Nigeria: monthly living wage 2020

On average, the monthly cost of living for an individual in Nigeria amounted to 43.2 thousand Nigerian Naira, which equaled to roughly 111 U.S. dollars. On the other hand, this figure added up to 137.6 thousand Naira for a family, about 354 U.S. dollars. In 2020, the minimum wage in Nigeria reached 30 thousand Naira.

Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira)

Characteristic	Wage in Nigerian Naira
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Release date

May 2020

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Region

Nigeria

Survey time period

2020

Supplementary notes

The source adds the following information: "Living Wage computations are based on the cost of living for a predefined food basket derived from the FAO database distinguishing 50 food groups with national food consumption patterns in per capita units, for housing and for transportation, with a margin for unexpected expenses. The data about prices of these items is collected through an online survey. Living Wage for a typical family refers to the family composition most common in the country at stake, calculated on the respective fertility rates."

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