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.Â
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.Â
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.
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The Punch. (July 23, 2024). Monthly minimum wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian naira) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 24, 2026, from /statistics/1119133/monthly-minimum-wage-in-nigeria/
The Punch. "Monthly minimum wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian naira)." Chart. July 23, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 24, 2026. /statistics/1119133/monthly-minimum-wage-in-nigeria/
The Punch. (2024). Monthly minimum wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian naira). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 24, 2026. /statistics/1119133/monthly-minimum-wage-in-nigeria/
The Punch. "Monthly Minimum Wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian Naira)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 23 Jul 2024, /statistics/1119133/monthly-minimum-wage-in-nigeria/
The Punch, Monthly minimum wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian naira) ÌÇÐÄÆƽâ°æ, /statistics/1119133/monthly-minimum-wage-in-nigeria/ (last visited July 24, 2026)
Monthly minimum wage in Nigeria from 2018 to 2024 (in 1,000 Nigerian naira) [Graph], The Punch, July 23, 2024. [Online]. Available: /statistics/1119133/monthly-minimum-wage-in-nigeria/
