• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, August 5, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Lagos, Abuja Become World’s Cheapest Cities For Foreign Workers — Report

by Nafisat Abdulrahman
1 year ago
in Business
Lagos
Share on WhatsAppShare on FacebookShare on XTelegram

Lagos and Abuja, Nigeria’s commercial and political capitals have been ranked the world’s least expensive cities for expatriates, according to the 2024 Mercer cost of living survey.

Advertisement

The significant depreciation of the Naira has been identified as the primary factor for this ranking, making living costs for international workers more affordable.

The report attributes the Naira’s decline to reforms introduced by President Bola Tinubu, which ended the long-standing currency peg implemented by former Central Bank of Nigeria Governor Godwin Emefiele.

As a result, Lagos and Abuja experienced the most significant drops in the cost of living rankings among 226 global cities between 2023 and 2024.

Despite Nigeria’s soaring inflation rate currently at 33.95% with food inflation over 40%, the depreciation has made these cities cheaper for expatriates.

RELATED

Mixed Performance On Equities Expected This Week

Earnings Optimism Triggers N4.32trn Equities Gain In 5 Days

19 hours ago
Cadbury Nigeria Records N55bn Revenue In 2022

Cadbury Nigeria Records N14.54bn Pre-tax Profit In H1

19 hours ago

In 2023, Lagos was the 47th most expensive city globally, while Abuja was ranked 140th. This year, Lagos plummeted 173 spots to 225th, and Abuja fell to 226th.

The survey notes, “Currency devaluations have been a significant driver of these decreases. The currency-induced falls in the cost of living for international assignees have happened even though inflation in many of these countries has risen.”

The survey further highlights that between March 2023 and March 2024, inflation rates increased by more than 20% in both Nigeria and Angola.

In contrast, the most expensive cities for international assignees are predominantly in Western Europe, with Switzerland housing four of them. However, Hong Kong and Singapore lead the list, ranking first and second, respectively.

In Africa, Lagos and Abuja are the cheapest cities, with Bangui, the capital of the Central African Republic, rising 12 places to 14th globally. Djibouti and N’Djamena follow closely, ranking 18th and 21st, respectively.

Conversely, Blantyre, Lagos, and Abuja are among the least expensive African cities, ranked 221st, 225th, and 226th globally.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




Tags: AbujaBola Ahmed TinubuLagos
SendShareTweetShare
Previous Post

34 Confirmed Dead After Drinking Alcohol In India

Next Post

ASUU Issues 3-week Ultimatum To Federal Gov’t, Threatens Industrial Action  

Nafisat Abdulrahman

Nafisat Abdulrahman

I am a dedicated reporter at Leadership Newspaper, where I bring a keen eye for detail and a passion for storytelling to a diverse range of topics, including business, sports, politics, and international affairs. My work aims to provide readers with accurate, timely, and engaging reports that break down the complexities of current events. From covering high-profile political shifts and court cases to exploring the latest in economic developments and sporting events, I strive to offer insightful and comprehensive coverage. My stories include in-depth analyses of economic trends, detailed political reports, and human interest pieces that highlight significant global and local events. I am committed to delivering news that informs and fosters a deeper understanding of the issues shaping our world. My goal is to engage readers with well-researched and thought-provoking content

You May Like

Mixed Performance On Equities Expected This Week
Business

Earnings Optimism Triggers N4.32trn Equities Gain In 5 Days

2025/08/04
Cadbury Nigeria Records N55bn Revenue In 2022
Business

Cadbury Nigeria Records N14.54bn Pre-tax Profit In H1

2025/08/04
MTN Allots Incentive Shares, As Trading Opens With N4bn Loss
Business

MTNN Posts N414.9bn Profit After Tax In H1

2025/08/04
ASSBIFI Link Forex Rise On Unpatriotism Of Nigerians
Business

Despite Optimism, Forex Inflow Declines By 20.9% In July

2025/08/04
JUST-IN: Inflation In Nigeria Rises Further To 21.91%
Business

Easing Inflation, Currency Stability Prompted IMF’s Nigeria Growth Upgrade – Analysts

2025/08/04
Lagos
Business

Consumers To Access N100m Mortgage Loans In FCMB

2025/08/04
Leadership Conference advertisement

LATEST

Campaigns For 2027 Totally Illegal, Diversionary — Falana

Trump Knocks India Over Russian Oil Trade, Vows Higher Tariff

2027: No Party Can Win Oyo Aside PDP — Makinde

‘Tinubu’s Harsh Economic Policies Have Erased Nigeria’s Middle Class’, Says Falana

Trade, Investment Flourish As UAE-Nigeria Relations Strengthened

Flooding: Borno Needs Modern Drainages, Not Overhead Bridges, Chinedumuije Tells Zulum

Lagos Gov’t Allays Fears As Flood Sacks Residents After Rainfall

WAFCON: Aiyedatiwa Gives Super Falcons’ Tosin Demehin N30m, House

Gov Sani Effects Minor Cabinet Reshuffle In Kaduna

JUST-IN: Tinubu Rewards D’Tigress With OON Honours, $100k Each, Houses

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.