As big a country as Nigeria is, it is not without its share of issues. While it is making the effort to face issues head-on, there is still the factor of affordability within the country. The cost of living in Nigeria may be too much for some. For perspective, one U.S. dollar equals ₦366.16 (Nigerian Nairas).
Housing and Utilities:
According to the Nigerian Consulate in Atlanta, “Nigeria is a very cheap country to visit or live in” when compared to the United States. Depending on the location and dimensions, the site lists apartment rentals as costing anywhere from $300 to $2,000 (₦109,835.10 to ₦732,234.03) per year.
As for utilities, the electricity bill averages around $1 to $30 (₦366.16 to ₦10,975) each month. Expatistan, a site that aggregates submissions from expatriates to determine the costs of living in countries worldwide, states that monthly internet access (8 MBps of speed) costs ₦11,495 ($32).
A meal at a restaurant can be as little as 40 cents (₦146.53). If the meal is cordon bleu, the price can rise to $10 (₦3,662.81) per person. In Abuja’s business district, a standard lunch with a drink may cost ₦1,974 ($5.42). In the marketplace, a liter of milk is ₦529 ($1.45), a pound of boneless chicken breast is ₦1,463 ($4.02), two pounds of apples cost ₦1,059 ($2.91) and a bottle of nice red table wine is about ₦1,709 ($4.70).
Airfare to airports within Nigeria’s borders and to neighboring countries tends to cost between $40 to $100 (₦14,647.74 to ₦36,625.45). Sharing a cab can be as little as 20 cents (₦73.25). Renting one might get up to $3 (₦1,098.91) per hour. However, taking that same cab through the city can cost $10 (₦3,662.81) at the most.
The most a commuter bus will charge is 20 cents (₦73.25) but the highest fare for inner-city bus rides (some of which provide amenities such as catering and restroom access) is $35 (₦12,821.99). Incidentally, a monthly bus pass is listed at ₦4,653 ($13).
The cost of living in Nigeria varies noticeably among the country’s products and services. With the government and its people determined to improve wherever possible, the issue of affordability may not be a burden forever.
– Jada Haynes