Nigeria's average monthly income for employed individuals ranges from ₦80,000 to ₦120,000, reflecting wide disparities across sectors and regions. This figure encompasses both formal and informal employment, where the minimum wage is ₦70,000 following a 2024 increase. Economic challenges like inflation and living costs in urban areas often erode purchasing power for many workers.
The National Bureau of Statistics data highlights that Nigeria's income landscape varies significantly by sector and location. In the formal sector, entry-level graduates earn between ₦50,000 and ₦150,000 monthly, with higher figures in banking, oil and gas, and telecommunications. For instance, MTN Nigeria offers entry-level salaries of ₦150,000 to ₦250,000, mid-level roles from ₦400,000 to ₦800,000, and senior positions up to ₦5 million monthly, including bonuses and benefits like health insurance.
Public sector workers, such as federal civil servants at Grade Level 07, start around ₦80,000 before allowances, while state employees often receive less amid payment delays. The informal sector, employing about 80 percent of the workforce per World Bank estimates, sees variable earnings; a Lagos mechanic might average ₦80,000 to ₦150,000 monthly but faces unpredictability.
Middle-class incomes in urban areas typically fall between ₦150,000 and ₦500,000, yet high costs in Lagos or Abuja strain budgets. A mid-level banker earning ₦280,000 described juggling rent, transport, and food, noting, “On paper, absolutely [middle class]. In practice, she’s one major medical emergency away from serious financial strain.” Household incomes average ₦150,000 to ₦300,000, often from multiple sources including side businesses and remittances.
Regional differences are stark: Lagos salaries buy less than equivalent amounts in northern states. Women earn 20 to 30 percent less than men in similar roles, exacerbating inequality. To counter this, many pursue skill development in tech or certifications, negotiate salaries, or diversify income through hustles, as economic shocks like fuel subsidy removal demand resilience.