Nigerian Naira: if you had bought gold, dollars or euros 10 years ago?
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Which one beat inflation?
In everyday units
The same money, counted in minimum wages and Big Macs.
Prices used in this calculation
About the data
BData quality: B · CPI through August 2026 · Sources: IMF, BIS, World Bank, ILO
Notes
- Official data with a known caveat (rebase, dispute or short history).
- CPI series: IMF:NGA
- Nigeria unified its exchange rates in 2023; earlier official rates understate the market rate.
- Official monthly CPI history starts after 2000.
Sources
- IMF Consumer Price Index (CPI) datasetAttribution: International Monetary Fund, Consumer Price Index (CPI) dataset. License: IMF terms (https://www.imf.org/en/About/copyright-and-terms); commercial reuse: ask copyright@imf.org
- US BLS CPI-U, not seasonally adjusted (CUUR0000SA0)Attribution: U.S. Bureau of Labor Statistics. License: Public domain
- Eurostat HICP, euro area (prc_hicp_minr, prc_hicp_midx)Attribution: Eurostat. License: Eurostat reuse policy (Commission Decision 2011/833/EU)
- Frankfurter v2 exchange rates (multi-provider blend incl. BIS)Attribution: Frankfurter (frankfurter.dev); Bank for International Settlements and central banks. License: Free API; rates under each provider's terms (BIS, ECB, IMF, central banks)
- World Bank Commodity Price Data (The Pink Sheet)Attribution: World Bank Commodity Price Data (The Pink Sheet), CC BY 4.0. License: CC BY 4.0
- ILO, ILOSTAT: statutory monthly minimum wage by currency (DF_EAR_INEE_CUR_NB)Attribution: International Labour Organization, ILOSTAT (CC BY 4.0). License: CC BY 4.0
- Eurostat monthly minimum wages, semi-annual (earn_mw_cur)Attribution: Eurostat. License: Eurostat reuse policy (Commission Decision 2011/833/EU)
- T.C. Çalışma ve Sosyal Güvenlik Bakanlığı: yıllar itibarıyla net ve brüt asgari ücretAttribution: T.C. Çalışma ve Sosyal Güvenlik Bakanlığı. License: Public government table
- BIS residential property price statistics, nominal (WS_SPP)Attribution: Source: BIS residential property price statistics. License: Free with citation; no extra charge to users (https://data.bis.org/help/legal)
- OECD analytical house price indicators, nominal HPIAttribution: OECD Analytical house price indicators (CC BY 4.0). License: CC BY 4.0
- The Economist, Big Mac index (big-mac-data), local priceAttribution: The Economist, big-mac-data (MIT License, © 2018 The Economist Newspaper). License: MIT License
Data generated 2026-10-20 · Sources
Show the math
What NGN 1,000,000 would be worth in August 2026
| Bought | gold | silver | US Dollar | Euro | keep as cash |
|---|---|---|---|---|---|
| 1 year ago August 2025 | NGN 1,156,415 ×1.00 | NGN 1,511,692 ×1.31 | NGN 882,976 ×0.77 | NGN 879,722 ×0.76 | NGN 1,000,000 ×0.87 |
| 5 years ago August 2021 | NGN 8,121,818 ×2.85 | NGN 8,956,142 ×3.15 | NGN 3,286,657 ×1.15 | NGN 3,237,252 ×1.14 | NGN 1,000,000 ×0.35 |
| 10 years ago August 2016 | NGN 13,997,348 ×2.59 | NGN 14,188,457 ×2.63 | NGN 4,252,198 ×0.79 | NGN 4,396,793 ×0.81 | NGN 1,000,000 ×0.19 |
| 20 years ago August 2006 | NGN 73,866,505 ×5.02 | NGN 56,824,042 ×3.86 | NGN 10,600,204 ×0.72 | NGN 9,591,807 ×0.65 | NGN 1,000,000 ×0.07 |
Each cell shows the value in the end month, then the real multiple (adjusted for inflation in Nigerian Naira; ×1.00 means the same purchasing power). Monthly average prices, no fees or taxes.