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)
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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Trading Economics. (May 20, 2020). Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira) [Graph]. In Statista. Retrieved November 09, 2024, from https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com
Trading Economics. "Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira)." Chart. May 20, 2020. Statista. Accessed November 09, 2024. https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com
Trading Economics. (2020). Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira). Statista. Statista Inc.. Accessed: November 09, 2024. https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com
Trading Economics. "Monthly Living Wage in Nigeria for Individuals and Families in 2020 (in Nigerian Naira)." Statista, Statista Inc., 20 May 2020, https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com
Trading Economics, Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira) Statista, https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com (last visited November 09, 2024)
Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira) [Graph], Trading Economics, May 20, 2020. [Online]. Available: https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/?ref=benjamindada.com
