities include leading a team of actuaries, conducting complex statistical analyses, developing and maintaining actuarial models, collaborating with underwriters and claims professionals, and ensuring compliance with regulatory requirements. Actuarial managers also provide guidance on pricing, reserving, and investment strategies, as well as contribute to the development of new products and services.

Skills: Actuarial management, Risk assessment, Data analysis, Strategic decision-making, Financial stability, Regulatory compliance.
Job industry: Insurance

How much does Actuarial Manager make?

Difference in salary year over year or average salary increase is approximately 3 %


Want to check how your salary compares? Submit your own salary here

Salary comparison to National average

Is Actuarial Manager a well paid job?

Yes, our data show that Actuarial Manager 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 Manager?

High salary for Actuarial Manager would be somewhere between 11,455,584 NGN and 15,100,542 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Actuarial Manager 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: 10,414,167 NGN
Estimated Monthly Salary: 867,847 NGN
Estimated Weekly Salary: 200,272 NGN per week
Estimated Hourly Salary: 5,007 NGN per hour
By working as Actuarial Manager a person can save up to 835 USD per month or 10,016 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 Manager

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

Random salary:
Asset management coordinator (5,011,820 NGN per year, pre-tax.)
Senior data quality analyst (4,878,726 NGN per year, pre-tax.)
Information technology officer (4,993,574 NGN per year, pre-tax.)
Jde analyst (4,216,342 NGN per year, pre-tax.)
Route sales representative (3,031,915 NGN per year, pre-tax.)

Feedback about these results