10 Most Expensive States to Live In Nigeria

Nigeria, Africa’s most populous nation, has increasingly become unbearable to live in for its citizens due to inflation and several economic factors. With the most expensive states to live in Nigeria being Kogi, Bauchi, Oyo and others, economists suggest the road ahead is even bumpier.

In April 2024, the Consumer Price Index (CPI) data for Nigeria painted a grim picture of the escalating cost of living, confirming a rising trend that continues to test the resilience of Nigerians.

The National Bureau of Statistics reported a national inflation rate nearing a historic high at 33.69%, highlighting the pervasive economic pressures reshaping financial stability across the federation.

Central to this uptrend is the stark increase in food prices, which climbed to a troubling 40.53%, serving as the principal catalyst for the all-item inflation rates observed across the states.

In this article, we look deeper into the economic landscapes of the ten most expensive states to live in Nigeria, as dictated by the April inflation metrics.

1. Kogi

Leading the list, Kogi recorded the highest inflation rate at 40.84%, with food prices marginally increasing to 48.62% from 48.47%. This continuous rise emphasizes the severe inflationary pressures that make Kogi the most costly state in Nigeria as of April 2024.

These insights into the financial landscapes of Nigeria’s states reveal the complex interplay between food costs and general inflation, spotlighting the ongoing economic challenges that define the cost of living across diverse regions.

2. Bauchi

Holding its position, Bauchi’s inflation rose to 39.91% despite a slight decrease in food inflation to 33.85%. This indicates a shift where non-food items are starting to exert more influence on the overall inflationary pressures.

3. Oyo

Advancing to third from its fourth position in March, Oyo experienced an uptick in its inflation rate to 38.37%, driven by rising food costs, which increased to 43.53% from 41.83%. This shift points to a heightened economic stress impacting the state’s residents.

4. Ondo

Marking a significant rise, Ondo’s inflation accelerated to 38.12% from 35.81%. The spike in food prices from 43.45% to 45.87% underscores the escalating costs that are reshaping the economic terrain of the state.

5. Rivers

Consistently fifth, Rivers saw a minimal increase in its inflation rate to 37.64%, though food inflation rates slightly declined. This provides a nuanced view of the economic challenges still prevalent in the region.

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6. Kwara

Despite a decrease in rank, Kwara’s inflation rate only slightly reduced to 37.52% from 38.10%. Food inflation, however, continued to rise, suggesting that staple items remain a primary factor in the state’s cost of living.

7. Jigawa

Jigawa’s inflation figures rose significantly, with the general rate reaching 37.31% in April from 34.32% in March. Food costs, a major inflation driver, climbed from 37.77% to 42.48%, amplifying the financial burdens on local households.

8. Osun

Climbing from tenth to eighth, Osun registered a noticeable increase in living costs with an inflation rate of 37.17% in April, up from 35.44% in March. The state’s food inflation also surged, highlighting the significant economic strain on its residents.

9. Lagos

Nigeria’s commercial powerhouse, Lagos, reemerged on the list with a notable inflation jump to 37.15%, a rise of over three percentage points from the previous month. The spike, primarily driven by food prices escalating to 42.99% from 40.65%, underscores the growing cost pressures faced by the metropolitan populace.

10. Abia

Previously holding the eighth rank, Abia has seen a modest uptick in its inflation rate to 36.50% in April, up from 36.09% in March. The state’s economy shows signs of relative stability despite a slight increase in food inflation, which edged up to 44.56% from 44.47%, hinting at continued pressure on consumer wallets.

These insights into most expensive states to live in Nigeria reveal the complex interplay between food costs and general inflation, spotlighting the ongoing economic challenges that define the cost of living across diverse regions.