Loan Servicing Specialist salary in Nigeria

Average Yearly Salary of Loan Servicing Specialist in Nigeria is approximately 3,192,304 NGN (3,819 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 Servicing Specialist do?

A loan servicing specialist is responsible for managing and overseeing the repayment process of loans. They work in financial institutions, such as banks or mortgage companies, and act as a liaison between borrowers and lenders. Their main duties include processing loan payments, maintaining accurate records of loan transactions, and ensuring compliance with loan terms and regulations. Loan servicing specialists also handle customer inquiries, resolve any issues or disputes related to loan payments, and assist with loan modifications or refinancing requests. They must have a strong understanding of loan products, financial regulations, and excellent communication skills to effectively communicate with borrowers and provide them with accurate information.

Skills: loan servicing, financial institution, loan repayment, customer service, loan management, compliance.
Job industry: Finance

How much does Loan Servicing Specialist 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 Servicing Specialist a well paid job?

No / we do not have enough data to assess this.

What is considered a high salary for Loan Servicing Specialist?

High salary for Loan Servicing Specialist would be somewhere between 3,511,534 NGN and 4,628,841 NGN. However this is an estimation based on Gaussian Distribution.

How much can you save working as Loan Servicing Specialist 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: 3,192,304 NGN
Estimated Monthly Salary: 266,025 NGN
Estimated Weekly Salary: 61,390 NGN per week
Estimated Hourly Salary: 1,535 NGN per hour
By working as Loan Servicing Specialist a person can save up to 113 USD per month or 1,352 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 Servicing Specialist

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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