Cost of Living in Nigeria
According to the annual Mercer Cost of Living Survey, Lagos ranks as the 30th most expensive expat city, well behind the top three of Moscow, Tokyo and London.
For 90% of the Nigerian population the cost of living is around $1 per day. Expats in Nigeria however will need considerably more than that to enjoy a good standard of living. By some expat estimates, in order to enjoy a good standard of living, Nigeria expats will need to earn from $200 000 per annum, excluding the cost of housing, education and medical care. A bachelor with less financial obligations can get by on around $120,000.Cigarettes, petrol and local beer are very cheap – which acts as a major perk for many expats. Groceries, house rent and any imported goods can be very expensive though. Staff members, such as driver, guard or domestic helper, cost from $150 per month. Utilities are relatively cheap but very unreliable.
Rental agreements generally require a whopping 2 years rent as deposit up front, with a further 10% for other costs. Annual rental charges for a 4-bedroom house will range from 2 to 6 million Naira per year.
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