₦airaland Forum

Lagos, Nigeria’s economic powerhouse, is a city of contrasts. While the big buildings in its business districts signify wealth and ambition, its residents’ salaries tell a different story. If you earn more than ₦200,000 monthly, you’re an outlier in Nigeria’s commercial capital. Most people who work in Lagos (78%) earn less than ₦100,000.

These data points are from the State of the Employed report by PaidHR, a Nigerian startup that helps businesses manage their HR functions. The company spoke to over 1,600 employees—half of whom are 19 to 35—and employers in Lagos.

“[The report] helps us understand the plight of people who earn salaries, spotlighting how they earn it, where they earn it, and what their earnings enable them to do,” said Seye Bandele, PaidHR CEO.

As Nigeria’s cost-of-living crisis deepens, half of working Lagosians spend more than they earn monthly. They resort to second income streams to supplement those earnings.

These workers (51.2%) have no income left after covering necessities like food, transport, rent, and utility payments. Food is the most significant of those bills, with workers spending ₦54,000 on food monthly—that number used to be ₦38,000 in 2023. Transport costs also jumped from ₦16,000 monthly in 2023 to ₦22,000 in 2024.

Only a few people (30%) have budgets for recreation, and saving is a similar luxury.

For those who do manage to save, the primary motivation is rent. Overall, men tend to save more than women, particularly married men. However, single women save more than single men.

While credit solutions are crucial for navigating economic hardships, the report reveals a significant gap in access. 70% of Lagos workers lack employer-backed loans or credit facilities. This presents an opportunity for digital lenders to develop credit solutions tailored to these specific needs.

The nation’s economic woes have also affected the productivity of these workers. 55% of workers surveyed said the country’s economy has affected their productivity at work. While financial strain is a key factor, a surprising 58% of respondents blamed their mental health and lack of employer support for poor performance at work.

Shevchenkko:
That's why there are too many homeless people over there

EmperorCaesar:
Shevy Chimunanya, You should worry more about those outside Lagos, cause if the land of opportunities have this level of low-earners and huge number of 'homeless people', then it will definitely be very worse elsewhere

No be to dey throw shades at all times. Those wey u dey mock still dey ahead of other

Shevchenkko:
That's why there are too many homeless people over there

obonujoker:
Liveability indicators
1 — 🥷Stability
2 — 🏥Healthcare
3 — 🪘Culture & Environment
4 — 📚Education
5 — 🚧Infrastructure

2024 LEAST LIVEABLE CITIES

TOP 10
1 🇸🇾Damascus, Syria
2 🇱🇾Trioli, Libya
3 🇩🇿Algiers, Algeria
4 🇳🇬Lagos, Nigeria
5 🇵🇰Karachi, Pakistan
6 🇧🇩Dhaka, Bangladesh
7 🇿🇼Harare, Zimbabwe
8 🇵🇬Port Moresby, Papua N Guinea
9 🇺🇦Kyiv, Ukraine
10 🇻🇪Caracas, Venezuela

#Statisense
(The Economist)

The lack of state-owned pipe-borne water in the homes of Lagos residents has continued to be a source of concern, a non-profit group, Corporate Accountability and Public Advocacy Africa (CAPPA) has said.

At a press event to mark this year’s World Water Day, the group said its monitoring team’s visit to state-owned waterworks showed that most of them are not operational.

The group said the waterworks it visited include the ones at Maryland, Mushin, Ikorodu, Obalende, Agbowa, Onikan, Ikoyi, and Amuwo Odofin.

Only the one in Ikoyi is producing water, according to CAPPA.

https://www.premiumtimesng.com/regional/ssouth-west/450615-world-water-day-lagos-water-crisis-worsening-group-says.html

A 45-year-old resident and father of three, Mr.Fatai Lamide told PUNCH HealthWise that no building in the community has toilet facilities.

The Oyo State-born mechanic said, “We don’t have toilet in this area, including our compound. This canal that you see serves as toilet to all of us living in this area. We defecate inside nylon and throw it inside the canal.

“For people that don’t want to use nylon, they have a special bucket that they use after which they pour it inside the canal too.

https://punchng.com/cholera-outbreak-looms-in-lagos-communities-as-residents-use-canal-lagoon-as-toilet/

Nazgul:
More than 60% earn less than 300k. Yet inflation keeps rising daily.

My landlord sent us a message telling us that our rent has increased. The increment was by 500k. So from next year, we'll be paying an additional 500k to the already existing amount.

This is what most Nigerians are going through. That one is just rent, other sectors are experiencing inflation as well.

Menclothing1:
The report is wrong ordinary car. Wash make minimum 10k a day per person in Lagos


If lagos make 100k then other state will be 50k

adioolayi:
....and some GenZ will be here talking nonsense about economic indices.

You go see them saying 100k salary should not be collected...those wey dem still dey feed.

Some go even start arguing on why 200k salary is a very poor income...wey no one suppose dey collect.

While credit solutions are crucial for navigating economic hardships, the report reveals a significant gap in access. 70% of Lagos workers lack employer-backed loans or credit facilities. This presents an opportunity for digital lenders to develop credit solutions tailored to these specific needs.