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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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.
The U.S. holds the largest IMF quota at 82.99 billion SDRs, exceeding the combined shares of Japan and China
  • The United States holds the largest IMF quota by far, with 82,994.2 billion SDRs, accounting for 17.42%, more than double the quota of any other country.
  • Japan, China, and Germany follow as the next largest contributors, each holding between 5.5% and 6.5% of total quota shares.
  • European countries (Germany, France, the U.K., Italy) collectively maintain a strong presence, together accounting for nearly 17.21%, almost equal to the U.S. alone.
  • Emerging economies like India and Russia have relatively modest shares (2.75% and 2.71%, respectively) despite their growing roles in global economic affairs, indicating an imbalance between global influence and IMF voting power.
Nigeria's youth demographic is evident as Gen Z and Millennials combined comprise over 50.1% of the population
  • Gen Z and Millennials combined make up just over half of Nigeria’s population at 50.1%.
  • Gen Alpha alone represents 35.6% of the total population — the single largest generational cohort.
  • Gen Z, born between the late 1990s and early 2010s, accounts for 25.8% of Nigerians.
  • Millennials make up 24.3%, maintaining a strong influence across work, culture, and consumer trends.
  • Gen X, typically born between 1965 and 1980, represents only 9.2% of the population.
  • Older generations (Baby Boomers and Silent Generation) account for just 5.1% of the total population.
  • Nigeria’s entire population under the age of 44 (Gen Alpha, Gen Z, and Millennials) represents approximately 85.7% of the total population.
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