Let me ask you guys a question: is there no middle class in Nigeria? I had this argument with some friends yesterday and they all insisted there's no middle class in Nigeria. Only the Upper Class - Rich people (10%) and the Lower Class - Poor people (90%). So where does that leave someone like me? I know I am not rich but neither am I poor. I earn way over half a million naira a month, so if I'm not middle class, what category do I fall into? And what about bankers, doctors etc?
BTW, this is not a dear LIB readers question, it is me Linda asking you guys...:-)
71 comments:
There are middle class but not commonly known in Nigeria...
Of course, there is middle class in Nigeria. It would be dumb to say otherwise. They are just focusing on the extremes in the country without really evaluating every household.
Liz
Dear Linda, a little birdie told me you earn over a million a month, don't lie.
To the question, if you earn over 100 thousand naira a month, you are middle class.
The class system is not based so much on money. Its more to do with a family's perceived position in the society. Actually many of the upper class in countries where the class system still exists are not as rich as you would thing. Hence, I don't think Nigeria has a class system.
there is. Middle class talking here. The problem is Nigeria is yet to state income classes for different economic levels
There is a middle-class but not a MASS middle-class.
Now, in a well-functioning society, there is the prevalence of a burgeoning Middle-class- a strong mass, and these members of the middle-class pay taxes to the government, in return for accountability for eg the govt provides welfare servies etc (Free and quality health care, Free and quality education, pensions etc). The citizens ie mostly members of the middle-class trust the govt and the govt is held accountable to these people. In other words, it is the middle-class that keeps the socity functioning vis-a-vis tax payments. Of course the rich do, but the rich ordinarily constitute the minority.
Now, in Nigeria, we DO have a middle-class, but not enough members of the society hit the middle-cass threshold. So from the top of my head, theoretically speaking, Lets assume 70 percent are poor, 7 percent are rich and 23 percent constitute the middle-class (This is not an ideal society).
The truth is MOST Nigerians are poor and people like you Linda, constitute the minority. You are previleged and earning over 500 000 a month will put you in the UPPER-MIDDLE class threshold.
Even within the middle-cass threshold, we have so many variances. We have the families that can afford to educate thier children abroad, we have those who can't, but who definitely live a comfortable life. We have those who can afford the finer things in life, nice house, nice car, trips abroad, and we have those who can afford average things- mediocre car, mediocre house, cant afford to travel more than once a year. All these people are members of the middle-class but whilst some are better classified as 'UPPER- MIDDLE CLASS', others constitute members of 'LOWER-MIDDLE-CLASS'.
Anyway in a summary, Nigeria's mass population does not quite hit the 'Middle-class' mark. Most of them are poor. This should not be so.
It's me again. I made an error. If you earn 500,000 a month, you will probably be lower-middle class, but if you earn millions a month, then you can be classified as a member of ''upper-middle-class'.
Well unfortunately, if you earn more than hundred grand then sorry you're not middle class. Nigeria ceased to have a middle class since the late 90s, they were gradually squeezed out. They either became too poor or too rich. We now have just the upper and lower class. If na lie calculate wetin hundred grand fit do for you or how many families get cars ( no be gwura gwura!) CAR. The Nigerian economy recognizes 2 classes, unfortunately. The rich n poor. Hoha
Liiiiinda,
You sha want us to have an idea of how much you earn. LOL
The gods of the blogs have done you well o. I'm happy for you. Maybe I should start blogging too o.
There is middle class which I believe is the genuine class in Nigeria. Most of the top class league in Nigeria live on loans or the nation's funds... a story for another day.
The middle class are mostly the hard working people who can afford the basic and some luxury of life. I believe they earn from about 300k monthly to N2m+...
My 2 cents sha...
Hey Linda, I think there's lower class and middle class are people like yourself and other rich people. And the upper class should be the real elite people. Like, the Billionaires. By the way, I started reading your blog in December 2010. I check every single day and I love it. But, I don't know anything about you. It would be nice if you did a segment about yourself. Introducing.... Linda Ikeji. What you do, your hobbies, relationship status, where you work, age, your affiliations etc. That would be so nice. Also, it was me that put the comment about standing up for women's rights and staging a petition against Ambassador Wigwe. You didn't even give me credit sha. Anyhow, we found out the lady was lying. Kai
there is ooo,my family is one.
THERE IS ABSOLUTELY NO MIDDLE CLASS IN NIGERIA. YOU EITHER BELONG OR YOU DONT! SIMPLE!!!
There is a slowly "emerging" middle class in Nigeria. After all those dictatorships we have had , people are starting slowly to afford to make a living on their own and live comfortable lifestyles. There is still much room for improvemnent though.
Of course there's a middle class. Linda is part of the middle class. These are primarily the working class that have built their income themselves. They save, they invest and keep growing their income. Other people who were born into wealth e.g. the Ibrus are the upper class. Even if they stopped working, their status is sure.
Linda na wa o! I fit be ur suga sombody? ;)
linda, if u earn way over a million naira a month, then you are rich! period!
http://iamtalkative.blogspot.com
Of course there is a middle class in Nigeria. Not everyone is super rich or super poor. It makes no sense to even say that. The poor might outnumber the middle class by a lot, it doesn't mean they don't exist.
500,000 a month na beans??
I beg free me now with your tori.
Linda! u said way over half a million so i think that makes u upper middle class o. on a serious note, employ me na #wink
There is certainly ‘a’ middle class in Nigeria but we are yet to assemble the ideology of a middle class into the society. America and other developed nations depend on the daily activities of the middle class society. They do everything possible to preserve and strengthen the middle class because they don’t want you to leave there! Lower or higher.
People can easily jump into the middle class society no matter how poor you are, all you just need is to show how responsible you can be. The middle class is for every citizen of a nation. In developed nations, as long as you can stay ‘dependable,’ then the middle class is there for you, where you can afford all your needs, and even get your ‘wants’ on a long run!
Until the government can create an avenue of which people can leave poverty line and step into the middle class society, then we will believe that there is actually one. Then how is that possible, poor ‘working class’ should be able to have access to credits from financial institutions which will enable them purchase basic amenities and housing. Gov't should be able to give loans to any citizens for education, entrepreneurship and stuffs like that.
People we should consider as middle class in Nigeria are actually the working class. They include people who actually run convenience stores, restaurants, bars, own car repair shops, retail stores and so on. With the power of Naira, and what you can actually buy with a N1000, Nne, if you earn more than N500000 in Nigeria, you should consider that you are above the middle class society.
How much was your last tax payment?
Naija has no middle class. Either you have or you don't...
Class is about access, and those who do pretty much have access to the same places; in Naija this usually means places such as Ikoyi Club, trips abroad, etc...
Hey Linda, so you earn over half a million naira (not dollars oh) a month? I beg no dey give open invitation to armed robbers and area boys. Nigeria na place where everybody dey hide wetin him get. Again, if you earn 500k per month, how much tax you dey pay per month?
linda show us your pay slip and then we would believe you! btw take it easy with the way you talk abt urself oo make landlord dem no visit u
Linda your monthly salary is less than a rich man's wife's monthly allowance. Go figure.
Omoge'....you are MY CLASS jare'!!! Holla at your boy!!! Definitely my kinda woman!
IMO the middle class would be bankers like me earning btw 150-200k a month but of course not being able to afford rent on the island thereby leaving Iju or Ikorodu to VI every morning.
My point is that i'm certainly not poor, my family and i eat and dress well but we certainly cannot say we are rich
& can rub shoulders with the Adenugas, Ovias, Ibrus etc
I want to believe thats not your real salary you wrote about.....you should know better.
70% of people live on less than $2 day. Monthly income alone doesn't determine which social class you belong to!
Linda you Bitch!!! looool. Over half a million? You damn right you middle class even in America. you prolly approaching upper middle class. good for you
I used to think there wasnt a middle class in Nigeria, on outside looking in but I believe there is one. My father is middle class (upper), but I wouldnt consider him RICH, cause he works for his money. The folks who are RICH either into oil bunkering, connected to govt contract, in govt, bank loans or own huge factories. My dad earns about N3mil a month (in pounds equiv) and isnt affiliated with any naija entity. If he had to stop working today for a few mths, he would be ok, because he has a sizeable amount in savings, but still that isnt rich. Rich means even if you didnt decide to work, you'd still be making the equivalent in earnings.
Another definition of rich in naija is who you know. So in this manner, I'd say ok maybe dad can qualify as rich. If katakata burst, who can you call. If you have access to AIG, IG or some senior Police Commissioner, you are considered with it. If you have ability to get yankee visa (not jand o, that one is too easy) and travel there, you are rich. If you have direct access to Ministers and Senators, you are rich.
At the end of the day, who cares? Salary can never make a person rich. Its what you do with what you have access t. What are you doing with the money coming in??
Frineds are not always right dear. If you earn even N200k per month, u r middle class, U can afford three square measl, you can save or take a staggered loan to get a car, u can rent a home with some savings too,
If u earn over half a million, You are very conmfortable, not poor
Now let me tell u poor. Poor cannot even read your blog, they aint got no lappy, they eat once a day and iuts gari, they travel miles to fetch water to drink, the family scrape money together to send kids to a cheap school or not at all. Poor is not something you want to know
Your frinds dont know what poor is. If they do, they wont tell u there is no middle class
Pls show us your bank statement with that your banger car that you drive around...pls if you want to deceive some people fair enough but not all people are fools. I have seen you many times even the way you dress, pls photo shop lol. kai you sabi blow ya trumpet o but to idiots.
linda if u really earn 500k a month please update your wardrobe and start looking less like the poor cousin
0-N18,500 Lower Poor ($2 A DAY and Nigerian Minimum Wage)
18,500 <100,000 Upper Poor
100,000 - 1,000,000 Lower MC
1,000,000 - 5,000,000 Upper MC
5,000,000 - 10,000,000 Lower Rich
>10,000,000 Bastard/Thief/Ole/International thief thief/salga
@ anon 4.12pm, she's middle class in america?!!! what part, must be the backyards of America. 500,000 is about 4,000 dollars, that's the monthly mortgage payment alone in most middle class homes in the US!
There is middle class in Nigeria alright,some of whom you call upper class are actually middle class;there are no clear cut indices to decide what middle class means.
Linda what do you do to earn 500k a mo? google adsense on this blog or other stuff?? Just curious..wink ..wink
Most definitions of class structure group people according to wealth, income, education, type of occupation, and membership in a specific subculture or social network.
My focus is on properties. one of the measures of wealth.
If you dont own a property of your own, you are NOT even near middleclass...forget hummers, brazillian weaves, L.V or Louboutins, htc's that desperately poor in assets Nigerians flaunt about. Those are valueless. If you have to pay rent, you havent even started.The man in his hut that owns that hut is 'classier' than you.
If you own a property but in a terrible location, (in lagos for instance say aguda and many areas in surulere,oshodi, ikorodu,ikotun, etc you in a better position but not quite middle class.
If you own your home in choicy locations like bananaisland,oldikoyi and V.I as well as some particular locations (NOT every dirty street oo) in lekki, Ikeja VGC and parts of Ajah then maybe you could be lower middleclass(other factors like education, occupation and social network considered)
If you own several properties in good locations in Nigeria AS WELL AS own properties/ holiday homes (er not council flats) in major cities abroad, then you could be upper middleclass
Above Upper middle class and above means you can stop working and yet still earn enough to consistently maintain a certain lifestyle for yourself and every member of your family. A good example is Bill Gates..in Africa,there arent many that tick ALL the boxes but for the sake of argument Mandela, Babangida
Now you know why your politicians cant help but steal and purchase properties they are trying to buy 'class' but it doesnt quite work that way..;)
If the person who runs one of the biggest gossip websites in Nigeria doesn’t earn up to N500,000 a month then it would be a big shame. Perez Hilton earns over $ 50, 000 a month from ad revenues. Step up your game linda, you should be earning at least $10, 000 by now. Perhaps if you get a website, more companies will take you serious
Re: subject who cares about being in a class? just live your life
Linda abeg u dey lie jo.. you should be earning up to 1.5m a month.. I think say u be judge for audition, se dem no dey pay u well? one more thing, try get a website.
Linda you earn over 500k a month? abeg look for another story.
@ Botswana, sorry did you say If you own a property in surulere, you are not middle-class?
My dear, there are different parts in surulere, some very good like Adeniran Ogunsanya etc and others not so nice. The same way in Ikeja, we have nice areas like GRA but also bad areas like Ojota. Even in Ikoyi, we have Obalende.
So Im sorry to say but I know many wealthy people who live in Surulere, they have the best of cars, they have property abroad, they sent thier children abroad, they are not only home-owners, but also landlords and they have a strong social network. Mr Gamaliel Onosode lives in surulere. Do you who he is? He is the former chairman of Dunlop, former chairman of Cadbury. HE IS CURRENTLY THE CHAIRMAN OF ZAIN AND HE LIVES IN SURULERE.
So pls be careful when making statements.
You need to look at people's standards of living. I have friends who live in VI, but thier standard of living is pretty basic- very few cars etc.
Don't be fooled SOLELY by one factor .There are so many other things to consider.
I can't believe you would put IKEJA in the same category as IKOYI and then put surulere with Ikotun and Ikorodu lol. You must be joking.
Ikeja is the mainland- similar to surulere. There are nice areas in surulere and Ikeja, but there are also bad places in Surulere and Ikeja.
@ Botswana Do you know that Gov.FASHOLA WAS LIVING IN SURULERE RIGHT UNTIL HE BECAME GOVENOR??? He was Tinubu's chief of staff and he was living in surulre. Do you know how much money he was making? lol
His children go to Pampers in surulere.
People make very ignorant statements and blanket statements.
How can you put areas like Adeniran Ogunsaya in surulere with areas like Ikotun and proceed to say that if you own property there, you are not middle class? Joker.
You need to become more exposed or better still visit certain areas before you make such blanket and false statements.
Wealth is in d heart.its nt salary.so if yr haert says u re middle class, then thats wat u re.
@dns: Exactly, who cares what class u fall into, as long as ur happy.
Because of Linda type of business she will definitely be suffering withholding Tax(WHT) on her income. She may need to clarify if the N1m+ is business income or what comes to her as salary.
hmmm linda if u earn 'well over half a million' a month in naija?we wont be reading here on ur blog cos u wont be a blogger period.seen u more than 10 times at events in lagos, omo u dey lie
ANONYMOUS 12;59 AM You said Wealth is in d heart.its nt salary.so if yr haert says u re middle class, then thats wat u re....... You are reasoning like a child and thats why you will not improve. So if you are poor instead of you to empower your self wt a good education or work harder to liberate yourself from poverty you will just be there deceiving and telling yourself "just believe you are rich and you are rich".
In Nigeria here we have it all. there is RICH and stupendous Rich. There is also Upper-middle class and lower -class. There is also lower-poor and upper poor. We live here , we do travel out and we can evaluate
Why it appears there are so many poor in Africa is not because a AFrica do not have wealth but because of corruption misappropriation , looting and lack of structured planning. In places like Germany , swiss and Canada where the govt has provided essential amenities such as water housing electricity good healthcare ete thereby eliminating poverty, and thats why you have like 70% middle-class and 25% rich and 5% poor. Not every one will live in affluence but there is need for an improved and comfortable standard of living. Since govt has failed you have got to empower yourself and be in any class you so desire.
A lesson in economics. I like it!
Interesting conversation.
Yes Linda, get a domain name!
Ada and Anonymous June 6 2011: Did I hit a nerve????? Please control your obvious lack of education and class and learn to read comments carefully I SAID THERE ARE SEVERAL OTHER FACTORS CONSIDERED. I SAID I WILL FOCUS ON WEALTH IN TERMS OF PROPERTIES, EVEN IN MY CLASSIFICATION OF PROPERTIES, I ALSO SAID NOT EVERY SINGLE AREA! Should I resort to painting a picture? Besides everyone knows Surulere is a heaving stinking dump.
@Ada: Fashola is a Terrible example really as he still has to tow the party lines. Fashola has embraced corruption in full scale so he certainly would have purchased properties in the island and specifically in the areas I listed in my last comment... But back then he was a bit player in this game and I can assure you he was on crumbs.
Now instead of discussing issues that are over your head, get into the property market and place a value on properties in the mainland as compared with those in island (on the average) and educate yourself. Base your discussion on reality or else please stick to discussions about 50k (naira) bribes, brazillian weaves, W.A.G.S and shoes. Perhaps you live that dump and now consider yourself upper middle class? sorry to burst your bubble.
@ anonymous 12.05am: Eish! A lot of public figures that ignorant people like you hold in high esteem are mere stooges in your society. That said, I take on board your point about Ikeja, it was a typo on my part as there is no way to compare properties in locations like banana island and ikoyi to ikeja. It actually belongs to the Surulere, Ikorodu axis. As for the your postulation on standard of living we are more or less saying the same thing so I dont know what the hooha is about.
@DNS: I think people care so much about class because of perception. Even Linda when defending her part in the youth scandal wants to be seen as too wealthy to wait and collect her 'transport fare' when in real terms very loud people that have to keep announcing that they are rich, just dont tick the boxes of wealth and class. So we end up with desperate and very unhappy people.
I mentioned a man who owns his own hut in some remote village somewhere. I.E the 'bushmen'. If he owns his own property,is able to educate his family enough to provide for themselves, has periods of leisure, has a network of dependable individuals and is deeply satisfied with his life, he is in a better position than miserable people up to their eyes in debt who want to give off the impression of being what they are not. ...speaking of which where is Jimoh Ibrahim these days.
Your question is a difficult one as I have never considered in a country like Nigeria, the class bracket but instead, the income bracket. In England when you talk of the upper class it is those who are landed and the gentry who have had over generations, affluence and class and examples would be the Dangotes etc. However, in Nigeria income is very fluid and does not equate class and so to quantify someone who has recently acquired so-called wealth as Upper class is in itself, an anomaly. Middle class would always exist in any society regardless.
All of una try jare!(both proponents & opponents), interesting discussions here, more pls!
so if she earns that much make she use everything by weaves,and cloth abi *hiss*some peepo sha
@dns i concur. If the lady who runs the most popular entertainment site in the most populous country in Africa does not make up to 5gs a month, then I weep for my country. Arianna Huffington sold her site for $315m to AOL in Feb, go figure!
@ Botswana, so by your logic, if you live on the mainland, ie either Surulere or Ikeja or Yaba and you have been very well educated in the best schools abroad, have access to a large social network, have a fanatastic job (earning a lot in comparison to your peers) BUT you live on the mainland, then you are not middle-class?
CHEI, Botswana just said that anyone who doesnt live in Ikoyi or VI cannot be considered middle-class. Those who live in Ikeja or surulere are not members of the middle class (LOL).
Okay, so by your logic Botswana, what are the other thresholds you would use to decipher which ''class'' one belongs to? Since, people who live in Ikeja and Surulere are automatically excluded from the 'middle-class' threshold lol.
I agree with some of the readers in that it is difficult to quantify middle class in Nigeria as a number of people, regardless of where they are living do not own assets like homes and so cannot be considered assets because they are renting in high income areas or driving big expensive cars. Those are valueless as they depreciate over time and homes although may go up and down in value, always retains its value.
at Botwsana, how would you classify a family that lives on the mainland, yet own properties abroad, educated their children in independent grammar schools and in the best universities abroad, travel frequently on fancy holidays and also have a solid social network? So this family essentially has access to everything a rich family has access to but the family is automatically disqualified because they live in Ikeja or Surulere? You're quite daft you know? lol.
Truth of the matter is that there is a middle class but like many of you have stated, as Nigerian's, our thinking is that you either belong or you don't. In many cases the middle class have a good network base so therefore the kids of these people mix with the upper class and they all blend in. I went to great schools growing up and we went on vacations abroad and I am in college abroad tuition fully paid by my parents but I will not say we are rich we are just comfortable we have our ups and downs. But the schools I went to allowed me to mingle with children who belong to the upper class even though we are middle class therefore I have grown up with that mentality of knowing certain types of people and because of that (not to sound shallow) I won't mix with certain people. Thats what I was born into. Even here in America even though we all want to believe america is a leveler, there is still that stigma of please if we were in Lagos we won't be friends and thats really where this class system is. So yea there might be a middle class but Nigerians choose to see things as you either have or you don't its a sad way to be but its what we have known our whole lives. What really should be a necessity in our country is seen as luxury. Only God knows when this will change.
@Botswana- actually your assertions are inaccurate. A four bedroom duplex in a good and accessible part of the mainland for eg good areas in Ikeja and Surulere are valued by at 50 million or higher (this is the base value exlcuding top-up prices that landlords typically include in their sale prices). A four bedroom apartment or semi-detached house in lekki phrase 1 or 2 goes for just about that. In fact you'll find that three-four bedroom flats in Oniru estate V.I extension fall within the same price range, 50million naira and above. Likewise renting, a duplex in lekki phase 1 wil be let out for 2-3million for a two year lease and new developments on the mainland are let out for similar prices. I know this because I am a real estate developer and also because my friends who are renting apartments on the mainland pay just as much as I do in my current apartment in lekki phase 1, off admiralty way (two million for two years for a three bedroom duplex minus bills). House prices in lekki have dropped drastically, no surprises there, we don't even have a proper drainage system. The reality is that most home owners in good areas of Ikeja, Surulere, Maryland etc CAN afford to live on the island but can't be bothered to move so prefer to let out their houses on the island to other tenants. Moreover I believe that in a country like Nigeria, you can't assess class categories based on ONE item. It should be a holistic assessment.
At Botwsana- //Most definitions of class structure group people according to wealth, income, education, type of occupation, and membership in a specific subculture or social network.
My focus is on properties. one of the measures of wealth.//
By your very own admission, class structure is determined by a number of indicators eg wealth, income, education, and social network. How then can you isolate ONE factor ie place of location as a SOLE determinant of one's class category? Your criteria for class assessment is flawed, incomplete and extremely misleading. You have created YOUR arbitrary assessment criteria by singling out one factor. Such an assessment has no place in reality because it's logically impossible to determine one's class in society based on ONE indicator. Are you aware that many of us who live on the island acquired these properties FREE of charge ie by virtue of their roles as civil servants and no, not cabinet positions I'm talking about mid rank civil servants. My father was one of such people before he left his long serving job as an optician working for the government and proceeded to private practice where he made the bulk of his money.
@ JOKE.
I must commend you for such a well-thought out response.
You took the words right out of my mouth!
It's good to get information from experts and not people who sprout out false assertations.
Your answer was well-rounded.
Where has Botswana gone?
@ Bolaji- Excellent!
@ Botswana...
Extremely misleading indeed.
500k a month can never be middle class...my father paid over 100k USD for my undergraduate education and he will be the 1st to tell you he's not rich. so 500k is peanuts. in the average household that's diesel allowance. if u wanna get ahead u need another job
I was done with this topic but Linda's cover of forbes brought me back to her blog.
Goodness gracious, it seems I have ruffled a lot of feathers so much that they ignore the topic of discussion and make me their topic even as my comment came in quiet late. Why the attack? I must have hit a nerve!!oh well you win some..
Quite frankly I had no idea the disgruntled minority (most likely the same 'hurt' person posting severally) on this blog:
1. Lack the ability to read and assimilate
2. Live in that stinking dump called Surulere, the very anus of Lagos
Not deeply surprised as Linda resides there and like will always attract like.(feel free not to publish but we cant all kiss ass)
Now to the retarded few (Anne, Lax, Anonymous's, Linda, Bolaji tom, dick, ekaette: I have answered all your questions about class in my write up, and even gave a few examples, do not blame me for your inability to read AND comprehend. I will not revisit that particular topic.
Now to a few (I know its the same person but I will indulge this once..)
@Bolaji: Talk about off topic??? No disrespect to your father but since you brought him up, WHO SAID ANYTHING ABOUT THOSE WHO RENT OR WERE 'ASSIGNED' THEIR HOUSES? Gosh! We are speaking of property owners in 'high in demand' locations, you are bringing in *to be blunt* squatters into the discussion?
@Linda: not surprised at Linda actually, must have stung eh?) What do you mean by 'Live'?? what are you on about? It is obvious that when the Almighty was showering intelligence on earth you held an umbrella. Now be a good girl and go back and get an intelligent friend to read what I wrote and draw pictures on your behalf.
As for anonymous June 7, 2011 11:07 AM, can you take a minute from licking Joke's ass to form an educated response? Sometimes its better to keep quiet and be thought of as a fool than to open your mouth and prove the fact!
@Lax:Such intuitive insight you bring to the topic
"is there no middle class in Nigeria"
Most who seem 'intrigued' by me ironically disappoint me with their level of ignorance! It beggars belief! Frankly the aggregate dependency on gossip and hearsay damages the few functioning braincells!
Gosh, I have wasted too much time on nonetities already. But just one more to Joke and I am done...
*Continuing from my post in case Linda is 'hurt' and refuses to publish'
@ Joke:Thanks for a reasonable debate and for being polite about it. I am a property investor and my portfolio are currently spread across a few states in North America, 2 majorcities in the U.K, Bostwana, Kenya and Banana Island Ikoyi in Lagos.
I am looking to spread my investment in Lagos and so have done my homework indeed.
But to break my points down in very simple English (not for your sake but for the sake of ignorant few)
1. Properties on the island on the average are worth far more than properties on the mainland.
Why?
a. Because of heavy demand on real estate over there.
b.Because of the per capita income and financial worth of *potential consumers* in that area.
c.Because transportation is cohesive, unlike landlocked areas...aka mainland
This is why high yielding businesses of almost every area of industries INCLUDING the majority of blue chip MNC's fall over themselves to locate their main offices over there and not so much in Surulere, Ikotun egbe et al.
2. I did not speak about renting. Again the one who rents cannot come into the equation,he /she is just a rat that fancies themselves as a Lion..that bit better than a homeless man
3. Any fool can make up the numbers, real estate developers on the whole overinflate the prices to fleece a home owner. The true value is after you make a sale.
You know yourself that properties in parts of Banana ISland, V.I and oldIkoyi are so expensive and such a niche market that homeowners are openly discriminating and openly advertise for specific customers (again mainly MNC's and not the average Jo Idonhammerand Janet Iwanbelong)
4. All the major entertainment takes place in the island, ranging from Cinemas to when Beyonce etc etc performs. If the area you speak of *surulere, ketu, ikeja, ikotun, ajegunle etc is in such high demand(We all know demand drives the price) why dont these entertainers perform there? Because its an eyesore and its landlocked.
5 It is a status symbol to be seen as a resident in specific areas in the island so demand will always hit the roof. Even Fashola wants more than his share of the pie hence the *now discarded idea* tollgate.
6. When next you engage in a debate consider the fact that educated analytical individuals might read your post, not everyone is as ignorant as *quite frankly* a few of the disgruntled posters in here.
Its been interesting but my time indeed is money and I certainly wont be coming back for rejoinders.
Cheerio.
I doubt class should be based solely on income. I am from a single-parent household and my mother has no job or source of income but we still afford (by God's grace) for the 4 children to go to school abroad.
It is about 25 million a year (not including holidays,basic things et al).
I think it's more about social significance and looking at it with that mindset, there are few people who actually qualify to be in the middle class but I guess you do.
@ Anonymous :June 7, 2011 2:36 AM
That's really true: there is a middle class but they are usually deceived to believing they are in the upper class but when it really comes down to it: they most probably live in the 50 million naira houses talked about here. For some reason, the middle and upper class in Nigeria seem to be confused but when it comes down to it: the difference is clear.
I consider my family to be a part of the upper-middle or upper class in Nigeria. I think my family can be an example of the upper mid class in Nigeria.
-My family made money quite a while ago during the military regime and have status among the people that matter.
-We live in a 12 bedroom mansion in Old Ikoyi, Lagos and own properties around Nigeria and Abroad. When I say abroad, I do not mean Peckham in London or Houston in America. I mean Chelsea, london/Brasilia, Brasil, etc. This is the major diff between the upper and lower mid. The lower mid usually can afford houses <120k pounds.
-All of us(the children) school abroad. The lower mid can usually also afford to school abroad but go to inferior schools, Public schools, or religious schools, etc.
-The jobs are very diff: the lower mid are like the bankers making ok money but at the upper mid, we're talking about people who usually don't work. Probably own their company for show or sit atop boars of large institutions.
-The things others fret for to try to make statements(like gucci, lv, hermes, et al) come naturally. The major things in contention are really expensive sports cars, yachts and the best homes in locations like: Peru, Carribeans, Switzerland, the American Suburbs, e.t.c.
-I lived my first few years in Nigeria and I am constantly in contact with Nigeria so I understand (to an extent) how things work). I have noticed these differences over time but they haven't been pre-eminent in my life. My father, during his lifetime made me to treat everyone equally.
This was just for the sake of argument so before I lose my point, basically:
There is a middle class in Nigeria usually confused with the upper class (and lower class) but there are basic differences if you look.
Most middle class Nigerians ran off to USA and UK to make a living or go to school.
The Rich didn't see the need, they have everything they need here (Houses in Banana Island, private jets etc). The poor can't afford to (although some of them managed).
There are still middle class Nigerians stuck behind, but they're so few and far between they end up mingling with the poor or just sitting at home watching cable after school.
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