Lagos Is Fourth Most Expensive City In Africa, Says Survey

Mercer, a firm that produces individual cost of living and rental accommodation cost reports for cities, has ranked Lagos as the fourth most expensive city in Africa among those surveyed. 

Although in comparison with other cities in the world, Lagos, Nigeria’s economic hub continues to remain attractive for foreign investments despite being one of the most expensive cities in Africa. Mercer’s 25th annual Cost of Living Survey showed that currency fluctuations, cost of inflation of goods and services, and volatility in accommodation prices are among the factors that contribute to overall cost of expatriate packages for employees on international engagements. 

Lagos moved up 17 points from last year’s ranking, as one of Mercer’s top five most expensive cities in Africa. Ndjamena, Chad (11), Kinshasa, Democratic Republic of Congo (22) placed second, rising 15 points, while Libreville, Gabon (24) ranked the next African city on the list, followed by Lagos, Nigeria (25).

(Guardian)