In this video, I explain our thesis that Nigeria indeed has a population of 200 million people. We have used alternative data sources in our model, and then extrapolated. However, only about 30 million people earn income. The implication is clear: the 30 million will have to carry the other 170 million. Of course, included in that “income earners” bracket are those at minimum wage which could be $70 per month. That does mean many people focus on essentials as there is no free cash to waste.
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