There is data evidence that welfare has improved post–democratic reform in Nigeria. However, the distribution or concentration of the benefits in subgroups of the population is unknown. In this paper, the question of differential welfare impacts across and within gender following democratic reform in Nigeria is explored. Two related hypotheses are investigated. First, there is no disparity in the income and returns-to-education benefits of democratic reform across genders in Nigeria. Second, there are no within-gender disparities in the impact of democratic reform on income and returns to education in Nigeria. From the results, both hypotheses are rejected. Though men and women both benefitted from democratic reforms, economically significant within- and between-gender differences exist.