Unfavorable Hajji's GDP Income Minimum Wage Analysis

The cost Hajj pilgrimage has become critically expensive. Notably, the removal of federal government subsidy was the mojor factor.

To calculate the per capita income and high cost of Hajj pilgrimage in Nigeria, we'll need to consider the following:

Per Capita Income
- Nigeria's GDP per capita (nominal) is approximately ₦2,500,000 - ₦3,000,000 (around $3,200-$3,900 USD) per year, according to recent estimates.
- Monthly per capita income would be around ₦208,000 - ₦250,000 ($270-$320 USD).

Minimum Wage
- Nigeria's minimum wage is ₦70,000 per month (around $90 USD).

Cost of Hajj Pilgrimage
- The cost of Hajj pilgrimage in Nigeria can range from ₦5 million to ₦10 million (around $6,400-$12,800 USD) or more per person, depending on the package and services offered.

Calculation
- Assuming a 5-year savings period, a pilgrim would need to save around ₦83,000 to ₦167,000 ($110-$220 USD) per month, which is roughly 33% to 67% of the monthly minimum wage (₦70,000).
- For someone earning the average per capita income, the monthly savings would be around 40% to 80% of their monthly income (₦208,000 - ₦250,000).

High Cost of Hajj Pilgrimage
- The high cost of Hajj pilgrimage in Nigeria is attributed to various factors, including:
1. Airfare and transportation costs
2. Accommodation and food expenses in Saudi Arabia
3. Visa fees and other documentation costs
4. Service charges and commissions
5. Currency exchange rates and inflation

The cost of Hajj pilgrimage is a significant burden for many Nigerians, especially considering the country's economic challenges and low per capita income.

In our next edition, the focus is on the above Hajj high cost factors from one to five with deep research and profering solutions.

Sources: HIRO Research, NAHCON, AI Analyst, News reports, 

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