Lagos, Nigeria is the 25th most expensive city in the world. Having moved up seventeen places from last year’s ranking, Nigeria’s commercial hub is one of Mercer’s top 5 costliest cities in Africa.
How expensive is Lagos?
Summary about cost of living in Lagos, Nigeria: Family of four estimated monthly costs are 1,906$ (781,431₦) without rent. A single person estimated monthly costs are 522$ (214,048₦) without rent.
How much does it cost to live in Lagos?
List of prices in Lagos Current as of May 2021.
|Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area||440,404 ₦|
|Utilities 1 month (heating, electricity, gas …) for 2 people in 85m2 flat||26,396 ₦|
|Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area||150,984 ₦|
Why is Lagos Nigeria so expensive?
He added that Lagos is expensive compared to other parts of the country, but that was like comparing prices between “London and Milton Keynes.” “The greater the population and the greater the demand for goods, then the forces of demand and supply will push up the price,” he said.
Is Lagos an expensive city?
What’s a bit more interesting is to find Lagos on the list of cities with most expensive office costs. Lagos is in the top 20 most expensive cities for startups to rent and occupy office space, (number one in Africa). It is also the 7th most expensive city in the world to live and work in (again number one in Africa).
Is $100 a lot of money in Nigeria?
Largely depends on who you ask. $100 is around 36,000 Naira which is twice our current official minimum monthly wage. To someone who earns minimum wage, which unfortunately is the bulk of the Nigerian populace, it is a lot of money.
What is a good salary in Lagos Nigeria?
A person working in Lagos typically earns around 351,000 NGN per month. Salaries range from 88,800 NGN (lowest average) to 1,570,000 NGN (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.
Is 50 dollars a lot in Nigeria?
To answer your question, $50 is worth just about NGN17,750 (using $1 = NGN355). Where NGN represents Nigerian Naira. You can only do grocery shopping with that amount of money and if you’re a spender, that may not last you more than a day.
How much is monthly rent in Nigeria?
Cost of living in Nigeria chart
|Accommodation (monthly rent)|
|Three-bedroom apartment in city centre||NGN 400,000|
|Three-bedroom apartment outside of city centre||NGN 80,000|
|One-bedroom apartment in city centre||NGN 150,000|
|One-bedroom apartment outside of city centre||NGN 40,000|
How much do you need to live comfortably in Nigeria?
If you’re traveling to Nigeria, around 500$ should cover your basic monthly expenses (food, social life, a bit of shopping and other expenses) even with the recession that is in effect right now.
How much is a meal in Nigeria?
Cost of Living in Nigeria
|Meal, Inexpensive Restaurant||600.00₦|
|Meal for 2 People, Mid-range Restaurant, Three-course||8,000.00₦|
|McMeal at McDonalds (or Equivalent Combo Meal)||2,000.00₦|
|Domestic Beer (1 pint draught)||300.00₦|
How safe is Nigeria?
There is a high level of crime throughout Nigeria, including armed robbery, kidnapping for ransom, home invasions, carjacking and violent assault. Criminal activity is high in urban areas, including the city of Lagos, as well as on the northern border with Niger and Chad.
What is the minimum wage in Nigeria?
President Muhammadu Buhari in 2019 signed into law a bill to increase Nigeria’s monthly minimum wage to 30,000 naira ($79) from 18,000.
Where is the cheapest place to live in Lagos?
Below is a curated list of the most affordable areas to live on the Lagos mainland.
- Baruwa Ipaja.
Is 500 a lot of money in Nigeria?
$500 is a handful of money, you could engage in a start-up and it sure would take you a long way. Although depending on ones location, There are people who open a beauty bar and generate mild income.
How much do houses cost in Nigeria?
The average price of houses for sale in Nigeria is ₦75,000,000.