Financial Literacy

Step Up Your Money Game.

Build your wealth confidence — saving, investing, and wealth-building explained in plain language.

Sponsored Post

Want to Be Part of the Conversation?

Sponsor a post on Serrari and have your brand share the spotlight with market insights our readers trust.

Sponsored

If Your Brand Had a Front-Row Seat to the Markets… This Is It.

Advertise on Serrari.

Advertise on Serrari

Thanks for your interest in advertising with Serrari Group! Fill out the form below to get our Rate Card and explore partnership opportunities.

Your first and last name
The brand or company you represent
Where we'll send the Rate Card and follow-up
Optional — helpful if you prefer a quick call
Optional — your company website
Select all that apply
Helps us recommend the right options
Anything else we should know?
Africa Economic NewsMacro Economic News

Nigeria Implements Significant Salary Increase for Civil Servants

Share
Share

Nigeria’s Federal Government has recently approved a substantial salary boost, ranging between 25% and 35%, for civil servants across multiple consolidated salary structures. Effective January 1, 2024, this enhancement encompasses six key structures, including the Consolidated Public Service Salary Structure (CONPSS), 

Consolidated Research and Allied Institutions Salary Structure (CONRAISS), Consolidated Police Salary Structure (CONPOSS), Consolidated Para-military Salary Structure (CONPASS), Consolidated Intelligence Community Salary Structure (CONICCS), and Consolidated Armed Forces Salary Structure (CONAFSS).

Previously, targeted salary increments were allocated to specific sectors like tertiary education and healthcare, addressing structures such as the Consolidated University Academic Salary Structure (CONUASS), Consolidated Tertiary Institutions Salary Structure (CONTISS), Consolidated Polytechnics and Colleges of Education Academic Staff Salary Structure (CONPCASS), Consolidated Tertiary Educational Institutions Salary Structure (CONTEDISS), Consolidated Medical Salary Structure (CONMESS), and Consolidated Health Sector Salary Structure (CONHESS).

This initiative, aimed at enhancing the financial well-being of civil servants, acknowledges their invaluable contributions to the nation’s development. Additionally, the government has approved pension increases, ranging from 20% to 28%, for pensioners enrolled in the Defined Benefits Scheme within the aforementioned consolidated salary structures, effective January 1, 2024.

The decision underscores the government’s commitment to improving the welfare of its workforce and ensuring the dignity and security of retired personnel, without resorting to exaggeration or redundancy.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

2nd May, 2024

Share
Share

Follow Us

Money & Life Transformation Blueprint
Build and grow
your wealth.
Stop Guessing With Your Money. Start Building Wealth With Confidence.
Know exactly how to grow your wealth in the next 12 months
Increase your savings & investments by 20–40% in 6 months
Build your first Ksh1 million portfolio with confidence
Stop guessing. Start compounding.
Turn Your Income Into Wealth
$4.99 /mo
Money & Life Transformation Subscribe Now →

Enjoying Serrari? Let others know!

School teaches you how to earn money, Serrari teaches you how to build wealth
Step up your money game.
Build your wealth confidence — saving, investing, and wealth-building explained in plain language.
Start your wealth builder journey
Daily Dispatch

Stay Ahead of the Money Market Fund (MMF), Bonds, Fixed Deposits and More.

Stop guessing with your money. Get market intelligence, investment insights, and wealth-building strategies — delivered weekly. Kenya, Africa, and global markets.

No spam 1 min weekly Free forever
Enjoying Serrari? Let others know!

Rate Serrari on Trustpilot

Your review helps us improve and helps others discover Serrari

Click below to share your experience with Serrari. It takes less than a minute, and your feedback means the world to us.

Write My Review

Explore more

Advertise on Serrari

Thanks for your interest in advertising with Serrari Group! Fill out the form below to get our Rate Card and explore partnership opportunities.

Your first and last name
The brand or company you represent
Where we'll send the Rate Card and follow-up
Optional — helpful if you prefer a quick call
Optional — your company website
Select all that apply
Helps us recommend the right options
Anything else we should know?

Speak to a Wealth and Financial Analyst

Get personalised investment guidance for your goals.

Speak to a Wealth and Financial Analyst →