The cost of living is inexpensive when compared to other countries. It is still expensive if you need to live on a Nigerian salary. And many people, more than half of the population, in Nigeria live on subsistence farming without a formal salary.
The biggest cities in Nigeria, Lagos or Abuja, are expensive when compared to other big cities around the world. Rural areas and small towns are more affordable.
As a reference, 1,000 Nigerian Nairas, or ₦, are about 2.50 US Dollars. That is also around 185 Indian Rupees, or around 16 Chinese Yuan, CNY, or around 2.30 Euros, EUR.
What is the cost of living in Nigeria?
These are some of the costs of services and things you might need while living or traveling in Nigeria.
There is a great difference between living in rural areas or in small towns and living in big cities.
Here I talk about the cost of living in Nigeria in big cities. The cost of living in small towns or rural areas is more difficult to calculate because many people in these areas live on subsistence farming.
You can find cheap accommodation in Nigeria but it is going to be very basic accommodation. That means a room or a house. You can find more expensive accommodation, especially in bigger cities, but remember to consider the costs of a generator as electricity sometimes is off. You might also consider costs for security as in some areas crime can be worrisome.
You might be also asked to pay months of rent in advance.
Utility consumption is another important expense to consider. You might want to invest in a generator if you need back up the local grid that sometimes goes off. But generators are also very expensive to buy and maintain so you might just want to adapt and just take a break when electricity if off.
Transport can also become a considerable expense if you travel often through the country. Using public transport in Nigeria can be an interesting experience if you are a tourist for some weeks. But if you travel more regularly, you will have to rent a car and a driver, and that becomes expensive.
Prices in Nigeria
These are some of the prices you might see in Nigeria.
Restaurants and cafes
A meal in an inexpensive restaurant is around 500 ₦, or Nigerian Nairas. And a meal of three courses for two people in an average restaurant is 6,000 ₦. A meal at Mcdonald’s is 1,600 ₦.
Half a liter of draught domestic beer is 300 ₦. And a small bottle of imported beer is 500 ₦.
A regular cappuccino is 700 ₦. A small liter bottle of Coke or Pepsi is 125 ₦. A small bottle of water is 90 ₦.
A liter of regular milk is 800 ₦.
A loaf of fresh white bread is 300 ₦.
A kilogram of white rice is 700 ₦.
Twelve regular eggs are 500 ₦.
Local Cheese (1kg) 1,286.57 ₦
Chicken Breasts (Boneless, Skinless), (1kg) 1,380.36 ₦
Beef Round (1kg) (or Equivalent Back Leg Red Meat) 1,410.36 ₦
Apples (1kg) 1,066.67 ₦
Banana (1kg) 538.82 ₦
Oranges (1kg) 627.22 ₦
Tomato (1kg) 579.41 ₦
Potato (1kg) 638.26 ₦
Onion (1kg) 381.71 ₦
Lettuce (1 head) 291.67 ₦
Water (1.5 liter bottle) 165.38 ₦
Bottle of Wine (Mid-Range) 2,000.00 ₦
Domestic Beer (0.5 liter bottle) 309.60 ₦
Imported Beer (0.33 liter bottle) 533.33 ₦
Cigarettes 20 Pack (Marlboro) 300.00 ₦
One-way Ticket (Local Transport) 200 ₦.
Monthly Pass (Regular Price) 7,000 ₦.
Taxi 1hour Waiting (Normal Tariff) 1,500.00 ₦
Gasoline (1 liter) 145.08 ₦
Basic electricity, heating, cooling, water, and garbage for an Apartment of 85 squared meters is 9000 ₦
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 18.36 ₦
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 14,200.00 ₦
Sports and leisure
Fitness Club, Monthly Fee for 1 Adult 12,181.82 ₦
Tennis Court Rent (1 Hour on Weekend) 2,954.17 ₦
Cinema, International Release, 1 Seat 2,000.00 ₦
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 34,261.80 ₦
International Primary School, Yearly for 1 Child 523,947.37 ₦
Clothing and shoes
1 Pair of Jeans (Levis 501 Or Similar) 6,292.68 ₦
1 Summer Dress in a Chain Store (Zara, H&M, …) 8,969.70 ₦
1 Pair of Nike Running Shoes (Mid-Range) 19,166.67 ₦
1 Pair of Men Leather Business Shoes 23,115.38 ₦
Rent per month
Apartment (1 bedroom) in City Centre 215,729 ₦
Apartment (1 bedroom) Outside of Centre 119,695.91 ₦
Apartment (3 bedrooms) in City Centre 623,752.85 ₦
Apartment (3 bedrooms) Outside of Centre 318,475.96 ₦
The average monthly net salary after tax is around 68,000 ₦.