On average, the monthly cost of living for an individual in Nigeria amounted to ****** Nigerian Naira, which equaled roughly *** U.S. dollars. On the other hand, this figure added up to ******* Naira for a family, about *** U.S. dollars. In 2020, the minimum wage in Nigeria reached ****** 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 July 25, 2025, from https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/
Trading Economics. "Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira)." Chart. May 20, 2020. Statista. Accessed July 25, 2025. https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/
Trading Economics. (2020). Monthly living wage in Nigeria for individuals and families in 2020 (in Nigerian Naira). Statista. Statista Inc.. Accessed: July 25, 2025. https://www.statista.com/statistics/1119087/monthly-living-wage-in-nigeria/
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/
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/ (last visited July 25, 2025)
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/
