Loan Officer Consumer salary in Nigeria

Average Yearly Salary of Loan Officer Consumer in Nigeria is approximately 3,340,215 NGN (4,003 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 Loan Officer Consumer do?

A loan officer consumer is responsible for assisting individuals in obtaining loans for personal use. They work in financial institutions such as banks, credit unions, or mortgage companies. Their primary role is to evaluate loan applications, review credit histories, and assess the financial situation of potential borrowers. Loan officers consumer are knowledgeable about different types of loans, including personal loans, auto loans, and home equity loans. They guide applicants through the loan application process, explaining terms, conditions, and repayment options. Additionally, they may provide advice on improving credit scores and managing debt. Strong communication and customer service skills are essential for building relationships with clients and ensuring a smooth loan approval process. Accuracy and attention to detail are crucial in assessing risks and determining loan eligibility.

Skills: loan officer, consumer loans, financial institutions, credit history, loan application, customer service
Job industry: Finance

How much does Loan Officer Consumer make?

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


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Salary comparison to National average

Is Loan Officer Consumer a well paid job?

Yes, our data show that Loan Officer Consumer is an averagely well paid job that still allows for some yearly savings. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Loan Officer Consumer?

High salary for Loan Officer Consumer would be somewhere between 3,674,237 NGN and 4,843,312 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Officer Consumer 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: 3,340,215 NGN
Estimated Monthly Salary: 278,351 NGN
Estimated Weekly Salary: 64,235 NGN per week
Estimated Hourly Salary: 1,606 NGN per hour
By working as Loan Officer Consumer a person can save up to 128 USD per month or 1,536 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 Loan Officer Consumer

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.

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Data as of 2025

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