NGN Value Calculator: Nigeria
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According to World Bank CPI data (FP.CPI.TOTL), ₦1,000 in Nigeria in 2020 had the same purchasing power as ₦2,308.70 in 2024 — a cumulative inflation of 130.9% (23.27%/year average).
You requested data up to 2026, but the latest available year is 2024. Figures below reflect 2024.
Value Over Time
Year-by-Year Historical Data
| Year | CPI | Equivalent Value | Annual Change |
|---|---|---|---|
| 2020 | 302.94 | ₦1,000.00 | - |
| 2021 | 354.30 | ₦1,169.53 | +17.0% |
| 2022 | 421.07 | ₦1,389.95 | +18.8% |
| 2023 | 524.91 | ₦1,732.71 | +24.7% |
| 2024 | 699.39 | ₦2,308.70 | +33.2% |
Quick Reference Values
What 2020 amounts are worth in 2024 in Nigeria:
| 2020 | 2024 |
|---|---|
| ₦1 | ₦2.31 |
| ₦10 | ₦23.09 |
| ₦100 | ₦230.87 |
| ₦1,000 | ₦2,308.70 |
| ₦10,000 | ₦23,087.00 |
Inflation by Decade in Nigeria
| Decade | Cumulative Inflation | Annual Rate |
|---|---|---|
| 1960–1969 | +32.3% | 3.16% |
| 1970–1979 | +271.4% | 15.69% |
| 1980–1989 | +455.1% | 20.98% |
| 1990–1999 | +1,046.8% | 31.14% |
| 2000–2009 | +197.0% | 12.86% |
| 2010–2019 | +167.5% | 11.55% |
| 2020–2024 | +130.9% | 23.27% |
The steepest single-year rise in this period was 33.2% in 2024; the calmest was 17.0% in 2021.
This equals a compound annual rate of 23.27% — about 3 years to double prices at that pace.
- In 2020, ₦1,000 in Nigeria had the same buying power as ₦2,308.70 in 2024.
Frequently Asked Questions
How much is 1,000 NGN from 2020 worth in 2026?
₦1,000 from 2020 is worth about ₦2,308.70 in 2026 in Nigeria, after 130.87% cumulative inflation.
What was the average annual inflation rate in Nigeria between 2020 and 2026?
The average annual (compound) inflation rate was 23.27% over 4 years.