What salary would you earn to live a life of comfort in Nigeria?
Many times on social media, there are raging debates about how much you have to earn to be comfortable in Nigeria.
What’s comfort for a Nigerian?
Good accommodation, car(s), an alternative means of electricity (generator or inverter), children attending good schools, access to health care, decent meals every day and enough money for entertainment, recreational activities and travel.
How much does the average Nigerian earn?
According to Statista, the average individual Nigerian earns ₦43,200 and a family earns ₦137, 600. In 2020, the minimum wage was increased to ₦30,000.
How much does an average Nigerian need to earn to live comfortably?
Is ₦400,000 enough for a comfortable life? That question does not pose an easy reply because it simply doesn’t exist. Comfort levels differ as one earns more. The area you would live in when you earn ₦100,000 won’t be the same area you would love to live in when you earn ₦350,000 – people’s taste always changes to match their income. At the end of the day, it might not seem like they are earning much anymore.
The top paying jobs in Nigeria?
1. Bank CEOS and executive positions in companies
Recent data revealed how much bank CEOS earn. Zenith Bank CEO was said to earn about 70 million, Access Bank CEO earns ₦73 million. Some earn up to ₦200 million per month.
Typically, if you are part of the management team of a successful company, your salary range should be in millions of naira and that’s a highway to a comfortable life.
2. Tech roles
Front-end developers, back-end engineers, project managers, UI/UX Designers and so on. In the world of technology, positions are fiercely competitive yet highly desirable. Although not everyone in the field earns a comfortable salary, many are compensated in dollars and enjoy generous pay.
3. Consultant physicians
Consultants doctors in hospitals are one of the well-paid people in the country, earning at least ₦800,000
4. Members of the House of Representatives and Senate
According to reports, they earn upwards of ₦13 million asides allowances. Not bad at all.
5. Corporate Lawyers
Very few lawyers get paid the big bucks but the ones who do are involved in corporate transactions and they earn a lot of money.
6. Pilots
Flight captains and senior pilots earn millions, perhaps the risk and how it is highly sought after contributes to this.
7. Accountants
Senior accountants and managers, especially in the big four accounting companies, PwC, KPMG, Deloitte and EY are well paid and earn in million naira.
Comfort in Nigeria is hard to come by. How much do you have to earn to avoid potholes and bad roles? What about fuel queues and epileptic power supply? Money cannot override a bad system, no matter how much you earn. At the end of the day, you will find yourself spending money trying to buy yourself an elusive comfort.
