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
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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
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  • 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.
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  • 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
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  • More than 10 million people added between 2000 and 2025 alone.
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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
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  • 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.
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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.
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