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Cost of living and expenses in Nigeria
What are the costs of living, how much do you have to spend on fees and expenses in Nigeria?
What is the cost of a mortgage, what are the average earnings in Nigeria, and how much do you have to spend on clothes or a flat in the centre or on the outskirts of the city?
Below you will read about the expenses, fees, rental prices, how much you have to pay for clothes or shoes and the cost of living in Nigeria
(The last update: 3 days ago)
Currency in Nigeria Nigerian naira (NGN). For 10 US dollars you can get 16.6 thousand Nigerian nairas. For 100 US dollars you can get 166 thousand Nigerian nairas. And the other way around: For 100 Nigerian nairas you can get 0.0603 US dollars.
See also how prices have changed in previous years: Price changes in previous years in Nigeria
What are the different prices in the cities in Nigeria? Look here: Prices in cities in Nigeria
Prices: Abuja Ibadan Lagos Oyo Abeokuta Jos Kaduna Benin Ilorin Zaria
Pizza prices in Nigeria: Lagos
fees
$28 ($19.1 - $46)
86% is less expensive than in United States
internet
$39 ($19.3 - $65)
by half less than in United States
jeans
$17.7 ($9.6 - $36)
66% is less expensive than in United States
average earnings
$173
96% is less expensive than in United States
renting a small apartment in the center
$858 ($282 - $1.95K)
by half less than in United States
renting a large apartment outside the center
$1.2K ($391 - $3.25K)
by half less than in United States
The cost of living in Nigeria:
- One-way Ticket (Local Transport) $0.67 (NGN 1.1K)
- Monthly Pass (Regular Price) $27 (NGN 45K)
- Gasoline (1 liter) $0.6 (NGN 994)
- Volkswagen Golf 1.4 90 KW (or equivalent new car) $12K (NGN 20M)
- Apartment (1 bedroom) in city centre $858 (NGN 1.42M)
- Apartment (1 bedroom) outside of centre $534 (NGN 885K)
- Apartment (3 bedrooms) in city centre $2K (NGN 3.31M)
- Apartment (3 bedrooms) outside of centre $1.2K (NGN 1.99M)
- Utilities (electricity, heating, water, garbage) for an 85m2 apartment $28 (NGN 47.1K)
- Internet (60 Mbps or more, unlimited data, cable/ADSL) $39 (NGN 64.5K)
- numb_34 $9.5 (NGN 15.8K)
- 1 pair of jeans (Levis 501 or similar) $17.7 (NGN 29.3K)
- 1 Summer Dress in a Chain Store (Zara, H&M,...) $27 (NGN 44.4K)
- 1 pair of Nike running shoes or similar $62 (NGN 103K)
- 1 pair of men's leather shoes $56 (NGN 93.4K)
- Toyota Corolla 1.6l, 97kW Comfort (or equivalent new car) $23.8K (NGN 39.5M)
- Preschool (or Kindergarten), Private, Monthly for 1 Child $84 (NGN 139K)
- Price per square meter for an apartment in the city center $820 (NGN 1.36M)
- International Primary School, Annually for 1 Child $1.6K (NGN 2.66M)
- Price per square meter for an apartment outside of city centre $355 (NGN 589K)
- Average Monthly Net Salary (After Tax) $173 (NGN 286K)
- Mortgage annual interest rate in percentages (%) 20%
- Taxi starting fare (normal tariff) $1.1 (NGN 1.85K)
- Taxi 1km (Normal Tariff) $1.8 (NGN 2.97K)
- Taxi 1 hour waiting (normal tariff) $4.3 (NGN 7.2K)
Price changes in previous years in Nigeria
Price changes in One Square Meter Of An Apartment In The Center over the years: 2012: $479K(NGN 795M), 2013: $436K(NGN 722M), and 2016: $375K(NGN 622M)
Have earnings increased in Nigeria?
See the average salary in previous years in 2012: $124K(NGN 205M), 2013: $111K(NGN 185M), 2014: $128K(NGN 212M), 2015: $127K(NGN 210M), 2016: $81.4K(NGN 135M), 2017: $72.6K(NGN 120M), and 2018: $72.2K(NGN 120M)
Price changes in Fees over the years: 2012: $17.3K(NGN 28.7M), 2013: $12K(NGN 20M), 2014: $25.5K(NGN 42.2M), 2015: $27.3K(NGN 45.3M), 2016: $15.8K(NGN 26.3M), 2017: $11.7K(NGN 19.4M), and 2018: $9.88K(NGN 16.4M)
Price changes in Internet over the years: 2012: $14.6K(NGN 24.3M), 2013: $13.6K(NGN 22.5M), 2015: $14.8K(NGN 24.5M), 2016: $14.3K(NGN 23.7M), 2017: $20.1K(NGN 33.3M), and 2018: $14.3K(NGN 23.7M)
Have prices changed in clothing stores in Nigeria in recent years?
For example, this is how the prices of jeans have changed in 2012: $11.1K(NGN 18.4M), 2013: $9.56K(NGN 15.9M), 2014: $7.1K(NGN 11.8M), 2015: $4.26K(NGN 7.06M), 2016: $4.44K(NGN 7.36M), 2017: $8.54K(NGN 14.2M), and 2018: $7.15K(NGN 11.9M)
Do you want to learn more about different prices? See the following comparison:
coffee
$2.5 ($0.56 - $5.7)
by half less than in United States
Burger King or a similar bar
$6 ($4.5 - $7.8)
by half less than in United States
cheese
$3.7 ($1.6 - $15.5)
72% is less expensive than in United States
bananas
$2.3 ($1.2 - $5.5)
39% more than in United States
jeans
$17.7 ($9.6 - $36)
66% is less expensive than in United States
rice
$2.3 ($1 - $4.6)
by half less than in United States