How Much Does It Cost To Live In Lagos Nigeria?

Cost of Living in Lagos.

Summary about cost of living in Lagos: Four-person family monthly costs: 1,828.34$ (704,811.10₦) without rent (using our estimator).

A single person monthly costs: 499.47$ (192,542.05₦) without rent.

What is the average income in Lagos Nigeria?

The survey was conducted with 1,004 middle-class Nigerians, with an average monthly income of between N75,000 and N100,000 (US$480 and $645). Participants were drawn from the cities of Lagos, Abuja and Port Harcourt. 70% of respondents were aged 40 and younger.

How much do you need to live comfortably in Nigeria?

Now to how much is needed to live a comfortable life in Lagos. If all factors listed above are carefully considered, an income between #80, 000 and #150, 000 is good for a start for a bachelor or bachelorette; #120, 000 to #180 000 for a family of three or four; and anything above #200000 for any family above four.

How expensive is it to live in Nigeria?

WARNING!

Food
Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area265,607 ₦
Utilities 1 month (heating, electricity, gas ) for 2 people in 85m2 flat22,355 ₦
Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area263,930 ₦

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Is $100 a lot of money in Nigeria?

Yes it is! Now $100 translates — going by the most current exchange rate, which is put at 360 NGN to a dollar— to 36,000 NGN. So with the above info at the back of our minds, $100 is a significant amount of money to over 80% of the population! Now that is a lot of money by that standard.

Is Lagos safe to live?

Lagos is about the safest place to live in Nigeria, especially given that the Expat will not live in the ghettos. Although highly populated, and by extension highly congested, Lagos is Nigeria’s and indeed Africa’s commercial hub. Thus, the presence of Expats in the city has become a norm for the locals.

How much is rich in Nigeria?

2015

World rankingNameNet worth (USD)
67Aliko Dangote17.7 Billion
393Mike Adenuga4.2 Billion
949Folorunsho Alakija2.0 Billion
1741Femi Otedola1.0 Billion

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