Frequent question: What is a good wage in Nigeria?

A person working in Nigeria typically earns around 339,000 NGN per month. Salaries range from 85,700 NGN (lowest average) to 1,510,000 NGN (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

Is $100 a lot in Nigeria?

Largely depends on who you ask. $100 is around 36,000 Naira which is twice our current official minimum monthly wage. To someone who earns minimum wage, which unfortunately is the bulk of the Nigerian populace, it is a lot of money.

How much money do you need to live comfortably in Nigeria?

If you’re traveling to Nigeria, around 500$ should cover your basic monthly expenses (food, social life, a bit of shopping and other expenses) even with the recession that is in effect right now.

What is the average income for Nigeria?

Living Wage Individual in Nigeria is expected to reach 40100.00 NGN/Month by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Nigeria Living Wage Individual is projected to trend around 40100.00 NGN/Month in 2021, according to our econometric models.

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What is the average salary in Nigeria in US dollars?

The average annual salary in Nigeria is 5,590,116 Naira and using the current exchange rate, that amounts to 13,634.43 USD. If it is monthly, that is 1136.20 US Dollars and 465,843 Naira.

Is $200 a lot in Nigeria?

At the current exchange rate of N360/dollar, $200 is N72000. With up to two-thirds of the population living on less than a dollar a day, Nigerians living in poverty rise , $200 is a lot of money for most Nigerians.

How much is a Coke in Nigeria?

A single person estimated monthly costs are 441$ (181,085₦) without rent. Cost of living in Nigeria is, on average, 57.72% lower than in United States.

Cost of Living in Nigeria.

Restaurants Edit
Coke/Pepsi (12 oz small bottle) 134.77₦
Water (12 oz small bottle) 95.27₦
Markets Edit
Milk (regular), (1 gallon) 3,986.49₦

What can you buy with $100 in Nigeria?

$100 is work 36,300 in Nigerian currency.

  • 10 bags of sachet water (pure water)
  • A bottle of water.
  • Transport fare over a short distance within a city.
  • Two beef roll snacks (gala)
  • Some really cheap biscuits.

What will 50000 Naira buy in Nigeria?

20 Businesses You Can Start With 50,000 Naira in Nigeria

  • Baking Business. Baking is a thriving business in Nigeria. …
  • Fast food Business. The importance of food can never be overemphasized. …
  • Plantain Chips Business. …
  • Selling Drinks and Water. …
  • Small Scale Farming. …
  • Smoked Fish Business. …
  • Soap Production. …
  • Home and Beauty Products.

How much is monthly rent in Nigeria?

Cost of living in Nigeria chart

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Accommodation (monthly rent)
Three-bedroom apartment in city centre NGN 400,000
Three-bedroom apartment outside of city centre NGN 80,000
One-bedroom apartment in city centre NGN 150,000
One-bedroom apartment outside of city centre NGN 40,000

Who is considered rich in Nigeria?

According to Forbes the 5 richest Nigerians are: Aliko Dangote (net worth US $14.4 billion), Mike Adenuga (net worth US $9.9 billion), Femi Otedola (net worth US$1.85 billion), Folorunsho Alakija (net worth US$1.55 billion), Abdul Samad Rabiu (net worth $1.1 billion).

Who is middle class in Nigeria?

23% of the Nigerian population is middle class with spending power and aspirations to match. 65 million people are aged 14 and below, representing 40% of its population. 2020 By 2020 Nigeria will have a large, strong, diversified, sustainable and competitive economy.

What is the average income of a family in Nigeria?

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.

What is the lowest paying job in Nigeria?

Here’s a rundown of the ten jobs that are among the lowest paying in Nigeria.

  • Marketing Job. …
  • Maids and Cleaners. …
  • Private school teacher. …
  • Laundry and Dry-Cleaning Workers. …
  • Manicurists and Pedicurists. …
  • Bartenders. …
  • Waiters and Waitresses.

20.02.2020

What is the lowest salary in Nigeria?

Minimum Wage – Nigeria

Per month
National Minimum Wage Minimum Wages – last checked – 4/19/19 NGN30,000.00
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Is 50 dollars a lot in Nigeria?

To answer your question, $50 is worth just about NGN17,750 (using $1 = NGN355). Where NGN represents Nigerian Naira. You can only do grocery shopping with that amount of money and if you’re a spender, that may not last you more than a day.

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