The middle class make up about 23% of the Nigerian population, according to African Development Bank (AfDB) data. They are well educated – 92% have obtained post-secondary education or have studied at an institution of higher learning.
What is the definition of middle class in Nigeria?
According to Pew Research reports median, middle-income three-person household earns about $45,000 /N16. 2m to $135,000/N48million. For a single income earner, a salary of around $26,000 to $78,000 qualifies one as middle-income.
Is there a class system in Nigeria?
The social structure in Nigeria is the hierarchical characterisation of social status, historically stratified under the Nigerian traditional rulers and their subordinate chiefs, with a focus on tribe and ethnicity which continued with the advent of colonisation.
What is the average income of a Nigerian?
Living Wage Individual in Nigeria averaged 42500 NGN/Month from 2015 until 2018, reaching an all time high of 43200 NGN/Month in 2018 and a record low of 41800 NGN/Month in 2015. Nigeria Living Wage Individual – values, historical data and charts – was last updated on November of 2021.
What percentage of Nigeria is upper class?
The report also stated that national income/expenditure of the upper class (the rich) which makes up only about 10% of the population had been rising between 2004 and 2013, reaching 59.42% in 2013 and declined slightly to 58.39% in 2016, while the middle class accounted for just 30.26% in 2016 from 29.14% in 2013, a …
Is Nigeria’s middle class growing?
Nigeria’s growing middle class accounts for approximately 23% of the population and is estimated to have a combined buying power in excess of US$28 billion.
How much does middle class earn in Nigeria?
Our findings about the Nigerian middle class are summarised below: Their average monthly income is in the range NGN75,000-100,000 ($480- 645, or roughly $6,000-7,000 pa). The middle class make up about 23% of the Nigerian population, according to African Development Bank (AfDB) data.
How many middle class do we have in Nigeria?
Numbers nonetheless are still relatively small: only 7.6 million households (roughly 40 million people) qualify for middle class status. Nigeria gets the lion share, of these 7 million, 4.1 million are Nigerians.
What is upper class income in Nigeria?
The survey estimates that of the estimated 169 million people in Nigeria only 3.3 million people are classified as upper class (earning above USD 140,000 p.a.) whilst more than 49 million people earn less than USD 1,400 per annum (p.a.).
This paper will attempt to bring some of these class definitions to life by describing the lives of three Nigerians; one categorized as lower middle class, another as upper middle class, and a third in the upper class. All three are working in well-established international or multinational organizations.
What is the lowest paying job in Nigeria?
Here’s a rundown of the ten jobs that are among the lowest paying in Nigeria.
- Top 10 Lowest Paying Jobs in Nigeria 2020.
- Marketing Job. …
- Maids and Cleaners. …
- Private school teacher. …
- Laundry and Dry-Cleaning Workers. …
- Manicurists and Pedicurists. …
- Bartenders. …
- Waiters and Waitresses.
Which is the highest paid job in Nigeria?
Highest Paying Jobs in Nigeria and their Salary
- Surgeons. Due to the critical nature of their job, Surgeons top the list of the highest paying jobs in Nigeria. …
- Pilots. …
- Judges. …
- Medical Doctor. …
- Sailor. …
- Lawyers. …
- Petroleum Engineer. …
- Military Officer.
How much money do you need to live comfortably in Nigeria?
Summary about cost of living in Lagos, Nigeria: Family of four estimated monthly costs are 1,951$ (799,542₦) without rent. A single person estimated monthly costs are 534$ (218,790₦) without rent.
Is Nigeria a middle income country?
The economy of Nigeria is a middle-income, mixed economy and emerging market, with expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDP, and the 24th-largest in terms of purchasing power parity.
What percent of Nigerians are wealthy?
Nigeria – Poverty and wealth
|Distribution of Income or Consumption by Percentage Share: Nigeria|
Sociologists disagree on the number of social classes in the United States, but a common view is that the United States has four classes: upper, middle, working, and lower. Further variations exist within the upper and middle classes.