Nigeria, Nov. 26 -- The middle class has long been considered a pillar of economic progress and stability in any community. However, as rising inflation and stagnating salaries reduce purchasing power, this crucial group is coming under increasing strain in Nigeria.

Nigeria's middle class, which formerly drove innovation and consumption, is fast declining. This reflects underlying economic issues endangering the country's long-term progress.

The growing disparity between inflation and income growth is at the core of economic decline. Nigeria has experienced ongoing inflationary pressures over the past 10 years, as the cost of housing, food, and energy has increased significantly in terms of income levels.

Many middle-class households a...