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.

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.

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 NG: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment data was reported at 18.480 % in 2017. This records a decrease from the previous number of 18.505 % for 2016. Nigeria NG: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment data is updated yearly, averaging 16.420 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 19.436 % in 2013 and a record low of 13.945 % in 2002. Nigeria NG: Wage And Salaried Workers: Modeled ILO Estimate: % of Total Employment 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: Employment and Unemployment. Wage and salaried workers (employees) are those workers who hold the type of jobs defined as 'paid employment jobs,' where the incumbents hold explicit (written or oral) or implicit employment contracts that give them a basic remuneration that is not directly dependent upon the revenue of the unit for which they work.; ; International Labour Organization, ILOSTAT database. Data retrieved in November 2017.; Weighted average; Data up to 2016 are estimates while data from 2017 are projections.

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.

Nigeria GDP: Market Prices: Compensation of Employees data was reported at 29,944,058.561 NGN mn in 2017. This records an increase from the previous number of 25,813,374.354 NGN mn for 2016. Nigeria GDP: Market Prices: Compensation of Employees data is updated yearly, averaging 1,738,996.040 NGN mn from Dec 1981 (Median) to 2017, with 37 observations. The data reached an all-time high of 29,944,058.561 NGN mn in 2017 and a record low of 120,851.386 NGN mn in 1981. Nigeria GDP: Market Prices: Compensation of Employees data remains active status in CEIC and is reported by National Bureau of Statistics of the Federal Republic of Nigeria. The data is categorized under Global Database’s Nigeria – Table NG.A014: GDP: by Income: Current Price: Annual.

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 .

Graph and download economic data for Gross National Income for Nigeria (MKTGNINGA646NWDB) from 2008 to 2024 about Nigeria, GNI, and income.

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;

Nigeria NG: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment data was reported at 23.766 % in 2017. This records a decrease from the previous number of 23.783 % for 2016. Nigeria NG: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment data is updated yearly, averaging 19.744 % from Dec 1991 (Median) to 2017, with 27 observations. The data reached an all-time high of 23.893 % in 2014 and a record low of 16.809 % in 2002. Nigeria NG: Wage And Salary Workers: Modeled ILO Estimate: Male: % of Male Employment 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: Employment and Unemployment. Wage and salaried workers (employees) are those workers who hold the type of jobs defined as 'paid employment jobs,' where the incumbents hold explicit (written or oral) or implicit employment contracts that give them a basic remuneration that is not directly dependent upon the revenue of the unit for which they work.; ; International Labour Organization, ILOSTAT database. Data retrieved in November 2017.; Weighted average; Data up to 2016 are estimates while data from 2017 are projections.

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

Adjusted net national income per capita (annual % growth) in Nigeria was reported at 10.18 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Nigeria - Adjusted net national income per capita (annual % growth) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Average P/E Ratio: Nigeria Stock Exchange: Equities: Weighted data was reported at 18.830 % in Sep 2018. This records a decrease from the previous number of 21.830 % for Jun 2018. Average P/E Ratio: Nigeria Stock Exchange: Equities: Weighted data is updated quarterly, averaging 19.700 % from Jun 2013 (Median) to Sep 2018, with 21 observations. The data reached an all-time high of 30.870 % in Sep 2016 and a record low of 13.980 % in Mar 2016. Average P/E Ratio: Nigeria Stock Exchange: Equities: Weighted data remains active status in CEIC and is reported by The Nigerian Stock Exchange. The data is categorized under Global Database’s Nigeria – Table NG.Z004: Nigeria Stock Exchange: Price Earnings Ratio.

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.

Nigeria National Disposable Income (NDI) data was reported at 227,265,815.579 NGN mn in 2023. This records an increase from the previous number of 194,056,784.066 NGN mn for 2022. Nigeria National Disposable Income (NDI) data is updated yearly, averaging 106,031,229.942 NGN mn from Dec 2010 (Median) to 2023, with 14 observations. The data reached an all-time high of 227,265,815.579 NGN mn in 2023 and a record low of 52,913,490.930 NGN mn in 2010. Nigeria National Disposable Income (NDI) data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s Nigeria – Table NG.A014: SNA 2008: National Disposable Income: Annual.

Graph and download economic data for Bank's Non-Interest Income to Total Income for Nigeria (DDEI03NGA156NWDB) from 2000 to 2021 about Nigeria, banks, depository institutions, and income.

As of 2019, Sierra Leone witnessed the highest average annual increase of real minimum wages among the African countries between 2010 and 2019, with a significant **** percent. Nigeria and the Democratic Republic of Congo followed with *** percent and *** percent, respectively. In countries such as Kenya, Burkina Faso, Niger, and Equatorial Guinea, the growth of minimum wages was almost negligible with less than *** percent each. On the other hand, Liberia reflected the highest average annual decrease of minimum wages in the continent, at minus **** percent.

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.