This study examines Onitsha North (Nigeria) market traders’ perceptions of how formal education affects income inequality and social mobility. Using a descriptive survey of 120 traders across the four major markets, we administered a structured questionnaire (Cronbach’s α≈0.56) on Likert scales. Results: Traders on average agreed that formal education reduces income inequality and promotes upward mobility. For example, mean scores on questions about education’s role in narrowing the rich–poor gap and enabling children to “do better than their parents” were above neutral. Key challenges cited included limited access, high costs, and poor quality of education. Suggested solutions included improving school access, vocational training, and adult literacy programs. Importantly, statistical tests showed no significant difference in responses between traders of different education levels (p>0.05). Conclusion: Market traders view education as a powerful equalizer in the community. These insights suggest policymakers should strengthen formal and informal education opportunities to help reduce inequality and enhance social mobility in urban Nigeria.

Keywords: Traders, Main market, Income Inequality. Social Mobility, Formal Education,