NIGERIA

Benchmark Studies and Yearly Updates

RURAL NIGERIA, CROSS RIVER AND BENUE STATES

Featured

Jun 1, 2024

Benchmark Report: Living Wage Report and 2024 Update for Rural Nigeria, Cross River and Benue States

Jun 1, 2024

This report estimates a living income (and the living wage which can be found in the annex) for rural areas in the states of Cross River and Benue in Nigeria. It uses the Anker Methodology, whereby secondary data from existing household surveys are combined with primary data collected in new fieldwork, as in a typical Anker Methodology living wage and income benchmark study.

Jun 1, 2024

Reference Values and Yearly Updates

RURAL NIGERIA - LIVING INCOME

Nigeria Reference

Jun 1, 2024

Reference Value Report: Living Income Report and 2024 Update for Rural Nigeria

Jun 1, 2024

This report updates the Anker Living Income Reference Value for rural Nigeria to 2024. This was NGN 138,678 (USD 365) for 2020 in the original report. The updated Anker Living Income for 2024 is NGN 307,691 (USD 208). This update takes into account the amount of inflation to mid-2024 for the country since mid-2020. Accumulated inflation in this period was 121.9% . Without accounting for inflation, the living income estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2024, because the purchasing power of the living income would have decreased. Note that the Living Income Reference Value in USD is lower in June 2024 compared to June 2023 due to the sharp devaluation of the Nigerian Naira during this period.