Nearly three‑quarters of salaried Nigerians earn under ₦200,000 per month, according to a nationwide online poll conducted by Zikoko in June 2026. The study gathered more than 5,000 valid responses from all six geopolitical zones, revealing that a large share of workers struggle to keep pace with rising living costs.
Key findings from the survey
- 12% of respondents earn below ₦50,000, despite the national minimum wage being set at ₦70,000 in July 2024 by President Tinubu.
- 31% earn between ₦50,000 and ₦100,000, while another 32% fall in the ₦101,000‑₦200,000 bracket.
- Only 1% of those surveyed report earnings above ₦400,000.
- 82% say inflation has eroded their purchasing power, yet just 18% feel their income has kept up with price rises.
- 79% lack emergency savings that would last three months, and 38% could not survive even a single month without their primary income.
> "A lot of our real lives are built around financial constraints," noted > Cowrywise on X on 8 October 2026.
What does the salary distribution look like?
The breakdown shows a steep concentration at the lower end of the pay scale. Workers earning under ₦50,000 represent 12% of the sample, while those in the ₦50,000‑₦100,000 range account for 31%. The middle‑income band (₦101,000‑₦200,000) captures 32%, and the remaining 17% earn between ₦201,000 and ₦400,000. Very few respondents—about 2%—make between ₦401,000 and ₦700,000, and less than one percent exceed ₦1 million.
How are different age groups affected?
Generation Z respondents fare the worst: over 75% earn less than ₦100,000, and 38% earn under ₦50,000. Among millennials, 47% fall below the ₦100,000 threshold. Only roughly 1% of Gen Z participants report earnings above ₦400,000.
Why is inflation a major concern?
Inflation in Nigeria peaked at 34.80% in December 2024 and stood at 15.91% in June 2026. A rebasing of the consumer price index in January 2025 altered the measurement methodology but did not translate into lower consumer prices. Consequently, 82% of surveyed workers say price hikes have weakened their buying power.
What consumes most of respondents’ income?
- Food: 45%
- Rent and housing: 22%
- Transport: 9%
- Family support: 8%
- School fees: 8%
A recent investigation by the Guardian highlighted a dramatic rise in Lagos housing costs, with a multi‑bedroom flat jumping from roughly ₦500,000 per year in 2024 to as much as ₦2.5 million in 2026.
How do Nigerians cope financially?
Side‑hustles are common: 31% of respondents engage in additional work, and for a third of them the side income now exceeds their primary salary. Nevertheless, two‑thirds of side‑hustlers still earn under ₦100,000 from these activities, and only 3% generate more than ₦400,000.
Retirees are not exempt from hardship. Fifty‑five percent of pensioners receive less than ₦100,000 a month, and 46% rely on a second source of income. The report notes that 93% of retirees obtain financial assistance from family or friends, pushing the burden onto younger generations.
What does the data say about savings?
Nearly 79% of participants admit they would not survive three months without their main earnings, while 38% say they could not last even a single month. Over the past year, 41% experienced at least one month with no income at all.
Overall, the Zikoko State of Income Report 2026 paints a stark picture of wage stagnation, high inflation, and limited financial buffers for the average Nigerian worker.