Esales:


Others are just being sentimental, 500k is $830 salary monthly. My sister earned $1,200 as a nanny for a special needs child with only waec back in the days in the USA and someone said 500k is rich. This just goes to show that people are living in squalor in this country.

500k is average. I earn 1m+ monthly and I don't see myself as rich at all, I still have a long way to go. Plot of land is in millions, good cars are expensive. I refuse to buy a car older than 7yrs, that's 2015, check the price. I had to upgrade my apartment after hoodlums broke into my former apartment cus I stopped "dropping something", I lost over 2m worth of property in that raid cus I wanted to live in an apartment below 1m, now my first priority is security and a sane neighborhood, rent is now well above 2m.
Building a house? Plot of land in bariga is around 10m+/- 10% currently, I won't go to live with snakes and scorpions or subject myself to a life of 6hrs daily traffic cus I want to build my house on a land of 1-2m.

Rich starts from at least 2-3m. Anything lower is average.

we don't spend dollar in Nigeria...what we have here is naira, so lets talk naira...!!

But the OP said he has no responsibity or whatsoever yet

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

BePrepared:


I wonder how much you're currently earning.

If 50k is nothing what of married men with children collecting 15k from sec schools

LOL.

Keep wondering.

phemmyfour:
When you get married and started buying cerelac/daipers or paying school fees every 3months, you LL know that what you have there is a peanut.

Your friend is only taking advantage of you, stop running errand for him with your money even though you can afford it. He's earning in dollars over there. At least, let him pay for service once in a while

Asin ehn

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all workin.

You clearly said you have no responsibilities at the moment brother if 150k can solve ur monthly upkip that makes u rich in Nigeria.

If your 500k per month salary can enable live comfortably anywhere in Nigeria including Banana Island and Lekki, then you are rich.

SlyfoxxjReturns:


It’s not average oga get your facts right. With a 500k monthly income, you are easily in the top 5% of salary earners in Nigeria.

Does that make you rich? I guess not but that’s another testament to how bad things are in this country that 500k puts you in the “elite” bracket.

Yes you are correct u are in the top 5% of salary earners, unfortunately it doesn't make u rich...thats how valueless our money has become. With a family of 4, I think there will still be quite some pressure on 6m income.

Slynation:
we don't spend dollar in Nigeria...what we have here is naira, so lets talk naira...!!

But we import everything here with dollar

UyaiIncomparabl:


I hear you.

I have a guy that earns 300k till today. He still lives hand to mouth and is single. Lifestyle matters.

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

It's more complicated than you are assuming.

There are numerous factors that will determine if N500k per month is enough for someone to run himself and his household.

Some of these factors are;
1. Number of dependants - wife, children, parents and other extended family members. School fees for 3 children in primary/secondary school alone will gulp between N100,000 - 300,000 per month depending on location and standard of school. And I am not even talking of V/I, Ikoyi, Lekki, Ajah or Ikeja.

2. Rent - this depends on local government of residence and type of house, whether self contained two bedroom or three bedroom.

3. Taste. This is the type of car, clothes, gadgets and even food. Expensive cars are expensive to maintain.

4. Other conveniences like generator, water Dispenser, DSTV, air-conditioner, etc can be quite expensive.

In summary for a bachelor or a small family unit living in low priced apartment in low to medium residential areas not to far from the office and nothing too extravant, you can be considered rich.

But for a man with responsibilities for more than 6 people, living in quality apartment in medium to high brow residential areas. You are poor

Dikaveli2:


So you start to earn the entire world before your taste stop increasing

When you start earning 1M per month, you can go and live in Maroko. Who cares?

ObosiUkwalla:
So I was arguing with a friend who stays in the states and he keeps saying I am a rich guy.

Current salary is about 512k per month (take home), and has an annual increment of 15% of your take home. This is aside perks of perdiem anytime I travel outside work base (15k per night).

Anytime he wants me to have minor something done in NG on his bahalf, he expects me to use my money and whenever I ask, he tells me not to complain that I am rich (he knows what I earn), I don't have a problem doing those things for him.

I don't see myself rich and pls guys, what can someone earn in Nigeria to be termed rich. Your opinions will count alot as I still find it hard getting the usual daily stuffs we all use.
I am not married and do not have responsibilities. My mom is a retired govt worker and other siblings are all working.

Cc: seun mynd44 pls help us for more audience and opinions

. Please connect me to where you are working, even if it's 150 -200k I am paid I go appreciate m well��

SlyfoxxjReturns:


It’s not average oga get your facts right. With a 500k monthly income, you are easily in the top 5% of salary earners in Nigeria.

Does that make you rich? I guess not but that’s another testament to how bad things are in this country that 500k puts you in the “elite” bracket.

Remember a world bank statistics that 89% are in extreme poverty in Nigeria?
Remember CBN said 90+% don't have up to 500k in their account?

UyaiIncomparabl:


Your financial intelligence doesn't come close to mine. I am just speaking facts.

You ain't speaking any fact because you don't know me but here you are bragging and comparing...with 500K and financial intelligence, one will surely amass millions!! So yes, 500K is considered Rich

Twale baba, You are very rich. Taking home some people's annual salary monthly, Do give away , I need food here

UyaiIncomparabl:


Start earning it and you will know.

As your income increases, your taste increases. Those that know, know.

Exactly.
OP isn’t rich but he’s doing well.
I relate to his predicament.

checkoutEnugu:

I have a guy that earns 300k till today. He still lives hand to mouth and is single. Lifestyle matters.

Yes, lifestyle matters. Also, how much responsibilities you carry matters too.

UyaiIncomparabl:


Of course, I can. But, I just made him to understand that a 500k earner can't be called rich in present-day Nigeria.

Gbam! Truth!

Comfortable, but definitely not rich.

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

I earn Npower 30k and i love you with all my heart, can we click?

Esales:


But we import everything here with dollar

other countries import in dollar as well..

Slynation:
You ain't speaking any fact because you don't know me but here you are bragging and comparing...with 500K and financial intelligence, one will surely amass millions!! So yes, 500K is considered Rich

Do you earn more than 500k?

ObosiUkwalla:


I am not married.

dont listen to someone who doesnt earn up to even 300k.... Sir as a single man 500k as a monthly salary is very good and healthy for you...you can now use that 500k to create other streams of income thereby multiplying your monthly income by 2x or 3x.....and little by little you become your very own boss...you might even retire from the 500k job ...you are on the right track close your ears to insatiable rodents and their lackluster advice that only leads downhill....look in the mirror and smile cause you are on the right track and the only way is up

Johel:



You are not serious atall...but that's your problem...if 500k no do you....Go thief or do yahoo + Na...how many pple even earn 300k this days?...oga park!.

That's the problem... These people come here acting wealthy, spouting lies and making young people desperate.

Just imagine! As if we don't know the earning and spending data of this nation.

The annoying part is that most them have never seen half of the money they look down on. Lol!

SUPERPACK:
Even if you earn 20 million and have bad spending culture you will not be considered rich too, being rich goes down to your ability to save for financial dry seasons. That 500k is what Generals, professors and consultant doctors get monthly. They are rich in their capacity considering they earn 15 times the minimum wage.

17times minimum wage

UyaiIncomparabl:


500k Isn't rich, please. Especially if you have a lot of responsibilities/mouths to feed.

Na average salary. Start earning it and you'll know how far.

I earn about that and, seriously, it's not fabulous, especially with the value of the ₦aira.

Plus, we all know how it is with family, and if you got a project taking your cash, which I do.

Not rich, fam.

UyaiIncomparabl:


Do you earn more than 500k?

I will leave the question for you to unravel...

UyaiIncomparabl:


I suppose you have no responsibilities?

You will live an average life, yes. But, you can not be called rich.

you are damn rich nigga. 500k per month and increase annually by 15%.

His total net earnings in five years time will be (43,825,464.2) 43million 825thousand 464naira note 13 month salary.

Do not confuse being rich as being wealthy.

SUPERPACK:
Speak for those that have zero in economics sha not me. With that pay I will enjoy my life here in Nigeria and never look for more. I will still save 250k per month at the end minimum. I live a minimal lifestyle, no smoking, drinking, clubbing, womanising nor friends and don't fancy social attention.

You get sense

Slynation:
other countries import in dollar as well..

Nigeria runs an import based economy, china imports but china is highly self sufficient as well. Any increase in dollar affects everything in Nigeria so the exchange rate is highly important.

Fucklove:
I earn Npower 30k and i love you with all my heart, can we click?

I spend 10k in a week if I am being too frugal. Now, what do I do with your 30k? Buy clothes?

SlyfoxxjReturns:


It’s not average oga get your facts right. With a 500k monthly income, you are easily in the top 5% of salary earners in Nigeria.

Does that make you rich? I guess not but that’s another testament to how bad things are in this country that 500k puts you in the “elite” bracket.

You are right in terms of salary, but in terms of earnings, many Nigerians earn more than 500k per month. My mechanic earns more than 500k per month. Many retail shop owners earn more than 500k per months. Also many IT skills earn more than 500k per month.

500k isn't rich but it will go a long way in helping you live a comfortable life