Graphics: The ₦500,000 ticket into Nigeria’s middle class
Income data on Nigeria's population.  Source: Stears Business

Location - and even more specific postcodes or zip codes - can be a good indicator of a person’s finances; from income to spending, saving and investment habits. So we decided to see what income looked like across several states in Nigeria - given the noticeable growing wealth gap.

Based on World Bank data, the annual Gross National Income (GNI) per capita (Current Local Currency Unit) for Nigeria in 2019 was ₦700,978. Gross National Income (GNI) is a measurement of a country's income i.e. earnings by residents, businesses, and from foreign sources.



GNI per capita, as measured in the local currency, has been growing quite significantly in the last two decades.

Unfortunately for Nigerian’s planning to spend some of that income abroad, the

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Abdul Abdulrahim

Abdul Abdulrahim

Read Latest

What is Nigeria’s best chance at high economic growth?

PREMIUM - 05 OCT 2022

How do mini-grids provide electricity in cities?

PREMIUM - 04 OCT 2022

Pound getting pounded: What can Nigeria learn from the UK?

PREMIUM - 30 SEP 2022

Why Nigeria's population should matter to its next President

PREMIUM - 29 SEP 2022

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download