Authored by the expert who managed and guided the team behind the Nigeria Property Pack
Everything you need to know before buying real estate is included in our Nigeria Property Pack
Nigeria remains one of the most affordable retirement destinations for foreigners earning in dollars or euros, but the cost of living in Nigeria varies dramatically depending on which city and neighborhood you choose.
In this guide, we break down exactly how much money you need to retire in Nigeria in 2026, from bare minimum survival budgets to luxury living, with real numbers for housing, healthcare, visas, and property prices.
We constantly update this blog post with fresh data on current housing prices in Nigeria and monthly expenses for retirees.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Nigeria.
How much money do I need to retire in Nigeria right now?
What's the absolute minimum monthly budget to survive in Nigeria?
The absolute minimum monthly budget to survive in Nigeria in 2026 is around 650,000 to 1,000,000 naira per month if you live like a local, which translates to roughly $450 to $700 USD or about 420 to 650 euros.
At this minimum budget level in Nigeria, you can cover basic rent in a modest neighborhood outside prime areas, local food from markets, minimal air conditioning use, basic transportation, and essential utilities, but you will need to accept inconsistent power supply and limited access to imported goods.
The biggest trade-offs at this survival level in Nigeria include living without reliable backup power (which means frequent blackouts), relying mostly on public transport or okadas, eating almost entirely local food, and likely not affording private healthcare, which many foreigners consider essential given the quality variation in public hospitals across Nigerian cities.
What lifestyle do I get with $2,000/month in Nigeria in 2026?
As of early 2026, a budget of $2,000 per month (around 2,860,000 naira or 1,850 euros) gives you a solid middle-class lifestyle in Nigeria, especially if you choose neighborhoods wisely outside the ultra-prime areas of Lagos or Abuja.
On this budget in Nigeria, you can realistically afford a decent one or two-bedroom apartment in areas like Ikeja GRA, Yaba, Gbagada, or parts of Lekki in Lagos, or Gwarinpa and Wuse in Abuja, with monthly rent equivalent to about 400,000 to 800,000 naira ($280 to $560 or 260 to 520 euros) when averaged from annual payments.
Social and leisure activities accessible on $2,000 per month in Nigeria include regular dining at mid-range Nigerian restaurants, occasional visits to fitness clubs, local travel on weekends within Nigeria, and entertainment like cinema, but imported goods and high-end restaurants remain occasional treats rather than daily habits.
The main limitation at this budget in Nigeria is that prime neighborhoods like Ikoyi, Victoria Island, or Maitama become very tight, and you will need to carefully manage power costs since running generators and inverters consistently can eat into your budget quickly in Nigerian cities.
What lifestyle do I get with $3,000/month in Nigeria in 2026?
As of early 2026, $3,000 per month (around 4,290,000 naira or 2,780 euros) provides a genuinely comfortable lifestyle in Nigeria, allowing you to live in better neighborhoods without constantly watching every naira.
At this budget level in Nigeria, you can afford a nicer apartment in sought-after areas like parts of Lekki Phase 1, Wuse 2, or even some units in Victoria Island, with monthly rent equivalents ranging from 800,000 to 1,500,000 naira ($560 to $1,050 or 520 to 970 euros) depending on the building quality and security features.
With $3,000 per month in Nigeria, dining out becomes a regular pleasure rather than an occasional treat, you can enjoy weekend trips to destinations like Calabar, Obudu Ranch, or domestic flights to Abuja or Port Harcourt, and you can afford consistent air conditioning without stressing about fuel costs for your generator or inverter maintenance.
The key upgrade from a $2,000 budget to $3,000 per month in Nigeria is peace of mind about power reliability and the ability to live in newer buildings with better security, service charges, and backup systems already included, which removes the daily hassle that makes lower budgets more stressful in Nigerian cities.
What lifestyle do I get with $5,000/month in Nigeria in 2026?
As of early 2026, $5,000 per month (around 7,150,000 naira or 4,630 euros) puts you in high-comfort territory in Nigeria, while $10,000 per month (around 14,300,000 naira or 9,260 euros) opens the door to genuine luxury living with full staff and premium everything.
At $5,000 per month in Nigeria, you can access premium apartments in areas like Lekki Phase 1, Victoria Island, or Jabi and Wuse 2 in Abuja, with monthly rent equivalents from 1,500,000 to 3,000,000 naira ($1,050 to $2,100 or 970 to 1,940 euros), while $10,000 per month unlocks top-tier Ikoyi or Maitama properties where annual rents can exceed 50,000,000 naira.
Luxury amenities accessible at the $5,000 to $10,000 per month range in Nigeria include dedicated drivers, full-time household staff, premium gym memberships, regular international-quality dining, the ability to fly out for medical procedures if needed, imported groceries without budget constraints, and access to gated communities with 24-hour security and reliable power infrastructure that most of Nigeria lacks.
How much for a "comfortable" retirement in Nigeria in 2026?
As of early 2026, a comfortable retirement in Nigeria requires about 3,500,000 to 5,000,000 naira per month, which translates to approximately $2,500 to $3,500 USD or 2,300 to 3,250 euros, depending on whether you choose Lagos, Abuja, or a quieter city like Calabar or Ibadan.
To stay safe in Nigeria's volatile economic environment, you should add a buffer of at least 20% to your monthly budget, which means setting aside an extra 700,000 to 1,000,000 naira ($500 to $700 or 460 to 650 euros) each month to handle inflation spikes, unexpected medical costs, or currency fluctuations that regularly affect foreigners in Nigeria.
A comfortable retirement budget in Nigeria covers expenses that a basic budget simply cannot, including private health insurance with out-of-pocket reserves, consistent backup power without stress, occasional household help, domestic travel for leisure, a car or regular ride-hailing use, and the ability to dine at restaurants and buy some imported goods without constant calculation.
How much for a "luxury" retirement in Nigeria in 2026?
As of early 2026, a luxury retirement in Nigeria requires about 8,500,000 to 14,300,000 naira per month, which translates to approximately $6,000 to $10,000 USD or 5,550 to 9,260 euros, with the higher end necessary if you want prime Ikoyi or Maitama addresses.
Luxury retirement in Nigeria means a high-end apartment or house in a serviced estate with 24-hour power (no generator worries), a dedicated driver earning around 150,000 to 250,000 naira per month ($105 to $175 or 97 to 162 euros), household staff, premium international health insurance costing 500,000+ naira per month ($350+ or 325+ euros), imported groceries, fine dining, and the freedom to travel internationally without budget constraints.
The most popular neighborhoods among luxury retirees in Nigeria are Ikoyi and Victoria Island in Lagos, where the expat infrastructure is most developed, and Maitama and Asokoro in Abuja, which offer a quieter atmosphere with high security and proximity to embassies and international organizations.
The main advantage of a luxury budget in Nigeria beyond comfort is resilience: at this level, you are insulated from the power outages, inflation shocks, and logistical frustrations that make lower budgets more stressful, and you can afford to fly to Dubai, South Africa, or Europe for specialized medical care without financial strain.
We have made this infographic to give you a quick and clear snapshot of the property market in Nigeria. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
What are the real monthly expenses for retirees in Nigeria in 2026?
What is a realistic monthly budget breakdown by category in Nigeria?
A realistic monthly budget breakdown for a retiree living comfortably in Nigeria in 2026 includes housing (30 to 40% of budget), power and utilities (10 to 15%), food and groceries (15 to 20%), healthcare (8 to 12%), transportation (8 to 12%), and miscellaneous including household help and entertainment (10 to 15%), with total spending around $2,500 to $3,500 USD or 2,300 to 3,250 euros.
Housing costs in Nigeria typically consume 30 to 40% of a retiree's monthly budget, which means around 1,000,000 to 1,800,000 naira ($700 to $1,260 or 650 to 1,170 euros) when you average out the annual rent payments that most Nigerian landlords require upfront.
Food and groceries in Nigeria typically take up 15 to 20% of a retiree's budget, translating to roughly 500,000 to 900,000 naira per month ($350 to $630 or 325 to 580 euros), with the higher end applying if you buy imported products regularly from supermarkets like Shoprite rather than local markets.
The budget category that varies most in Nigeria depending on personal lifestyle is power and utilities, because some retirees in well-serviced estates pay bundled service charges while others in less reliable areas spend heavily on generator fuel, diesel, inverter batteries, and maintenance, which can swing costs by 200,000 to 400,000 naira per month ($140 to $280 or 130 to 260 euros).
What fees surprise foreigners most after moving to Nigeria?
The top three hidden fees that surprise foreigners in Nigeria are annual rent paid entirely upfront (often one to two years in advance), the ongoing cost of backup power including generator fuel, inverter batteries, and maintenance, and the recurring immigration paperwork and renewal fees for residence permits that can add up to hundreds of dollars each year.
One-time setup fees that foreigners should budget for when first arriving in Nigeria include security deposits on apartments (often equivalent to several months' rent), generator or inverter purchase and installation if not included in your building, furniture if renting unfurnished, and initial visa and CERPAC residence permit processing, which together can total 2,000,000 to 5,000,000 naira ($1,400 to $3,500 or 1,300 to 3,250 euros) depending on your housing choice and immigration pathway.
What's the average rent for a 1-bedroom or a 2-bedroom in Nigeria in 2026?
As of early 2026, the average monthly rent for a 1-bedroom apartment in Nigeria ranges from 200,000 to 800,000 naira ($140 to $560 or 130 to 520 euros) depending on city and neighborhood, while a 2-bedroom apartment averages 400,000 to 1,500,000 naira ($280 to $1,050 or 260 to 970 euros) per month when annualized from the typical yearly payment structure.
For a 1-bedroom in Nigeria, the realistic rent range spans from about 150,000 naira per month ($105 or 97 euros) in budget areas like Yaba or Surulere in Lagos or outer Abuja suburbs, up to 1,000,000+ naira per month ($700+ or 650+ euros) in prime neighborhoods like Ikoyi, Victoria Island, or Maitama where expat-standard buildings command premium rents.
For a 2-bedroom in Nigeria, you can expect to pay from around 300,000 naira per month ($210 or 195 euros) in value neighborhoods like Gbagada, Ikeja, or Gwarinpa, up to 2,500,000+ naira per month ($1,750+ or 1,620+ euros) in top-tier buildings in Ikoyi or Maitama where amenities include backup power, security, and modern finishes.
The neighborhoods offering the best value for retirees seeking affordable rent in Nigeria include Ikeja GRA, Gbagada, and parts of Lekki in Lagos, and Gwarinpa, Jabi, and Wuse in Abuja, where you get reasonable security and infrastructure without paying the premium that Ikoyi, Victoria Island, or Maitama command.
By the way, we've written a blog article detailing what are the latest rent data in Nigeria.
What do utilities cost monthly in Nigeria in 2026?
As of early 2026, the total monthly utilities cost for a typical retiree apartment in Nigeria ranges from 150,000 to 400,000 naira ($105 to $280 or 97 to 260 euros), with the wide range reflecting massive differences in power reliability between neighborhoods and buildings.
The typical monthly breakdown in Nigeria includes electricity bills of 30,000 to 80,000 naira ($21 to $56 or 19 to 52 euros) for grid power, water at 10,000 to 30,000 naira ($7 to $21 or 6 to 19 euros), and the big variable: backup power costs including generator fuel, diesel, or inverter maintenance ranging from 80,000 to 250,000 naira ($56 to $175 or 52 to 162 euros) depending on how much you run air conditioning and how unreliable your grid supply is.
Internet and mobile phone service in Nigeria typically costs 30,000 to 60,000 naira per month ($21 to $42 or 19 to 39 euros) for a good home internet connection plus a mobile data plan, with fiber options in parts of Lagos and Abuja offering better reliability for those working remotely or streaming content regularly.
What's the monthly food and transportation budget for one person in Nigeria in 2026?
As of early 2026, the combined monthly food and transportation budget for one person in Nigeria ranges from 350,000 to 800,000 naira ($245 to $560 or 225 to 520 euros), with food typically accounting for 60 to 70% of this total and transportation making up the rest.
The realistic monthly grocery budget for a single retiree cooking at home in Nigeria ranges from 200,000 to 500,000 naira ($140 to $350 or 130 to 325 euros), with the lower end assuming you shop primarily at local markets for Nigerian staples and the higher end reflecting regular purchases of imported items from supermarkets like Shoprite or international stores in Lagos and Abuja.
Dining out regularly in Nigeria adds significant cost compared to cooking at home: a simple local meal costs 2,000 to 5,000 naira ($1.40 to $3.50 or 1.30 to 3.25 euros), while a mid-range restaurant meal runs 8,000 to 15,000 naira ($5.60 to $10.50 or 5.20 to 9.70 euros), meaning that eating out several times per week can add 150,000 to 300,000 naira ($105 to $210 or 97 to 195 euros) to your monthly food budget.
Monthly transportation cost in Nigeria varies dramatically: relying on ride-hailing apps like Bolt or Uber costs 100,000 to 300,000 naira ($70 to $210 or 65 to 195 euros) for regular use, while public transport (buses and tricycles) costs only 30,000 to 60,000 naira ($21 to $42 or 19 to 39 euros), though many foreigners avoid public transport for comfort and safety reasons, and owning a car adds fuel, insurance, and maintenance costs of 150,000 to 400,000 naira ($105 to $280 or 97 to 260 euros) per month.
Get fresh and reliable information about the market in Nigeria
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Can I retire in Nigeria if I want to buy property in 2026?
What's the average home price in Nigeria in 2026?
As of early 2026, the average home price in Nigeria varies enormously by location, but in popular expat areas like Lekki in Lagos, houses average around 255,000,000 to 350,000,000 naira ($178,000 to $245,000 USD or 165,000 to 227,000 euros) based on listing data, while ultra-prime areas like Maitama in Abuja can reach several billion naira for standalone houses.
The realistic price range for homes in Nigeria spans from about 30,000,000 to 80,000,000 naira ($21,000 to $56,000 or 19,500 to 52,000 euros) for modest properties in value neighborhoods or secondary cities like Ibadan and Enugu, up to 500,000,000+ naira ($350,000+ or 325,000+ euros) for premium properties in Ikoyi, Victoria Island, or Maitama where land values and building quality command top prices.
For retirees in Nigeria, newer apartments in well-managed estates in areas like Lekki, Ikeja GRA, or Gwarinpa often offer the best value because they include security, backup power infrastructure, and service charge arrangements that reduce the headaches of standalone house ownership, and they typically cost less than detached houses while offering comparable living quality for people who do not need extensive land.
Please note that you will find all the information you need in our pack about properties in Nigeria.
What down payment do foreigners usually need in Nigeria in 2026?
As of early 2026, foreigners buying property in Nigeria should plan for a down payment of 50% to 100% of the purchase price, which means for a typical Lekki house at 300,000,000 naira, you need 150,000,000 to 300,000,000 naira ($105,000 to $210,000 USD or 97,000 to 195,000 euros) available in cash or equivalent funds.
Foreigners in Nigeria generally face higher effective down payment requirements than locals because mortgage availability for non-residents is extremely limited, most sellers prefer cash transactions for faster completion, and local banks rarely extend mortgage terms to buyers without Nigerian income history, meaning that in practice, most foreign buyers purchase outright rather than financing through Nigerian institutions.
We have a document entirely dedicated to the mortgage process in our pack about properties in Nigeria.
You can also read our latest update about mortgage and interest rates in Nigeria.
What's the all-in monthly cost to own in Nigeria in 2026?
As of early 2026, the all-in monthly cost to own a typical expat-standard property in Nigeria ranges from 300,000 to 800,000 naira ($210 to $560 USD or 195 to 520 euros), excluding any mortgage payments, and covering the recurring costs that come with property ownership in Nigerian cities.
Specific costs included in the all-in monthly ownership figure in Nigeria are power and water reliability spending (150,000 to 400,000 naira or $105 to $280 or 97 to 260 euros), estate or building service charges (100,000 to 600,000 naira or $70 to $420 or 65 to 390 euros), repairs and maintenance reserves (50,000 to 200,000 naira or $35 to $140 or 32 to 130 euros), and property-related government charges.
Property taxes in Nigeria are relatively low compared to Western countries, but Lagos State Land Use Charge and similar levies in other states typically cost 100,000 to 500,000 naira per year ($70 to $350 or 65 to 325 euros annually, or roughly 10,000 to 40,000 naira monthly), while HOA or estate management fees in serviced estates can range from 50,000 to 500,000 naira per month ($35 to $350 or 32 to 325 euros) depending on the level of amenities and security provided.
The hidden ownership cost that catches new buyers off guard in Nigeria is the expense and complexity of title perfection, including obtaining Governor's consent under the Land Use Act, which can cost millions of naira in legal fees and take months or even years to complete, and without it, your property rights remain legally incomplete.
By the way, we also have a blog article detailing the property taxes and fees in Nigeria.
Is buying cheaper than renting in Nigeria in 2026?
As of early 2026, comparing monthly buying costs (ownership expenses without mortgage) to renting costs for a similar property in Nigeria shows that renting typically costs 400,000 to 1,500,000 naira per month ($280 to $1,050 or 260 to 970 euros) in expat areas, while owning outright costs 300,000 to 800,000 naira per month ($210 to $560 or 195 to 520 euros) in recurring expenses, making ownership cheaper month-to-month but only after the massive upfront capital outlay.
The typical break-even point where buying becomes financially better than renting in Nigeria is around 7 to 10 years, assuming you purchase a property outright with cash, maintain it properly, and the property holds its value, though this calculation is complicated by Nigeria's currency volatility and the legal complexities of property ownership.
Key factors that make buying more or less attractive for retirees in Nigeria include the quality of your legal due diligence (a clean, perfected title is essential), the reliability of the estate or neighborhood (since some areas have better infrastructure and security), and your time horizon, since retirees planning to stay less than 5 years often find renting simpler and lower-risk given the transaction friction, title perfection costs, and potential resale challenges in the Nigerian property market.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Nigeria versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What visas, taxes, and healthcare costs should I plan for in Nigeria in 2026?
What retirement visa options exist in Nigeria in 2026?
As of early 2026, Nigeria does not offer a specific retirement visa, so foreign retirees typically use business visas, Subject to Regularization (STR) visas, or residence permits linked to investment or employment sponsorship, with initial visa costs ranging from 50,000 to 200,000 naira ($35 to $140 USD or 32 to 130 euros) plus CERPAC residence card fees of around 200,000 to 400,000 naira ($140 to $280 or 130 to 260 euros).
Financial requirements for long-stay permission in Nigeria are not as clearly defined as in countries with formal retirement visas, but immigration authorities generally expect evidence of financial means, which in practice means showing bank statements, pension income, or investment funds, though specific thresholds are not published and often depend on individual case assessment.
Annual visa renewal costs in Nigeria typically range from 200,000 to 500,000 naira ($140 to $350 USD or 130 to 325 euros) when you factor in CERPAC card renewals, processing fees, and often the assistance of immigration agents or lawyers who help navigate the bureaucracy, with the process requiring visits to immigration offices and sometimes extended waiting periods.
The most common visa mistake foreign retirees make in Nigeria is assuming they can stay long-term on tourist or short-stay visas: Nigeria immigration authorities do check status, and overstaying or working without proper permission creates legal problems, so it is essential to establish a proper residence pathway early rather than trying to extend tourist status indefinitely.
Do I pay tax on foreign income in Nigeria in 2026?
As of early 2026, foreign retirees who become tax resident in Nigeria (generally by spending more than 183 days per year in the country) are subject to Nigerian tax on their worldwide income, which means your pension, investment returns, and other foreign income could be taxable under the consolidated Nigeria Tax Act framework.
Types of foreign income that may be taxed in Nigeria include pension payments, dividends, interest, rental income from overseas properties, and capital gains, though the practical enforcement on foreign-sourced income for individual retirees has historically been limited, and specific exemptions or reduced rates may apply depending on the income type and source country.
Nigeria has tax treaties with several countries including the United Kingdom, Canada, France, Netherlands, and others, which can affect how foreign income is taxed by preventing double taxation and sometimes reducing withholding rates, so retirees should check whether their home country has a treaty with Nigeria that affects their specific income sources.
The single most important tax rule foreign retirees should understand before moving to Nigeria is the residence test: if you spend more than half the year in Nigeria, you likely become tax resident and your worldwide income becomes subject to Nigerian tax, so consulting a qualified tax advisor before establishing residence is essential to understand your obligations and plan accordingly.
What health insurance do retirees need in Nigeria in 2026?
As of early 2026, retirees in Nigeria typically need private health insurance costing 70,000 to 500,000 naira per month ($49 to $350 USD or 45 to 325 euros) depending on age, coverage level, and whether you choose a local Nigerian plan or an international policy that covers evacuation and treatment abroad.
Foreigners can technically access public healthcare in Nigeria by paying fees, but quality, equipment, and wait times vary enormously between facilities, so most foreign retirees rely primarily on private hospitals and clinics in Lagos, Abuja, or Port Harcourt, and keep public facilities as a backup for emergencies rather than routine care.
The realistic total annual healthcare budget for a retiree in Nigeria, including insurance premiums, out-of-pocket costs for consultations, medications, and tests, and a reserve for unexpected medical needs, ranges from 1,500,000 to 6,000,000 naira ($1,050 to $4,200 USD or 975 to 3,900 euros), with the higher end appropriate for older retirees or those with chronic conditions who may need to fly out for specialized procedures.
Buying real estate in Nigeria can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Nigeria, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Central Bank of Nigeria (CBN) | Nigeria's central bank publishes official exchange rates daily. | We used CBN rates to convert all naira figures to USD and EUR. We also referenced CBN data to explain currency volatility risks for retirees. |
| Nigeria Property Centre | One of Nigeria's largest property listing aggregators with transparent pricing. | We pulled rental and sale price data for Lagos and Abuja neighborhoods. We cross-referenced their market trend reports for Lekki, Ikoyi, and Maitama pricing. |
| Numbeo | Transparent, user-contributed cost-of-living database updated regularly. | We used Numbeo for category-level budget breakdowns including food, transport, and utilities. We validated our "comfortable" and "luxury" budget thresholds against their data. |
| Nigeria Immigration Service | The official government authority for visa categories and requirements. | We referenced NIS for accurate visa pathway information. We used their published categories to explain realistic long-stay options for retirees. |
| World Bank | Top-tier international institution with documented methodology. | We used World Bank data on out-of-pocket health expenditure to explain healthcare budgeting. We also referenced their food price datasets for grocery cost validation. |
| National Health Insurance Authority (NHIA) | Nigeria's official health insurance regulatory body. | We used NHIA information to explain the public health insurance framework. We referenced their guidance to set realistic private insurance budget expectations. |
| NERC (Electricity Regulator) | National regulator publishing official electricity tariff orders. | We used NERC tariff documents to estimate electricity costs. We explained why backup power remains a major expense in Nigerian household budgets. |
| PwC Tax Summaries | Major global tax firm with regularly maintained country guides. | We used PwC to translate Nigerian tax rules into plain English. We cross-checked their summaries against primary law documents for accuracy. |
| Federal Inland Revenue Service (FIRS) | Nigeria's federal tax authority and primary source for tax law. | We referenced FIRS circulars on non-resident taxation. We used their publications to explain residence tests and worldwide income rules. |
| Trading Economics | Widely cited economic data platform tracking real-time indicators. | We used Trading Economics for current exchange rate and inflation data. We referenced their historical charts to explain currency volatility trends. |
We made this infographic to show you how property prices in Nigeria compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
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