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.

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.

This dataset provides values for MINIMUM WAGES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

BackgroundMany low and middle-income countries are increasingly cognisant of the need to offer financial protection to its citizens through pre-payment schemes in order to curb high out of pocket expenditure and catastrophic spending on healthcare. However, there is limited rigorous contextual evidence to make decisions regarding optimal design of such schemes. This study assesses the willingness-to-pay (WTP) for the recently introduced state contributory health insurance scheme (SHIS) in Nigeria.MethodsThe study took place in 6 local government areas in Kaduna state, North-west Nigeria. Data were collected from a household survey using a three-stage cluster sampling approach, with each household having the same probability of being selected. Interviews were conducted with 4000 individuals in 1020 households. Contingent valuation was used to elicit the willing to pay (WTP) for the household using the bidding game technique. The relationship between socioeconomic status and WTP was also examined using logistic regression models.FindingsAbout 82% of the household heads were willing to pay insurance premiums for their households, which came to an average of 513 Naira (1.68 USD) per month per person. The average amount individuals were willing to pay was lower in rural areas (611 Naira) compared to urban areas (463 Naira). These results were influenced by household size, level of education, occupation and household income. In addition, only 65% of the households had the ability to pay the average premium.ConclusionSocioeconomic factors influence individuals’ WTP for contributory health insurance schemes. It is important to create awareness about the benefits of the insurance scheme, especially in rural areas, and in both the formal and informal sectors in Nigeria. WTP information can inform the amount of insurance premiums. However, it is important to consider differences between the WTP and the cost of benefits package to be offered, as the premium amount may need to be subsidized with public financing.

In 2023, the national gross income per capita in Nigeria stood at ***** U.S. dollars. Between 2008 and 2023, the figure dropped by ** U.S. dollars, though the decline followed an uneven course rather than a steady trajectory.

As of April 2023, the highest-paid digital marketing skill in Nigeria was search engine optimization. The average salary for a search engine marketing expert was approximately 2.75 million Nigerian naira per year. Digital marketing automation came second. The average salary for a specialist in that field was 2.7 million naira.