Only one in 20 Nigerians earns above N1m monthly – PiggyVest
- The share of Nigerians earning ₦1 million or more monthly rose to 5% in 2025 from 2% in 2024.
- Inflation, especially on food, is widening the gap between earning more and living better.
- Nearly three in five Nigerians report earning below ₦100,000 monthly or having no income.
The findings from Piggyvest's report illustrate a troubling economic reality in Nigeria where nominal income growth does not translate into improved living standards due to rampant inflation. This situation calls for urgent policy interventions to address inflation and enhance income diversification to foster financial stability among Nigerians.
