The Federal Ministry of Finance Salary Structure sheds light on one of the most significant government institutions in Nigeria. The Federal Ministry of Finance is in charge of managing the finances, budgets, and economic development of Nigeria.
As a developing nation, Nigeria still struggles with many issues, which need to be tackled by spending the national funds judiciously.
To alleviate these difficult struggles, the ministry employs many professionals which is evident from the developed salary structure.
This salary structure is built to ensure that they achieve their desired outcomes, both in managing the funds effectively and saving the nation’s resources for the future.
In this post, we will discuss the salary structure in detail, share insights around the pay grades, allowances, career progression opportunities available to the employees, and many more.
If you are looking to build your career at the ministry or are just interested in learning about the compensation structure there, then look no further, as this post will explain all the major concerns in detail.
Also read: Federal Inland Revenue Service (FIRS) Salaries in Nigeria in 2024
Introduction to the Federal Ministry of Finance
The Ministry of Finance is responsible for drafting and controlling the federal revenues and expenditures.
Below is a list of some of the major responsibilities of the finance department as they are highly important to the organization.
- Formulating fiscal policies enabling the smooth working of other ministries.
- Preparing the national budget is an essential element in planning for the coming business year.
- Monitoring public finance, minimizing any suffering from budget constraints, and freeing up funds.
- Managing debt and investments: Overseeing the nation’s debt portfolio and investment strategies.
The ministry operates under the Federal Government’s civil service structure, adhering to established salary scales and employment policies.
Entry-Level Salary at the Federal Ministry of Finance
Typically, most graduates of B.Sc. or B.A. degrees having their first employment are placed on level corresponding to Grade Level 08, at this grade, entry-level officers are paid:
- Basic salary: ₦99,000 – ₦ 115,000
- Total Monthly Package (with allowances): ₦ 135,000 – ₦ 160,000
- Annual Package: ₦ 1.6 million – ₦ 1.9 million
Those holding HNDs are placed on Grade Level 07 and will earn the least compared to the degree holders.
Mid-Level Officer Salary: Grade Levels 09 – 12
Senior accountants, finance officers, and economists are examples of mid- level officers within the Ministry of Finance which are usually at senior grade.
- GL 09 – GL 10: ₦150,000 – ₦220,000/month
- GL 11 – GL 12: ₦230,000 – ₦300,000/month
These officers receive incremental payments as well as further pay grade steps and increased rank boosts depending on their results and time served.
Senior Officers and Directors’ Salary: GL 13 – GL 17
At senior level, officers would be directors, deputy directors and assistant directors. For these positions, prior experience and in several cases post graduate studies is needed.
- GL 13: ₦ 320,000 – 360,000
- GL 14 – 15: ₦ 380,000 – 420,000
- GL 16 – 17: ₦ 450,000 – 650,000
Directors placed at GL 17 are likely receiving more than 8 million a year while excluding their extra duty allowances and project bonuses.
Allowances and Benefits
In addition to base salaries, staff of the Ministry enjoy various allowances, including:
- Housing Allowance: Up to 40% of annual basic salary
- Transport Allowance: Generally between 7% and 15% of salary, based on grade
- Utility Allowance: Fixed sum or a percentage of basic pay
- Meal Subsidy: Monthly or quarterly stipend to cover lunch and refreshments
- Leave Allowance: 10% of annual salary, paid during approved leave periods
- Medical Allowance: Partial or full reimbursement, based on institution policy
- Hazard/Post Allowance: Applicable to staff involved in high-risk assignments or postings
These allowances significantly boost total take-home earnings, sometimes increasing monthly compensation by 30-50% for certain grades.
Pension and Retirement Benefits
The Ministry operates under the Contributory Pension Scheme (CPS), regulated by PENCOM. Employees contribute a portion of their salary monthly, which is matched by the employer.
Upon retirement, staff are entitled to:
- Monthly pension payouts
- Gratuity (depending on service years)
Retirement bonuses for long-serving staff
Recent Changes and Salary Trends
The 2025 structure introduces moderate increases across most pay grades, primarily to address inflation and rising living costs.
Compared to 2024, basic salaries for entry-level officers (GL 03-07) have gone up by around 8%, while senior grades witnessed a 4-6% increment.
How Do the Ministry of Finance Salaries Compare to Other Sectors?
Public vs. Private Sector
Although high-ranking executives in oil or finance in the private sector have a higher earning potential compared to public sector workers, government employment offers job security, additional benefits like defined pensions, subsidized skills training, and reliable employment. Private sector administrative positions are often rivaled by the lower echelon salaries paid by ministries’ civil services.
Also read: Consolidated Public Service Salary Structure (CONPSS) in Nigeria (PDF Download)
Comparison Between Other Ministries and the Ministry of Finance
Other ministries have lower wage caps than the Federal Ministry of Finance but the latter provides critical discretion and higher paying allowances because of the primary sensitivity, nature, and demands of and towards its positions.
Ministries paying the most tend to have greater administrative work available and more positions allocated, which explains the reasoning behind paying higher primary allowances.
Final Thoughts on Federal Ministry Of Finance Salary Structure
Shaping a career in the Federal Ministry of Finance comes with strong long-term incentives, job security, and numerous opportunities to grow professionally. Knowing the 2025 salary framework and benefits allows you to map out your strategy, negotiate smartly, and shape your priorities to increase returns.
To gain more information concerning salaries, government employment, and help with other obligations related to acquiring civil service employment within the government, check out our comprehensive guides.
Disclaimer: The information provided in this post about salary reports is intended for informational purposes only. While efforts have been made to ensure accuracy, figures and details may vary depending on individual roles, locations, and organizational policies. Readers are advised to consult official sources or contact the relevant organization for the most up-to-date and precise information. This post does not constitute financial or career advice.