The National Bureau of Statistics recently released its GDP by Expenditure between 1981 and 2016. The data also included Nigeria’s employee compensation every year since 1981, providing us with an insight into just how far Nigerians have come when it comes to salaries.
See chart below; Employee Compensation
The numbers seem astronomical on paper and suggest salaries have been on the rise. However, that these figures are gross and as such you will have to adjust for inflation to actually see whether Nigeria has improved. The NBS did not provide that data but did give us Real GDP Growth rate for Employee Compensation.
See chart below; Employee Compensation Real GDP
It’s obvious from above that we have not actually done quite well when this figure is adjusted for inflation. The swings in the chart suggest our real wages have largely fallen over the years even as it has risen nominally.