In the intricate landscape of global economics, Nigeria has emerged as a fascinating anomaly in 2024.

Despite facing challenges such as soaring inflation and a depreciating currency, the West African nation boasts the lowest cost of living index in Africa and the second lowest in the world, according to Numbeo, a prominent data platform specializing in consumer prices and quality of life metrics.

Despite Nigeria's staggering inflation rate, which currently stands at 28.92% - its highest in 18 years with a consistent upward trend over the past 13 months - the country's cost of living index remains remarkably low on a global scale.
Traditionally, inflation is associated with increased living expenses. However, Nigeria's situation challenges this conventional wisdom.

ALSO READ: Lowest Cost of Living: Top 10 African Countries
https://africafactszone.com/lowest-cost-of-living/

Despite factors like housing, transportation, food, and healthcare costs, the country maintains one of the world's lowest cost of living indices, presenting a noteworthy case study.

ALSO READ: Highest Cost of Living 2024 – Top 10 African Countries
https://africafactszone.com/highest-cost-of-living-2024/

Numbeo gathers its data from user inputs and manual collection from authoritative sources such as supermarket websites, government institutions, and surveys, with updates twice a year.

Continue Reading: https://africafactszone.com/nigeria-boasts-2nd-lowest-cost-of-living/

All these nonsense theories they used to deceive Nigeria government. Suffering in Nigeria cannot be compared with any other country. Just compares people working here in Najia, when any of them japa abroad their life becomes better. All these are nonsense statistics that never add up to how people live here

Nigeria has a system very complex to understand...

Yes when you convert the naira to dollars it ejll be the cheapest to live in. But problem is Nigeria dont earn in dollars.

Foreigners can come in with 10k usd and live in suburb in Nigeria like king. Why Nigerian who travel out with 10k usd live in ghetto like slave over there.

That’s what inflation is all about

brain54:
Nigeria has a system very complex to understand...

Why are you trying so hard to understand the system
If system no dey e no dey
Don't stress your brain

Bullfallo:
Yes when you convert the naira to dollars it ejll be the cheapest to live in. But problem is Nigeria dont earn in dollars.

Foreigners can come in with 10k usd and live in suburb in Nigeria like king. Why Nigerian who travel out with 10k usd live in ghetto like slave over there.

That’s what inflation is all about

To see the one dallar hard pass to see 1k dollar in the US

dem suppose arrest all this useless statisticians. na we no wetin our eyes dey see for this blessed(by God) but impoverished(our leaders) nation.

People who don't live in Nigeria are giving statistics about Nigeria.
Nigerian minimum wage of 27$ per month is less than 4 hours wage in some countries.

Zaheertyler:

Why are you trying so hard to understand the system
If system no dey e no dey
Don't stress your brain

I believe in one Nigeria...

Do you just give up or quit on situations in life when things aren't working or going according to plans?

Besides some of the "systems" today that you probably admire took so much years, turmoil and blood to build to where there are today.

I am sure you have an idea just how disorderly and disorganized countries like the US for example were and the number of wars and struggles it took them to get to were they are today. The situation was so crazy it was called the "wild west"

But look were they are today. And guess what... They are still trying to improve and better themselves as a country because really they is no utopia or perfect system.

Nigeria will be great... It will just take time!

brain54:

I believe in one Nigeria...

Do you just give up or quit on situations in life when things aren't working or going according to plans?

Besides some of the "systems" today that you probably admire took so much years, turmoil and blood to build to where there are today.

I am sure you have an idea just how disorderly and disorganized countries like the US for example were and the number of wars and struggles it took them to get to were they are today. The situation was so crazy it was called the "wild west"

But look were they are today. And guess what... They are still trying to improve and better themselves as a country because really they is no utopia or perfect system.

Nigeria will be great... It will just take time!

I believe in it too sir
But rn. There is no system