4 Ways People Earn in Nigeria – Where Do You Belong?

The cost of living is constantly rising in Nigeria, From fuel to food, everything seems to be getting more expensive. 

With minimum wage still stuck at ₦70,000 and inflation biting harder each day, many Nigerians are simply trying to get by. But have you ever paused to ask yourself: “How do I compare with others financially?”

Well, most Nigerians fall into one of four income groups. These classes are based on how much people earn in a year or month. It’s not about showing off or feeling bad, it’s just about knowing where you stand, so you can plan your life better.

Let’s break it down in simple terms.

The Bottom 50% – Earning the Least

This is the largest group in Nigeria, half of the population. Most people here earn less than ₦65,000 a month. That’s about ₦2,000 or less per day.

You’ll often find these people working hard in informal jobs like bus conductors, market traders, cleaners, artisans, or even part-time workers who don’t have a steady salary.

They’re doing their best, but with rising food prices, poor healthcare access, and rent to pay, survival is tough. This group earns only a small piece of Nigeria’s total income,  just around 15%.

If you’re in this group, it’s not your fault. The system is hard. But knowing where you stand helps you figure out your next step.

The Middle 40% – The Squeezed Strugglers

This group is usually called the middle class. They earn around ₦360,000 per month, or just over ₦4 million a year.

It includes teachers, civil servants, small business owners, freelancers, and mid-level office workers. At first glance, this income sounds decent, but when you factor in rent, fuel, school fees, and feeding, it doesn’t stretch very far.

This group does a lot of the work that keeps the country running, yet they often feel like they’re just one emergency away from financial stress. They earn about 42% of the nation’s total income.

The Top 10% – Upper Class Nigerians

Only 1 out of every 10 people belongs here. These Nigerians take home almost ₦900,000 monthly, about ₦10 million yearly.

They include senior managers, doctors, top lawyers, directors in private companies, tech professionals, and even lower-level politicians.

On paper, they should be very comfortable cars, property, holidays. But even they’re not completely safe from Nigeria’s inflation problem. Many are finding that their money doesn’t go as far as it used to. Still, this group controls nearly 43% of the country’s total income.

The Top 1% – Nigeria’s Super Rich

Now we get to the top of the ladder, the ultra-wealthy. This group earns an average of ₦4 million every month or ₦48 million in a year.

They are the billionaires, big-time business owners, political heavyweights, oil bosses, and major investors. Their wealth often comes from multiple sources: businesses, investments, real estate, government contracts, and global deals.

Though they make up only a tiny part of the population, they earn more than the entire bottom half of Nigeria combined. That shows just how wide the income gap is in the country.

So where do you fall?

Whether you’re hustling in the informal sector, trying to stretch a middle-class salary, or building your way up the ladder, knowing your income group can help you:

• Make smarter money decisions
  
• Set realistic financial goals
  
• Understand the kind of support or opportunities you might need
  

The goal isn’t to compare or feel bad. It’s to be aware. And from awareness comes progress. So again, ask yourself, where do you belong and where do you want to be next?