The national gross income per capita in Nigeria decreased to ***** U.S. dollars compared to the previous year. This marks the lowest national gross income during the observed period. Gross national income (GNI) per capita is the total amount of money received by a country (regardless of whether it originates in the country or abroad) divided by the midyear population. The World Bank uses a conversion system known as the Atlas method, which uses a price adjusted, three year moving average, which smooths out exchange rate fluctuations.Find more statistics on other topics about Nigeria with key insights such as gross national income (GNI), value of personal remittances paid, and personal remittances received.

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.

The Gross Domestic Product per capita in Nigeria was last recorded at 2416.36 US dollars in 2023. The GDP per Capita in Nigeria is equivalent to 19 percent of the world's average. This dataset provides the latest reported value for - Nigeria GDP per capita - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Nigeria GDP per capita for 2023 was $1,597, a 25.37% decline from 2022.

<ul style='margin-top:20px;'>

<li>Nigeria GDP per capita for 2022 was <strong>$2,139</strong>, a <strong>6.05% increase</strong> from 2021.</li>
<li>Nigeria GDP per capita for 2021 was <strong>$2,017</strong>, a <strong>0.12% decline</strong> from 2020.</li>
<li>Nigeria GDP per capita for 2020 was <strong>$2,020</strong>, a <strong>10.84% decline</strong> from 2019.</li>
</ul>GDP per capita is gross domestic product divided by midyear population. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars.

Nigeria NG: GDP: USD: Gross National Income per Capita: Atlas Method data was reported at 2,080.000 USD in 2017. This records a decrease from the previous number of 2,450.000 USD for 2016. Nigeria NG: GDP: USD: Gross National Income per Capita: Atlas Method data is updated yearly, averaging 325.000 USD from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 2,980.000 USD in 2014 and a record low of 100.000 USD in 1968. Nigeria NG: GDP: USD: Gross National Income per Capita: Atlas Method data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank: Gross Domestic Product: Nominal. GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

As of 2023, the highest average salary in Nigeria was received by people employed in the field of executive management and change - 96,000 U.S. dollars per year. Professionals in financial services and program management followed, with a mean annual salary reaching 59,000 and 44,000 U.S. dollars, respectively. According to the source, the lowest yearly payment was received by individuals working in the area of data, as this amounted to 2,700 U.S. dollars.

The national minimum wage for federal workers in Nigeria reached ****** Nigerian naira (NGN) in 2024, which equaled about ** U.S. dollars. On July 23, 2024, this minimum wage of ****** NGN was passed into law, increasing from the previous amount of ****** NGN. According to most recent data, the monthly cost of living for an individual in Nigeria amounted to ****** NGN on average, whereas this figure added up to over ******* NGN for a family. Dependency ratio In 2023, the labor dependency ratio in Nigeria was estimated at *** percent, showing no significant change since 2012. This metric represents the proportion of dependents who are either not part of the workforce or are unemployed, in relation to the total employed population. Nigeria's compensation trends and workload statistics In 2023, individuals working in executive management and change roles garnered the highest average annual salary in Nigeria at ****** U.S. dollars. In the same year, the employed workforce in Nigeria contributed to a collective weekly workload exceeding *** billion hours. Two years earlier, the workload was estimated at about *** billion hours.

Disposable Personal Income in Nigeria increased to 21437390.24 NGN Million in the second quarter of 2024 from 20532203.99 NGN Million in the first quarter of 2024. This dataset provides - Nigeria Disposable Personal Income - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Nigeria: Personal income per capita, U.S. dollars: The latest value from is U.S. dollars, unavailable from U.S. dollars in . In comparison, the world average is 0 U.S. dollars, based on data from countries. Historically, the average for Nigeria from to is U.S. dollars. The minimum value, U.S. dollars, was reached in while the maximum of U.S. dollars was recorded in .

Nigeria NG: GDP: Growth: Adjusted Net National Income data was reported at -8.534 % in 2016. This records a decrease from the previous number of -2.816 % for 2015. Nigeria NG: GDP: Growth: Adjusted Net National Income data is updated yearly, averaging 5.790 % from Dec 1982 (Median) to 2016, with 35 observations. The data reached an all-time high of 28.602 % in 1995 and a record low of -34.276 % in 1993. Nigeria NG: GDP: Growth: Adjusted Net National Income data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods described in 'The Changing Wealth of Nations 2018: Building a Sustainable Future' (Lange et al 2018).; Weighted average;

The Gross Domestic Product per capita in Nigeria was last recorded at 5593.06 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Nigeria, when adjusted by Purchasing Power Parity is equivalent to 31 percent of the world's average. This dataset provides - Nigeria GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Explore the progression of average salaries for graduates in Nigeria from 2020 to 2023 through this detailed chart. It compares these figures against the national average for all graduates, offering a comprehensive look at the earning potential of Nigeria relative to other fields. This data is essential for students assessing the return on investment of their education in Nigeria, providing a clear picture of financial prospects post-graduation.

Nigeria: Bank cost to income ratio, in percent: The latest value from 2021 is 65.04 percent, an increase from 61.27 percent in 2020. In comparison, the world average is 54.80 percent, based on data from 133 countries. Historically, the average for Nigeria from 2000 to 2021 is 73.68 percent. The minimum value, 51.15 percent, was reached in 2016 while the maximum of 202.04 percent was recorded in 2010.

The gross national income (GNI) in Nigeria decreased by 111.6 billion U.S. dollars (-24.03 percent) in 2023 in comparison to the previous year. This marks the lowest GNI during the observed period. Gross National Income is the aggregate value added by all resident producers adding product taxes (minus subsidies) not covered in the output valuation plus net receipts of primary income (compensation for income on property and employees) coming from overseas. Figures are in current U.S. dollars.Find more statistics on other topics about Nigeria with key insights such as national gross income per capita, personal remittances received, and value of personal remittances paid.

Nigeria NG: GDP: Real: GNI per Capita data was reported at 362,909.895 NGN in 2016. This records a decrease from the previous number of 376,642.214 NGN for 2015. Nigeria NG: GDP: Real: GNI per Capita data is updated yearly, averaging 199,140.702 NGN from Dec 1981 (Median) to 2016, with 36 observations. The data reached an all-time high of 376,642.214 NGN in 2015 and a record low of 160,042.424 NGN in 1987. Nigeria NG: GDP: Real: GNI per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank.WDI: Gross Domestic Product: Real. GNI per capita is gross national income divided by midyear population. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; ;

Key information about Nigeria GDP Per Capita

• Nigeria Gross Domestic Product (GDP) per Capita reached 2,057.020 USD in Dec 2021, compared with 2,072.338 USD in Dec 2020.
• Nigeria GDP Per Capita data is updated yearly, available from Dec 1981 to Dec 2021, with an average number of 1,868.471 USD.
• The data reached an all-time high of 3,136.832 USD in Dec 2014 and a record low of 492.767 in Dec 1999.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The National Bureau of Statistics provides Nominal GDP in local currency, at basic prices. The Central Bank of Nigeria provides Population. The Central Bank of Nigeria average market exchange rate is used for currency conversions. GDP per Capita prior to 2000 is calculated from Mid-year Population sourced from the International Monetary Fund.

• In the latest reports, Nigeria GDP expanded 3.518 % YoY in Dec 2022.
• Nigeria Nominal GDP reached 128.609 USD bn in Dec 2022.
• Its GDP deflator (implicit price deflator) increased 11.269 % in Dec 2022.
• Gross Savings Rate of Nigeria was measured at 32.735 % in Dec 2021.

This map shows the purchasing power per capita in Nigeria in 2023, in a multiscale map (Country, State, and Local Government Area). Nationally, the purchasing power per capita is 680,581 Nigerian naira. Purchasing Power describes the disposable income (income without taxes and social security contributions, including received transfer payments) of a certain area's population. The figures are in Nigerian naira (NGN) per capita.The pop-up is configured to show the following information at each geography level:Purchasing power per capitaPurchasing power index per areaThe Purchasing Power Index compares the demand for a specific purchasing category in an area, with the national demand for that product or service. The index values at the national level are 100, representing average demand for the country. A value of more than 100 represents higher demand than the national average, and a value of less than 100 represents lower demand than the national average. For example, an index of 120 implies that demand in the area is 20 percent higher than the national average; an index of 80 implies that demand is 20 percent lower than the national average.The source of this data is Michael Bauer Research. The vintage of the data is 2023. This item was last updated in October, 2023 and is updated every 12-18 months as new annual figures are offered.Additional Esri Resources:Esri DemographicsThis item is for visualization purposes only and cannot be exported or used in analysis.We would love to hear from you. If you have any feedback regarding this item or Esri Demographics, please let us know.Permitted use of this data is covered in the DATA section of the Esri Master Agreement (E204CW) and these supplemental terms.

Nigeria: Cost of starting a business, % of income per capita: The latest value from 2019 is 26.1 percent of per capita GNI, a decline from 27.6 percent of per capita GNI in 2018. In comparison, the world average is 19.87 percent of per capita GNI, based on data from 185 countries. Historically, the average for Nigeria from 2013 to 2019 is 33.93 percent of per capita GNI. The minimum value, 26.1 percent of per capita GNI, was reached in 2019 while the maximum of 58.7 percent of per capita GNI was recorded in 2013.

Nigeria NG: GDP: USD: Adjusted Net National Income per Capita data was reported at 1,830.842 USD in 2016. This records a decrease from the previous number of 2,242.151 USD for 2015. Nigeria NG: GDP: USD: Adjusted Net National Income per Capita data is updated yearly, averaging 349.028 USD from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 2,630.354 USD in 2014 and a record low of 68.541 USD in 1993. Nigeria NG: GDP: USD: Adjusted Net National Income per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Nigeria – Table NG.World Bank: Gross Domestic Product: Nominal. Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion.; ; World Bank staff estimates based on sources and methods in World Bank's 'The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium' (2011).; Weighted Average;

Adjusted net national income per capita (current US$) in Nigeria was reported at 1663 USD in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Adjusted net national income per capita - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.