Wealth share of the richest 1% in Nigeria
Nigeria: Wealth share of the richest 1% was 28.0% in 2024. ▼ Falling
Wealth share of the richest 1% in Nigeria, 1820–2024
Source: World Inequality Database (WID.world) (2026) – with major processing by Our World in Data. Measured in %.
Analysis
The most recent figure for wealth share of the richest 1% in Nigeria is 28.0%, measured in 2024.
The figure is up 7.8% on the previous year and up 12.2% over ten years.
Over the whole period, wealth share of the richest 1% in Nigeria peaked at 46.9% in 1970 and was at its lowest, 24.0%, in 2010.
That places Nigeria 74th out of 215 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 56 years of available data.
Wealth share of the richest 1% in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1820 | 41.8% | — |
| 1850 | 43.6% | +4.4% |
| 1880 | 45.7% | +4.6% |
| 1900 | 45.7% | +0.1% |
| 1910 | 45.6% | -0.2% |
| 1920 | 45.7% | +0.2% |
| 1930 | 45.8% | +0.2% |
| 1940 | 45.9% | +0.2% |
| 1950 | 46.1% | +0.3% |
| 1960 | 46.8% | +1.6% |
| 1970 | 46.9% | +0.2% |
| 1980 | 24.4% | -48.0% |
| 1981 | 24.4% | -0.0% |
| 1982 | 24.4% | +0.0% |
| 1983 | 24.4% | -0.0% |
| 1984 | 24.4% | +0.0% |
| 1985 | 24.4% | +0.0% |
| 1986 | 24.5% | +0.6% |
| 1987 | 24.7% | +0.5% |
| 1988 | 24.9% | +0.8% |
| 1989 | 25.1% | +1.0% |
| 1990 | 25.4% | +1.0% |
| 1991 | 25.7% | +1.2% |
| 1992 | 25.9% | +0.9% |
| 1993 | 25.9% | -0.0% |
| 1994 | 25.9% | -0.1% |
| 1995 | 25.8% | -0.1% |
| 1996 | 25.8% | -0.2% |
| 1997 | 25.8% | -0.2% |
| 1998 | 25.7% | -0.1% |
| 1999 | 25.7% | -0.2% |
| 2000 | 25.6% | -0.0% |
| 2001 | 25.6% | -0.2% |
| 2002 | 25.6% | -0.1% |
| 2003 | 25.5% | -0.2% |
| 2004 | 25.2% | -1.2% |
| 2005 | 24.9% | -1.3% |
| 2006 | 24.7% | -0.9% |
| 2007 | 24.5% | -0.6% |
| 2008 | 24.4% | -0.7% |
| 2009 | 24.2% | -0.7% |
| 2010 | 24.0% | -0.9% |
| 2011 | 24.4% | +1.9% |
| 2012 | 24.3% | -0.5% |
| 2013 | 24.5% | +0.8% |
| 2014 | 25.0% | +1.8% |
| 2015 | 24.6% | -1.6% |
| 2016 | 25.2% | +2.5% |
| 2017 | 24.9% | -1.1% |
| 2018 | 25.0% | +0.4% |
| 2019 | 24.9% | -0.4% |
| 2020 | 24.7% | -0.9% |
| 2021 | 25.1% | +1.8% |
| 2022 | 25.2% | +0.3% |
| 2023 | 26.0% | +3.1% |
| 2024 | 28.0% | +7.8% |
Nigeria compared with similar countries
- Nigeria's 28.0% is above the median for lower middle income countries, which is 27.2%, 1.0× the median. (47 countries reporting)
- Nigeria's 28.0% is above the median for Sub-Saharan Africa, which is 26.3%, 1.1× the median. (48 countries reporting)
Biggest year-on-year movements
Years where Wealth share of the richest 1% in Nigeria changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1980 | -48.0% | 46.9% | 24.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1820s | 41.8% | 41.8% | 41.8% | 1 |
| 1850s | 43.6% | 43.6% | 43.6% | 1 |
| 1880s | 45.7% | 45.7% | 45.7% | 1 |
| 1900s | 45.7% | 45.7% | 45.7% | 1 |
| 1910s | 45.6% | 45.6% | 45.6% | 1 |
| 1920s | 45.7% | 45.7% | 45.7% | 1 |
| 1930s | 45.8% | 45.8% | 45.8% | 1 |
| 1940s | 45.9% | 45.9% | 45.9% | 1 |
| 1950s | 46.1% | 46.1% | 46.1% | 1 |
| 1960s | 46.8% | 46.8% | 46.8% | 1 |
| 1970s | 46.9% | 46.9% | 46.9% | 1 |
| 1980s | 24.5% | 24.4% | 25.1% | 10 |
| 1990s | 25.7% | 25.4% | 25.9% | 10 |
| 2000s | 25.0% | 24.2% | 25.6% | 10 |
| 2010s | 24.7% | 24.0% | 25.2% | 10 |
| 2020s | 25.8% | 24.7% | 28.0% | 5 |
Countries ranked near Nigeria
More reference data data for Nigeria
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 1.77 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 19.51 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 27 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 2.62 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 27 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 5.94 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 5.8 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 81.9 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 121.16 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 14.27 (2050)
Frequently asked questions
- What is wealth share of the richest 1% in Nigeria?
- Wealth share of the richest 1% in Nigeria was 28.0% in 2024, according to World Inequality Database (WID.world) (2026) – with major processing by Our World in Data.
- What is the highest wealth share of the richest 1% recorded in Nigeria?
- The highest recorded value was 46.9% in 1970.
- What is the lowest wealth share of the richest 1% recorded in Nigeria?
- The lowest recorded value was 24.0% in 2010.
- How does Nigeria rank for wealth share of the richest 1%?
- Nigeria ranks 74th out of 215 countries with data for 2024.
- Is wealth share of the richest 1% rising or falling in Nigeria?
- Over the last ten years it is up 12.2%. The long-run trend across the full record is falling.
- Where does this Nigeria data come from?
- The figures come from World Inequality Database (WID.world) (2026) – with major processing by Our World in Data, published as part of Wealth share of the richest 1%. Statizoid updates them automatically from the source API.
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About this data
Share of wealth owned by the richest 1% of the population. Wealth is defined as the total value of non-financial and financial assets (housing, land, deposits, bonds, equities, etc.) held by households, minus their debts.