Lagos, Nigeria — 2026-01-26 Nigerian Workers’Take-Home Salaries Plummet Despite Nominal Earnings Growth. Lagos, Nigeria — Nigerian workers have seen a significant decline in their take-home salaries, despite nominal earnings growth in 2024, according to recent data from the Central Bank of Nigeria.
The discrepancy highlights the challenges faced by the nation’s workforce, with nearly half of Nigerians living below the national poverty line.
97 billion. This decline comes despite nominal earnings growth, indicating that the real value of wages has diminished.
The situation is further compounded by the country’s low unemployment rate, which stands at less than 5 percent.
However, the type of employment, whether wage or self — employment, plays a crucial role in determining an individual’s poverty status. Wage jobs offer a significantly lower poverty rate compared to other types of work, according to the World Bank. Small businesses and low-income workers in urban areas and the informal sector are most affected by the economic shifts, which have been less able to benefit from nominal earnings growth. “.
The type of employment, whether wage or self — employment, is more crucial to escaping poverty than just having a job, “the World Bank emphasized.
The Central Bank of Nigeria’s data suggests a discrepancy between nominal earnings growth and workers’actual take-home salaries, raising questions about the factors contributing to this trend. “What specific factors are contributing to the decrease in take-home salaries despite nominal earnings growth?”remains an unanswered question, as does the impact of the informal sector on the overall poverty rate.
The situation underscores the need for policies or interventions that could effectively address the issue of low — income workers and small businesses in Nigeria. How the current economic climate in Nigeria impacts the ability of workers to escape poverty is also a matter of concern. Further details are expected as the situation develops.
Source: Africa.
*Additional reporting by ImNews | Sources consulted: 5*
