What is the cost of living in Lagos Nigeria?

Summary about cost of living in Lagos, Nigeria: Family of four estimated monthly costs are 1,900$ (780,846₦) without rent. A single person estimated monthly costs are 520$ (213,829₦) without rent. Lagos is 64.11% less expensive than New York (without rent).

How much does it cost to live in Lagos?

List of prices in Lagos Current as of Jun 2021.

Food [Edit]
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 ₦

What is the average income 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.

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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.

How expensive is it to live 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.

What can you buy with $100 in Nigeria?

$100 is work 36,300 in Nigerian currency.

  • 10 bags of sachet water (pure water)
  • A bottle of water.
  • Transport fare over a short distance within a city.
  • Two beef roll snacks (gala)
  • Some really cheap biscuits.

Who is considered rich in Nigeria?

According to Forbes the 5 richest Nigerians are: Aliko Dangote (net worth US $14.4 billion), Mike Adenuga (net worth US $9.9 billion), Femi Otedola (net worth US$1.85 billion), Folorunsho Alakija (net worth US$1.55 billion), Abdul Samad Rabiu (net worth $1.1 billion).

Is Lagos rich or poor?

Over 60% of the residents of Lagos are poor and live in the over 100 slums and informal settlements scattered across the city. They lack water, sanitation and other basic services. This makes them particularly vulnerable during a health crisis.

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How much is rich in Nigeria?

Above should cost you recurrent expenditure of about N10M a year. Capital cost about N15M a year. You should be able to survive 45years living in Nigeria with N550,000,000.00. You would be considered wealthy* in Nigeria.

How much is $1 US in Nigeria?

Are you overpaying your bank?

Conversion rates US Dollar / Nigerian Naira
1 USD 388.00000 NGN
5 USD 1940.00000 NGN
10 USD 3880.00000 NGN
20 USD 7760.00000 NGN

How much is a Coke in Nigeria?

Cost of living in Nigeria is, on average, 59.02% lower than in United States.

Cost of Living in Nigeria.

Restaurants Edit
Coke/Pepsi (12 oz small bottle) 129.17₦
Water (12 oz small bottle) 91.60₦
Markets Edit
Milk (regular), (1 gallon) 3,805.89₦

Who is the richest kid in Nigeria 2021?

Summary of top 10 richest kids in Nigeria

Rank Name of Kid Net Worth(₦)
1 Mompha Junior 500 million
2 Ahmed Starboy 65 million
3 DJ Young Money 61 million
4 Emmanuella 60 million

What is a good salary in Nigeria?

A person working in Nigeria typically earns around 339,000 NGN per month. Salaries range from 85,700 NGN (lowest average) to 1,510,000 NGN (highest average, actual maximum salary is higher). This is the average monthly salary including housing, transport, and other benefits.

Is Nigeria a good place to live?

Nigeria has great people, a lot of tourist centres, is free from natural disasters and is a great place to live. In summary, Nigeria is a good place for the rich but a bad place for the poor.

What is the coldest month in Nigeria?

Quick Climate Info
Hottest Month March (85 °F avg)
Coldest Month August (79 °F avg)
Wettest Month June (7.35″ avg)
Windiest Month August (8 mph avg)
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