Nigeria’s is estimated to have about 180 million people while about 45 percent of the Nigerian population currently live below the poverty line, or the income level needed to make a bare-essentials living in Nigeria. This figure depends on a number of factors, below poverty income is currently calculated to be an annual income of N300,000 for a family of four.
The social economic classes define how far the economy is growing and how pronounced the poverty rate in Nigeria is. Below is a statistical survey.

The Lower Class
This is primarily comprised of lower-level citizens, white-collar workers. These workers are typically not educated, and lack the graduate degrees needed to advance to higher levels of employment, or have a degree but remain unemployed but manage to put food on its table. Income for these workers generally falls between N160,500 and N1m. 45% Nigerians are in this category.
This category is trapped in the poverty rate of 45%.

The Middle Class
They typically have post-graduate degrees and work at high-level, white-collar positions. They are mostly civil servant, traders and vocational professional: Household income for these workers is often above N2m naira annually. According to statistics, we have 15% Nigerians in this category.

The Upper-Middle Class
This professional class workers, earn enough to be in the top one-third of Nigeria’s incomes.
They earn above N6m naira annually, Nigeria have 15% of this category.

The Upper Class
This income level is what is commonly called the “High Class,” or the 4 percentage of Nigerians who make more than N10m naira annually. we have about 4% in this category.

At the top of his economic ladder is the so-called “1 percent,” or households that earn more than N20m annually.
This category is mainly occupied by Politician and Business Moguls
Minimum wages in Nigeria is N18,000. This social economic Class estimate was based on Nigeria’s N4.69Tn naira National budget for 2014, it is imperative that the management of national wealth and the reduction of poverty are the key questions of political economy all over the world today, Nigeria have to do more to bring its people out of poverty rate.

Identify where you are located.

MathsChic:
Identify where you are located.

Val is around the corner. He might be in the upper class, you never can tell. Lol
OP, i agree with you to the middle-class, however, the benchmark for upper class seems low in this present Nigeria. One who makes 10 MPA might not be considered wealthy in the present Nigeria.

Atm... Erhmmm..

phranseeqz:

One who makes 10 MPA might not be considered wealthy in the present Nigeria.

I think you are right. There isn't so much that can do.

I don't agree with your classification, So let me tweak it a little bit;

1. Your Lower class should actually be survivors! How can you term a family of four with annual income of N1m as Lower class? When a 3bed flat in any decent part of Lagos is now aprox. 600k/annum. Add school fees to the mix and the man is sweating by the middle of every month.
This earner can only manage a mini-flat with his large family!

2. Your middle class should be the Lower class- Earning 2-6m/annum with a family of four can afford one a decent living, a good apartment in a decent neighbourhood, fairly good schools for the kids, Clean Tokumbo cars and a few change for fine dinning at good restaurants, but it will be hard to raise enough equity to finance your own home.

3. Your upper middle class, should be the Middle class proper - Earnings of between 10-20m/annum is about the range where one can at least enjoy some luxuries, you can afford to buy your own home/apartment, get the kids in a high profile school, afford family vacations abroad, brand new cars... etc...

4. Upper Class - Over 20m in annual earnings, these are the top management cadres in solid companies, Real successful SME business owners, he can afford a 5-6bed duplex at the Lekkis of this country, with the retinues of drivers and cooks; they are the ones 'chopping life', their earnings are already hedged against any form of inflation

5. The top 1% should be those above 50m/annum, top dog Enterpreneurs and the politicians, their lifestyles need no introductions

cecegorz:
I don't agree with your classification, So let me tweak it a little bit;

1. Your Lower class should actually be survivors! How can you term a family of four with annual income of N1m as Lower class? When a 3bed flat in any decent part of Lagos is now aprox. 600k/annum. Add school fees to the mix and the man is sweating by the middle of every month.
This earner can only manage a mini-flat with his large family!

2. Your middle class should be the Lower class- Earning 2-6m/annum with a family of four can afford one a decent living, a good apartment in a decent neighbourhood, fairly good schools for the kids, Clean Tokumbo cars and a few change for fine dinning at good restaurants, but it will be hard to raise enough equity to finance your own home.

3. Your upper middle class, should be the Middle class proper - Earnings of between 10-20m/annum is about the range where one can at least enjoy some luxuries, you can afford to buy your own home/apartment, get the kids in a high profile school, afford family vacations abroad, brand new cars... etc...

4. Upper Class - Over 20m in annual earnings, these are the top management cadres in solid companies, Real successful SME business owners, he can afford a 5-6bed duplex at the Lekkis of this country, with the retinues of drivers and cooks; they are the ones 'chopping life', their earnings are already hedged against any form of inflation

5. The top 1% should be those above 50m/annum, top dog Enterpreneurs and the politicians, their lifestyles need no introductions

Couldn't agree more. For cities like lagos, vast majority may never leave dat survivor cum lower class bracket!

Poverty in Nigeria still very much on the high side.