...Nigeria ranks 3rd to last in the world.

How many years of work will it take a Nigerian worker to earn one million and become a millionaire? Well, the answer is, it will take roughly 519 years and one month. How did we come to that conclusion? You will see it in the report below.

Becoming a millionaire or sometimes a billionaire and rare times a trillionaire is everyone's desire, including you reading this report. No matter where you're reading from, this report encompasses almost every country, 102.

People who have been professionally active for many years rarely think about how much money they have earned throughout those years.

The currency used in this report is the United States, US Dollar because it is the universally accepted currency and is usually used to measure wealth and economy.

According to a Picodi.com analysis on April 12, 2023, the lowest-ranked counties are in Africa and Asia, while the highest is in Europe.

So, let us analyse how many years of work are required to make 1 million dollars ($1,000,000) in different countries while earning an average wage.

In this report, 102 countries were analysed - and when summed up - all the money an average employee takes home - citizens of Switzerland will earn their first million the fastest – 14 years and 3 months.

The second place belongs to Singapore with 16 years and 11 months. Citizens of Luxembourg have to work 5 months more – 17 years and 4 months. The USA and Iceland close out the top 5 with 19 years and 10 months and 20 years and 11 months respectively.

In this ranking, out of the 102 countries, Nigeria ranked 99th – an employee earning the average wage will need 519 years and 1 month to make a million dollars. Not that bad, at least Nigeria is not the last country on the list.

With this result, Nigeria overtook countries such as Uganda (by 4 years), Egypt (by 84 years) and Pakistan (by 102 years). On the other hand, workers from Kenya will earn their first million 310 years faster (81st – 209 years and 7 months), and there is a 450-year gap between Nigeria and South Africa (38th – 68 years and 3 months).

A million dollars is worth over 500 years of work in Nigeria (519 years and 1 month), Uganda (523 years and 3 months), Egypt (603 years and 6 months) and Pakistan (621 years and 3 months).

Methodology and sources

The average monthly net wage data comes from Numbeo, where thousands of users worldwide monitor wages through monthly questionnaires. For currency conversion, we used the average exchange rate data from Google Finance for March 2023.

All data used in this study can be found in a chart HERE.

https://converseer.com/nigerian-workers-need-519-years-to-earn-one-million-report/

God of miracle. This is inhumane to Nigerians. But it takes few seconds for Mtn to remove tax from N100 airtime that I borrowed. Nawao

It also takes a few seconds for the Government to increase tax, remove gratuity money from your salary, increase fuel price, increase electricity tariff, etc...

Wealthyonos:
God of miracle. This is inhumane to Nigerians. But it takes few seconds for Mtn to remove tax from N100 airtime that I borrowed. Nawao