3 in every 10 workers in Nigeria earn less than ₦100,001 monthly

The Nigerian Workplace Report indicates that over 50% of Nigeria’s working population earns less than ₦200,001 monthly. It further highlights that individuals earning above ₦600k are among the top 10% earners.

Source:

The Nigerian Workplace Report 2024

Period:

2023-2024
HTML code to embed chart
Want a bespoke report?
Reach out
Click to copy HTML embed code
Tags
Related Insights
FirstBank’s planned headquarters will have more floors than its FUGAZ peers
  • FirstBank's planned headquarters will have 43 floors, nearly double UBA‌'s HQ.
  • Among the five FUGAZ banks, three currently have headquarters with 15 floors or fewer.
  • FirstBank’s existing HQ has only 15 floors, showing how big the planned leap is.
  • UBA’s HQ in Marina leads the pack among existing HQs, with 23 floors, followed by Access Bank with 16 floors.
  • The new FirstBank property in Eko Atlantic will be the tallest bank HQ in Nigeria by a wide margin when completed.
Lebanon and Nigeria lead global millionaire decline, down 60% and 53% in 10 years amid capital flight
  • Lebanon and Nigeria top the global list, recording millionaire population declines of -60% and -53% respectively over the past decade.
  • Three African countries, Nigeria (-53%), Angola (-36%), and South Africa (-12%), appear in the top 10, signalling a regional pattern of wealth erosion.
  • Pakistan (-40%), Egypt (-26%), and Argentina (-22%) rank among the top 10, showing that sharp millionaire losses extend beyond Africa into Asia and Latin America.
  • The average millionaire decline across the top 10 countries is over 33%, highlighting a widespread erosion of wealth in politically and economically vulnerable regions.
Of the 138 million children (5-17 years) in child labour globally, nearly 70% are in Africa
  • In 2024, nearly 138 million children globally are still involved in child labour.
  • Africa accounts for 94.5 million (68.7%) of these children — the largest regional share.
  • Four in 5 child labourers under age 12 are based in Africa.
  • The global goal to end child labour by 2025 was not achieved.
  • Child labour has fallen by over 100 million since 2000, despite global child population growth.
Lagos’ population has grown by about 25% on average every 5 years since 1965
  • Lagos has grown from 325,200 in 1950 to a an estimated 17.2 million in 2025
  • The State’s fastest 5-year growth came between 1955–1960 at 62.7%.
  • Since 2000, growth has steadied around 18–20% every 5 years.
  • More than 10 million people added between 2000 and 2025 alone.
  • Growth continues to outstrip investments in housing, transport, and basic services.
By 2054, India is projected to remain the world’s most populous country, growing by 17.1% from 2024 to reach 1.69 billion people
Key Takeaways:
  • India is projected to remain the world’s most populous country in 2054, reaching 1.69 billion, an increase of 246 million from 2024.
  • China’s population is expected to decline to 1.22 billion by 2054, marking a 14.1% decrease.
  • Nigeria is projected to rise to 5th place globally, with a population of 374 million, a 62% increase from 2024.
  • The United States remains the only high-income country in the top five, with a projected population of 384 million.
  • Pakistan is expected to climb from 5th to 3rd place, adding 138 million people by 2054.
  • Three African countries (Nigeria, Ethiopia, and the Democratic Republic of the Congo) are expected to rank among the top 10 most populous nations.
  • Russia is projected to see a population decline of 6.9%.
By 2100, seven African nations are expected to rank among the world’s 15 most populous countries, with Nigeria’s population projected to more than double
Key Takeaways:
  • India is projected to remain the world’s most populous country in 2100, with 1.5 billion people, a 4.5% increase from 2024.
  • China’s population is expected to fall sharply by 55.1% to 638.7 million, less than half of its 2024 population.
  • Pakistan's population is expected to nearly double by 2100.
  • Nigeria is projected to become the world’s fourth most populous country by 2100, with a population of more than 470 million.
  • Seven of the 15 most populous countries in 2100 are expected to be in Africa.
  • The United States is projected to rank sixth globally by 2100 from its current third position, despite a 22.2% expected population increase from 2024.
  • Together, the top 15 countries are expected to account for 57.9% of the global population by 2100.
  • The total world population is projected to reach 10.19 billion by the end of the century.
POPULAR TOPICS
SIGN UP TO OUR NEWSLETTER
Get periodic updates about the African startup space, access to our reports, among others.
Subscribe Here
Subscription Form
A product of Techpoint Africa. All rights reserved