Cost of living in Nigeria : Average Cost For Lagos, Abuja

Cost Of Living in Nigeria { Average Cost For Lagos Abuja and Other Major Nigerian States }

Being updated on the current cost of living in Nigeria is an important information that everyone needs to know. Considering the cost of housing, food and transportation is a basic for expats, tourist and residents of Nigeria.

First of all we would need to know a bit about Nigeria’s economy. Nigeria’s economy is ranked as the 21st largest economy in the world, it is also the largest economy in Africa, and produces a large proportion of goods and services for the West African sub-region.

Cost of Living In Nigeria

Nigeria’s two largest urban centres (Abuja and Lagos) are ranked as two of the most expensive destinations in the world. The figures of the cost of living in Nigeria in this article would be based on this two urban centers, because majority of tourist, visitors, and investors are concentrated in these two
aforementioned locales.

The oil boom of the 1970s, allowed economic expansion and population growth to explode in the country. As a result of this, private investment in luxuries and amenities skyrocketed and the prices followed. Below is the detailed cost of living in Nigeria. This figures may vary depending on your location.

Cost of Housing in Nigeria :

• Furnished two-bedroom apartment = N850,000 yearly rent.
• Furnished two-bedroom villa = N1,500,000 yearly rent.

Cost of transportation in Nigeria :

• City bus fare = N150.
• Taxi rate per kilometre = N300

Cost of electricity in Nigeria :

• Electricity (average per month for standard household) = N20,000

Commodities

• Parboiled rice (1 bag) = N21,000
• Beans (1 bag) = N28,000
• Vegetable oil (25 litres) = N13,000
• Palm oil (25 litres) = N10,000
• Bread (loaf) = N100
• Turkey (1kg) = N1,400
• Chicken (1kg) = N1,100
• Crate of eggs = N900
• Cooking gas (12.5 kg)= N3,700
• Wheat (5kg) = N1,300
• McMeal at McDonalds (or similar restaurant) = N1,500
• Flour (50kg) = N10,000
• Sugar = N17,000

That’s all Cost Of Living in Nigeria { Average Cost For Lagos Abuja and Other Major Nigerian States } , share your thoughts, questions and opinions with us through the comment box and like us facebook @ facebook.com/9jaquest or follow us on twitter.com/NaijaQuest. Thanks

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