Lagos is considered to be one of the most expensive places to live in Nigeria being a former capital of the country and a centre of excellence. Because of its status, virtually all Nigerian would have something to do in Lagos at a particular point in their life or at least have one relative living in Lagos.
The lifestyle in Lagos is fast paced and it’s the fastest growing city in Africa. At your first arrival into Lagos, you might get overwhelmed by the chaos, noise and traffic.
However, you might have landed on this page because you’re inquisitive about what it takes to live in Lagos State. It would therefore be a faux pas to lazily generalise the living standard of the people living in a particular city, especially one with highly diverse sets of people.
The cost of living of any individual in Lagos could be determined by some key factors like location, age, social interest, income class and perception of life generally. However, in order to get more correct and precise information regarding the living cost in the state in general, let’s describe the two division- Main Land and Island, separately. Here we go
Cost of Living in Lagos Mainland
Lagos Mainland consists of places like Agege, Apapa, Badagry, Ebute Meta, Festac, Egbeda, Ikeja, IKorodu, Isolo, Ketu, Mushin, Oshodi, Surulere, Yaba. Since the basic Human needs are food, shelter and clothing, for simplicity sake, this article will restrict the cost of living in this state to these three.
Monthly rent of a moderately furnished flat could range from 350,000 to 600,000 naira on the mainland. Some areas like Ikeja could cost more; being the capital of the state. Ikeja generally was once a well-planned and quiet residential suburb. The government reserved area was strictly reserved for the highly affluent ones. Houses with cheaper rents could be found around Ikorodu and its environments.
It doesn’t matter whether you a hipster or foodie or a home cooking buff, Lagos state will take care of you without you having to break the bank.
There are supermarket and restaurants offering whichever food item you desire
The cost of food in Lagos Mainland isn’t much different from that of other parts of the country and it’s not up to what people hype it to be. Though some food Items could be a little bit on the high side. With 250-500 naira you can get a plate of satisfying food.
However, it’s always about how you decide to spend your money and your general living standard.
Most clothing Items are usually imported directly to Lagos, so on the mainland, you would probably find the prices identical to what you were used to, or even cheaper.
One pair of jeans – 2000-5000 naira
T-shirt – 1500-5000 naira
Office shirt – 2000-5000 naira
One pair of shoe 3000-15,000 naira
One 3-piece suit- 20,000-30,000 naira
Note: Luxury clothing items could cost far more than the prices stated above
Cost of Living in Lagos Island
Lagos Island is the principal and central location of the Lagos metropolitan district known for its business by day and leisure by night lifestyle. It is home to numerous companies, businesses as well as leisure and relaxation. The cost of living in this part of Lagos is indiscriminately high. The island consists of Ajah, Ikoyi, Lagos Island, Lekki, Victorial Island and their environment. Lagos Island is connected to the mainland by three large bridges which cross Lagos Lagoon to the district of Ebute Metta. It is also linked to the neighbouring island of Ikoyi and to Victoria Island.
Lagos Island is one of the most expensive places to live in Nigeria. Renting an apartment ranges from 600,000- 10,000,000 naira per annum but, in most cases, hiring companies will not only find and secure housing for their expatriate staff, but they will also foot the bill. Although, not everybody is lucky to have that kind of offer. If you choose a rent on the Island, There is a probability that your service charge might have cater for power supply and some essential services.
Better still, you might decide to purchase your own house outrightly. To purchase a flat at Lagos, keep your budget within 20,000,000 – 100,000,000 naira. One good thing about real estate in Lagos is that in never depreciate. You can decide to put your property on the market, just in case you decide to relocate. If you are a foreigner looking forward to getting some properties in Lagos state, you have to be very cautious of scammers so you won’t get duped.
The cost of everything in Lagos Island is on the high side. A satisfying plate of food may cost you as much as 5000 naira. Some items are almost twice or three times their prices on the mainland. Victorial Island has a countless number of big restaurants and bars of different classes
The Island can just be called a home of luxuries. Though people who don’t mind stress would prefer going to the mainland to get their clothing items just because they are far cheaper there. A summary of the prices of clothing item is as follows.
One pair of jeans – 5000-8000 naira
T-shirt – 3500-8000 naira
Office shirt – 2000-5000 naira
One pair of shoe 5000-15,000 naira
One 3-piece suit- 30,000-50,000 naira
Cost of Transportation in Lagos, Nigeria
Just like accommodation, the cost of driving and getting around in Lagos can also levy some unexpected fees. The relatively rich would prefer to hire a driver to negotiate the treacherous traffic all over the city
Thus, this individual’s monthly salary must be tacked onto the normal costs associated with transport (car payments, petrol and car insurance). Nevertheless, employers often will subsidise these costs.
If you don’t have a car of your own taking public transport in Lagos is another good option. Thanks to the existence of BRT buses. And if you want to be more comfortable you mare order a UBER or Taxify.
Cost of education in Nigeria
For those having children, the cost of sending them to a private international school (the local institutions will not be an option for those who care for standard or their children) is also high; in most cases rivalling the cost of fees associated with universities.
You might get discouraged by all the snatch and grab stories; the extortion stories; the fake ID’s and the fake certificate stories; the fake product stories; the traffic and congestion stories; the lawlessness stories. But do you ever wonder, despite all these negative stories about Lagos, how come there are still more people trooping into this city with the population said to double in the next 15 years? It just because Lagos is sweet and lively if you have the money it takes to live inside it. Good luck.