Cost of living in Akure

Akure, the capital city of Ondo State in Nigeria, offers a unique blend of cultural heritage and modern living. Understanding the cost of living in Akure is crucial for both residents and newcomers, as it helps in budgeting and financial planning.This guide provides a detailed breakdown of various expenses in Akure, including dining, groceries, transportation, housing, and utilities, to give you a comprehensive view of what to expect financially in 2024.

Cost of Living Summary

Dining and Restaurants
  • Inexpensive Restaurant MealA meal at a casual restaurant will typically cost $1.36 on average, with a range between $0.72 and $6.79.
  • Mid-Range Restaurant (Three-Course Meal for Two)For a more upscale dining experience, expect to pay around $16.01, with prices ranging from $16.01 to $88.77.
  • Fast Food (e.g., McDonald's)A McMeal or equivalent combo meal averages $6.99, with a range between $5.33 and $10.
  • Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi)Domestic beer ranges from $0.61 to $2, imported beer $1.03 to $2.66, cappuccino $1 to $3.99, and Coke/Pepsi $0.3 to $0.65.
Grocery Prices
  • MilkMilk is priced between $1.2 and $4 per liter, averaging $1.94.
  • Bread (Loaf of Fresh White Bread)A loaf of fresh white bread costs between $0.35 and $2.18, with an average price of $0.92.
  • Eggs (Dozen)A dozen eggs range from $1.22 to $3.34, averaging $2.06.
  • Fruits (e.g., Apples, Oranges)Apples cost $1.33 to $6.45 per kg, while oranges range from $0.38 to $7.63 per kg.
  • Vegetables (e.g., Potatoes, Lettuce)Potatoes are priced between $0.76 and $3.95 per kg, and lettuce costs $0.39 to $4.36 per head.
Transportation
  • Public Transport (One-Way Ticket)A one-way local transport ticket costs approximately $0.24.
  • Fuel (Gasoline)Gasoline is priced between $0.4 and $0.82 per liter.
  • Taxi FaresTaxi fares start at $1.22, with a cost of $1.03 to $2.72 per km and $3.6 to $7.87 per hour of waiting.
Housing Costs
  • 1-Bedroom Apartment Rent (City Centre)Rent for a 1-bedroom apartment in the city centre averages $361.32.
  • 1-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent averages $240.88.
  • 3-Bedroom Apartment Rent (City Centre)Rent for a 3-bedroom apartment in the city centre averages $602.21.
  • 3-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent averages $481.77.
Utilities
  • Basic Utilities (Electricity, Heating, Water, etc.)Basic utilities for an 85m2 apartment cost between $20.01 and $65.03, averaging $20.01.
  • InternetInternet services range from $16.01 to $65.24, with an average cost of $16.01.

Cost of Living Data

The following pricing data has been gathered from 6 user contributions, as of the most recent update in November, 2024.
Restaurants
Avg / Range
Meal, Inexpensive Restaurant
$1.36
Meal for 2 People, Mid-range Restaurant, Three-course
$16.01
McMeal at McDonalds (or Equivalent Combo Meal)
$6.99
Domestic Beer (0.5 liter draught)
$0.96
Imported Beer (0.33 liter bottle)
$1.61
Coke/Pepsi (0.33 liter bottle)
$0.38
Water (0.33 liter bottle)
$0.21
Cappuccino (regular)
$2.21
Markets
Avg / Range
Milk (regular), (1 liter)
$1.94
Loaf of Fresh White Bread (500g)
$0.92
Eggs (regular) (12)
$2.06
Local Cheese (1kg)
$5.59
Water (1.5 liter bottle)
$0.46
Bottle of Wine (Mid-Range)
$4.00
Domestic Beer (0.5 liter bottle)
$0.90
Imported Beer (0.33 liter bottle)
$1.12
Cigarettes 20 Pack (Marlboro)
$1.20
Chicken Fillets (1kg)
$4.82
Apples (1kg)
$3.79
Oranges (1kg)
$1.78
Potato (1kg)
$1.32
Lettuce (1 head)
$2.15
Rice (white), (1kg)
$1.85
Tomato (1kg)
$1.51
Banana (1kg)
$2.47
Onion (1kg)
$1.73
Beef Round (1kg) (or Equivalent Back Leg Red Meat)
$5.01
Transportation
Avg / Range
One-way Ticket (Local Transport)
$0.24
Gasoline (1 liter)
$0.43
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)
$20,362.82
Taxi Start (Normal Tariff)
$1.22
Taxi 1km (Normal Tariff)
$2.20
Taxi 1hour Waiting (Normal Tariff)
$5.03
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)
$19,386.79
Rent Per Month
Avg / Range
Apartment (1 bedroom) in City Centre
$361.32
Apartment (1 bedroom) Outside of Centre
$240.88
Apartment (3 bedrooms) in City Centre
$602.21
Apartment (3 bedrooms) Outside of Centre
$481.77
Utilities (Monthly)
Avg / Range
Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
$20.01
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL)
$16.01
Mobile Phone Monthly Plan with Calls and 10GB+ Data
$9.34
Sports And Leisure
Avg / Range
Cinema, International Release, 1 Seat
$6.46
Clothing And Shoes
Avg / Range
1 Pair of Jeans (Levis 501 Or Similar)
$21.48
1 Summer Dress in a Chain Store (Zara, H&M, ...)
$24.68
1 Pair of Nike Running Shoes (Mid-Range)
$72.27
1 Pair of Men Leather Business Shoes
$57.80
Salaries And Financing
Avg / Range
Average Monthly Net Salary (After Tax)
$162.38
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate
16.33%
Childcare
Avg / Range
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child
$60.22
International Primary School, Yearly for 1 Child
$2,298.32
Worldwide
Nigeria

Cost of Living Rankings

The cost of living indices for Nigeria are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Nigeria, covering factors like consumer goods, rent, and purchasing power.
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