Only 2.4% of Nigerians earn above ₦200k per month

Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.

Source:

Nigerian Financial Services Market Report

Extracted from:

Nigerian Financial Services Market Report

<div style="text-align: center;"><a href="https://intelpoint.co/insights/only-2-4-of-nigerians-earn-above-%e2%82%a6200k-per-month/" title="Only 2.4% of Nigerians earn above ₦200k per month"><img src="https://intelpoint.co/wp-content/uploads/2024/08/Only-2.4-of-Nigerians-earn-above-₦200k-per-month-scaled.webp" style="width: 80%; height: auto; max-width:960px;-ms-interpolation-mode: bicubic; margin: 0 auto; display: block;" alt="Chart: Only 2.4% of Nigerians earn above ₦200k per month"/></a><br><span>Find more insights at <a href="https://intelpoint.co/insights?utm_source=Insight%20Embed&utm_medium=HTML&utm_campaign=Only+2.4%25+of+Nigerians+earn+above+%E2%82%A6200k+per+month" target="_blank" style="color: #4f9acc; text-decoration: none;">Intelpoint</a>.</span></div>Copied to clipboard!

Period:

2023

HTML code to embed chart

Want a bespoke report?

Reach out

Related Insights

Elon Musk tops the global wealth rankings with a fortune surpassing $300 billion as of March 13, 2025

Key Takeaways:

As of March 13, 2025, Elon Musk is the sole individual whose net worth exceeds $300 billion.
Mark Zuckerberg is recognised as the youngest member among the top ten wealthiest individuals globally.
The exclusive $200 Billion Club features just three members: Musk, Bezos, and Zuckerberg.
The combined wealth of the ten richest individuals in the world totals around $1.8 trillion.
Eight individuals in the top ten wealth ranking list hail from the United States.

As of March 6, 2025, Alice Walton ranks as the richest woman in the world with a net worth of $103.9 billion

Key takeaways:

The total wealth of the three richest women surpasses $259 billion.
Alice Walton is the only woman in the world whose net worth exceeds $100 billion.
These women share a legacy of inherited wealth that they have successfully transformed into increased wealth.
Each of the top three richest women holds a net worth greater than $70 billion.
The top three richest women in the world are engaged in philanthropic endeavours.

Nigeria’s richest man has a net worth of $23.9 billion, ranking him as the 86th richest person globally

Key takeaways:

The total wealth of Nigeria's top four billionaires amounts to $37.4 billion.
Aliko Dangote's fortune accounts for almost 64% of the overall wealth among Nigerian billionaires.
Dangote's net worth is more than three times the net worth of Adenuga, and nearly 16 times greater than Otedola's.
All four individuals accumulated their wealth primarily through entrepreneurial efforts.
The sources of wealth for Nigeria's four richest men span various sectors, including cement, telecommunications, agriculture, and energy.

Aliko Dangote, the richest man in Africa has a net worth of $23.9 billion as of March 6, 2025

Key takeaways:

Africa’s wealthiest individual, Aliko Dangote, is approximately twice as rich as Johann Rupert and Nicky Oppenheimer.
Each of the three richest men in Africa have a net worth exceeding $10 billion.
Aliko Dangote maintains his status as Africa's wealthiest man, with a fortune that surpasses his closest rival by more than $9 billion.
The cumulative net worth of the five richest men in Africa is around $65.2 billion.
The difference in net worth between Africa's richest man and the fifth richest man is $17.1 billion.

In Africa, there are 2,996 ultra-high-net-worth individuals (UHNWI) out of 626,619 worldwide.

The number of millionaires migrating is rising again after the impact of COVID-19 in 2020 and is now projected to reach 128,000 by 2024.