How Much Does a Family of Six Need to Live Comfortably in Nigeria?
I have been wondering how families cope with low purchasing power and rising inflation in Nigeria. One online estimate suggests that a family of six may need about ₦2 million to ₦3.5 million monthly for a good standard of living in Lagos or Abuja. In cities such as Ibadan, Enugu and Kano, the estimate is roughly ₦1.2 million to ₦1.8 million. Government officials say the economy is improving, but many people are still struggling. Are inflation, purchasing power, exchange rates and security really getting better? How much does your family need each month to live comfortably?
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