How much money do you need to survive 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. In 2020, the minimum wage in Nigeria reached 30 thousand Naira.
What can you buy with 5000 Naira in Nigeria?
$5,000 is N1,800,000 in Nigerian naira, so $5,000 could buy you a whole lot of things….
- 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 is considered a lot of money in Nigeria?
You should be able to survive 45years living in Nigeria with N550,000,000.00. You would be considered wealthy* in Nigeria. The same as anywhere in the world really if you are going to go by international standards.
Is $200 a lot of money 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 loaf of bread in Nigeria?
Average prices of selected food products in Nigeria as of September 2021 (in Naira)
| Characteristic | Prices in Nigerian Naira |
|---|---|
| Bread sliced 500g | 384.73 |
| Bread unsliced 500g | 351.95 |
| Broken rice (Ofada), 1kg | 473.75 |
| Catfish (Obokun), fresh, 1kg | 1,232.25 |
How much is a house in Nigeria in US dollars?
Cost of Accommodation in Nigeria versus The USA
| Apartment Type | Cost of Apartment in the US | Cost of Apartment in Nigeria |
|---|---|---|
| 1 Bedroom Apartment (Metropolitan Areas) | 467,576.76 Naira (1,289.87 Dollars) | 219,750.00 Naira (606.21 Dollars) |
| 1 Bedroom outside the metropolis. | 371,062 (1,023.62 dollars) | 123,794 Naira (341 Dollars) |
How much can you use to build a house in Nigeria?
Wrap Up. This article has provided an insight into the cost of building a house in Nigeria and tips you can use to effectively save costs. In sum, you will need about 12 to 17 million Naira to build a standard 3-bedroom bungalow, depending on your location in the country and other factors.
How much do Nigerians get paid?
Living Wage Individual in Nigeria averaged 42500 NGN/Month from 2015 until 2018, reaching an all time high of 43200 NGN/Month in 2018 and a record low of 41800 NGN/Month in 2015. Nigeria Living Wage Individual – values, historical data and charts – was last updated on December of 2021.
What is a middle class income in Nigeria?
Published 21 May 2019. According to Pew Research reports median, middle-income three-person household earns about $45,000 /N16. 2m to $135,000/N48million. For a single income earner, a salary of around $26,000 to $78,000 qualifies one as middle-income.