Nigeria has been ranked 24th on the list of the cheapest countries in the world, according to the World of Statistics. The ranking was determined based on the cost of living, including the prices of goods and services in each country.
The top five cheapest countries on the list are Pakistan, Egypt, India, Colombia, and Libya. Other countries in the top ten include Nepal, Sri Lanka, Ukraine, Kyrgyzstan, and Syria.
The ranking indicates that Nigeria is among the most affordable places to live in the world, with a cost of living that is lower than countries like Turkey, Argentina, Indonesia, Iran, Mexico, and South Africa.
However, it is important to note that while Nigeria may be an affordable country to live in, the cost of living can vary widely within the country. For example, major cities like Lagos and Abuja are more expensive than smaller towns and villages.
Despite its affordable cost of living, Nigeria is still facing economic challenges, including high unemployment rates and inflation. These issues can make it difficult for some Nigerians to afford basic necessities, despite the country’s overall ranking on the list of cheapest countries.
In conclusion, while being ranked 24th on the list of cheapest countries is a positive indicator for Nigeria, it is important to continue addressing economic challenges and strive towards sustainable economic growth that benefits all Nigerians.
