₦airaland Forum

Nice2023:
The real middle class in Nigeria are individuals and families who have a moderate income level, typically earning between N500,000 to N10,000,000 ($1,200 to $24,000) per year. They often hold white-collar jobs in sectors such as banking, finance, education, healthcare, and technology. The middle class in Nigeria is characterized by their ability to afford a decent standard of living, including owning their own homes, sending their children to good schools, having access to healthcare services, and possessing some discretionary income for leisure activities and savings. They typically reside in urban areas, particularly in the major cities like Lagos, Abuja, and Port Harcourt. The middle class in Nigeria is considered the backbone of the economy and plays a vital role in consumer spending and economic growth.

That's 41k per month? Do you even know what u saying?
The people with that amount in this current economy are the less privilege!

mu2sa2:
It's cut your coat according to your CLOTH .

Oshey grammar Nazi. I fit dash you cloth wey no be your size, it still would be your cloth. Does that mean you will sew all your clothes after that using the dimensions of the cloth you were gifted? Don't talk to me about English abeg. I'm a Yoruba man.

Wainey:
rent in banana island is 20m above.
Two months salary can cover that, so yes you can live in BI with N10m

We are talking annual salary here, not monthly.

Wilson500:
See this one
Igbos are just the loudest noisemakers on social media
90% my foot
Abeg shift

You're funny.

That guy is right.

With a sales of 300k+ per day, 9m+ per month, 108million per year, one will definitely be in the high/upper class level.

Note: I only calculated this base on the everyday average business premise sales, I didn't include the business deals such supplies etc.

We don't have middle class in this country.

franchasofficia:
Anybody earning less than 1million naira a month in Nigeria is poor, even though the person might not know that he or she is poor.



But some of those girls earning 50k salary a month which gives 600k naira a year are not poor due to their gender that gives them an edge to earn extra income from prospective lovers, toasters, sugardaddies, boyfriends, hookups, etc. Such that at the end of the year if you check their total income, it may even be up to 5million or more a year depending on how hot and free the girl is in mingling with men

You people just like to talk anyhow. So Profs, doctors, army generals are poor?. You better shut up

Draslo:
Oshey grammar Nazi. I fit dash you cloth wey no be your size, it still would be your cloth. Does that mean you will sew all your clothes after that using the dimensions of the cloth you were gifted? Don't talk to me about English abeg. I'm a Yoruba man.

Even as a yoruba man, you sure have heard before that no man is above mistake. If you haven't, now you know. Peace!

lawani:
You people just like to talk anyhow. So Profs, doctors, army generals are poor?. You better shut up

You don't have understanding sorry.


Annual salary = monthly salary x 12.


So Lecturer or Prof or Army Colonel not even General earn less than 3million a year.



Meanwhile, in Nigeria, due to corruption, their official salary may be 300,000 naira monthly, but at the end, they may earn 3million a month from other illegal engagements like student sorting, road bribery, sale of poorly written handouts, and other office racketeering that is common with Nigerian civil and government workers

mu2sa2:
Even as a yoruba man, you sure have heard before that no man is above mistake. If you haven't, now you know. Peace!

It was no mistake. I prefer using size to cloth in that context. It makes more sense.

Draslo:
It was no mistake. I prefer using size to cloth in that context. It makes more sense.

It's a fixed expression - it's wrong usage to rearrange the words.

bravehost4u:
Your statistic may justify a particular location but cannot serve as a yardstick to classify one as a middle class.
My Location:
Rent : 360k (2 bed flat in a Middle class area)
Power : 60k (Prepaid meter@5k monthly)
Petrol/Diesel (car, business home) :
Break down (petrol): Car -15k weekly = 780k
Home - 10k weekly = 520k Install 2.5kva inverter with 450k to last for 3 years i.e 150k per year
Businesses - 30k weekly I don't understand this. Fuel for business is an overhead cost and should vary positively with Profit , this does not fit for a salary earner
Total for petrol : 2.86m 930k
Feeding : 1.08m at 3k daily
Miscellaneous : 1.5m for a single person this is high. 50k monthly is okay. i.e 600k per annum
Village People problems : 1m No go dey do pass your self; 300k is fine

Total is 3.33m...
500k monthly salary for 1 year is 6m.
you will have excess of 2m at the end of the year to invest in other sources of income.

Are an accountant or financial adviser - this post is fantastic

The middle class earn between 2/3rd of the national median income of 339,000 (around 230,000) to double that (660,000). I personally believe that the max value is much more higher. Going into the millions. In fact, I think anything less than 2.5 million is still middle class. Also, you can be earning 5 million a month and still be middle class. You're only rich if you have income generating assets (businesses, schools, etc) and those assets attracts little or no liabilities. E.g. you own the land and building on which your business is built. Middle income earners can own businesses, but they are more likely to rent the building than actually owning it

tobstarizhia:
The middle class earn between 2/3rd of the national median income of 339,000 (around 230,000) to double that (660,000). I personally believe that the max value is much more higher. Going into the millions. In fact, I think anything less than 2.5 million is still middle class. Also, you can be earning 5 million a month and still be middle class. You're only rich if you have income generating assets (businesses, schools, etc) and those assets attracts little or no liabilities. E.g. you own the land and building on which your business is built. Middle income earners can own businesses, but they are more likely to rent the building than actually owning it

Your definition of the middle class is sensible because to own a building housing your business will be close to twenty million naira if not in Lagos but it can help you with bank guarantees, your character and long standing can also help you with credit. So if you have only a few millions of your own as liquidity but own your premises, you are not really middle class if you have long standing and character

meum:
No middle class.

In Nigeria what we have are
1. High class
2. Low class &
3. No class/classless (the poorest of the poor).

Whaaaaat? 🤣