To reduce your cost of living in Lagos you need to stay in affordable housing, use public transport, shop at local markets, cook at home and avoid expensive fun activities.
Let’s get to these in details.
If you are in Lagos or plan to visit, one thing you should be aware of is high cost of living in Lagos. you pay literally for everything, from housing, food, transportation, entertainment, utility and fun activities.
These cost are inflated by Lagos huge population, everyone is out there to make money, stuffs you get in other cities of the country for free, in Lagos you pay for it through the nose. And automatically this sets everyone up to compete for success. who ever gave the slogan of Lagos as the ” center Of excellence” knew the game.
But not withstanding, Lagosians have to live in excellence at the same time have good savings to accomplish other success aside living in Lagos.
With that in mind, I put together this cut and pieces to help you manage your cost of living in Lagos so at the end you can have enough to foot your bills and have a set aside.
Keep reading let me show you how.
Tips To Manage Your
Cost Of Living In Lagos
Managing the living cost in Lagos could be challenging but attainable with the right strategies. These tips will help you succeed and manage your money in the state.
1. Find Affordable Housing
Housing costs can be a huge burden in Lagos, but with smart choices, you can make living more affordable. Start by looking at neighborhoods that offer lower rent but are still safe and accessible. Areas outside the busy city center, such as parts of Yaba, Surulere, and Ojodu, often have more affordable options. If you work remotely or have flexible hours, staying further from central Lagos can save you a lot on rent.
Another way to cut costs is by finding a flatmate to share an apartment with, which can make renting larger spaces cheaper. This approach not only reduces rent but also splits utility bills, like electricity and internet, making monthly expenses more manageable.
When searching for a place, check out housing listings online, join local groups, or ask friends and family who might know about affordable rentals. Be flexible with your housing requirements. for instance, opting for a modest apartment with essential amenities can keep costs low without sacrificing comfort. By focusing on these strategies, you can enjoy a comfortable lifestyle in Lagos without overspending on housing.
2. Use Public Transport
Choosing public transportation in Lagos can save you a lot of money compared to using a private car daily. With various transportation options in Lagos like BRT buses, shared taxis, keke (tricycles), and okada (motorbikes), you have affordable ways to get around the city without spending heavily on fuel, parking, or maintenance costs that come with owning a car.
BRT buses are popular because they run on dedicated lanes, which means they can avoid some of the heavy Lagos traffic and get passengers to their destinations faster. Fares for BRT are also generally lower than driving, making them a budget-friendly option, especially for long distances.
Shared taxis are also available, and they’re easy to find in most parts of Lagos. They offer a convenient way to travel and cost less than a private cab. For shorter trips or routes that don’t have BRT or taxi coverage, kekes and okadas can help. Although they’re smaller, they can easily move through tight spaces in traffic, getting you where you need to be quicker.
In a busy city like Lagos, using public transportation can help you save money and reduce the stress of daily driving.
3. Shop At Local Markets
Shopping for fresh produce, grains, and household items at local markets can save you a lot of money compared to shopping in supermarkets. Markets generally have more affordable prices, and they also give you the chance to negotiate and bargain. This means you can often get items for even lower prices than marked. Another benefit of shopping at markets is the option to buy in bulk, which can save you more over time, especially for things you use daily or regularly.
In a place like Mile 12 Market, which is popular for food and household goods, you’ll find a wide range of items at reasonable prices. While the market may be busier and less organized than a supermarket, it offers good deals if you’re willing to shop around. Taking a little extra time to look at different stalls can lead to better finds and help you stay within your budget.
So, choosing to shop at markets is a practical way to get what you need without overspending. By being open to bargaining and buying larger quantities, you can enjoy more savings and a reduced cost on items you buy in Lagos
4. Cook Your Meal
Eating out regularly in Lagos can quickly become very expensive. Cooking at home is a great way to save money, and it’s usually a healthier option too. Planning meals ahead can make home cooking easier and even more affordable. Start by deciding what you’ll cook for the week, and then make a shopping list. Buying ingredients in bulk, especially for things you use often, can help cut down costs. Look for places that offer discounts on larger quantities of food.
A good way to save even more time and money is to cook in batches. For example, you can make a big pot of soup, stew, or rice, then store portions in the freezer for future meals. When you’re in a hurry or don’t feel like cooking, you can simply take out a portion, heat it up, and have a meal ready. This not only saves time but also prevents you from ordering food when you’re tired.
Cooking your meal at home can make a big difference to your budget on feeding in Lagos.
5. Avoid Expensive Fun Activities
Entertainment in Lagos can be quite expensive, especially if you prefer high-end bars and clubs. However, there are plenty of affordable activities you can explore. For a fun day out, consider attending free public events that happen regularly around the city. These events can range from music festivals to cultural celebrations, providing a great way to enjoy the local scene without spending a lot.
Another option is to check out local concerts, where you can enjoy live music from emerging artists. Many of these events are low-cost or free, giving you a chance to experience the vibrant music culture in Lagos.
If you love the beach, consider visiting less commercialized beaches that often charge little to no entry fee. These beaches can provide a relaxing escape from the hustle and bustle of city life, perfect for a day of sun and sand.
Additionally, some amusement parks in Lagos offer free entry on specific days, making them ideal for picnics or leisurely strolls. Museums are also a great choice, as they typically have reasonable entry fees, allowing you to explore art and history without breaking the bank. With a bit of planning, you can enjoy all that Lagos has to offer without overspending.
In Summary
Living affordably in Lagos requires a balanced approach and some smart habits. By choosing cost-effective housing, using public transport, shopping at local markets, cooking at home, and opting for budget-friendly entertainment, you can significantly reduce your expenses without sacrificing comfort or enjoyment.
Lagos is a city where costs can escalate quickly, but with these strategies, you’ll be able to navigate life in the city more sustainably. Not only do these practices help you save money, but they also help you keeping a close eye on your spending enduring you have enough left over for future plans or other ambitions.
