Historical Prices in Lagos

Currency:

Restaurants

Year
Meal, Inexpensive Restaurant
Meal for 2 People,
Mid-range Restaurant, Three-course
McMeal at McDonalds
(or Equivalent Combo Meal)
2023 4.02 51.36 9.03
2022 4.40 52.72 7.24
2021 3.52 34.31 7.15
2020 2.35 41.98 5.20
2019 2.27 37.70 6.88
2018 2.58 36.14 5.56
2017 2.44 29.42 7.21
2016 2.59 39.82 8.02
2015 4.01 48.15 6.28
2014 7.15 63.97 11.88
2013 8.12 44.27 9.46
2012 18.71 64.70 11.68
Year
Domestic Beer
(0.5 liter draught)
Imported Beer
(0.33 liter bottle)
Coke/Pepsi
(0.33 liter bottle)
Water
(0.33 liter bottle)
Cappuccino
(regular)
2023 1.02 2.08 0.46 0.31 3.34
2022 1.39 2.07 0.45 0.29 3.72
2021 1.09 1.40 0.37 0.25 2.98
2020 0.79 1.07 0.34 0.21 2.10
2019 1.14 1.54 0.34 0.20 3.31
2018 1.33 1.60 0.42 0.26 -
2017 1.07 1.69 0.42 0.23 3.39
2016 1.34 2.20 0.49 0.31 3.77
2015 1.95 2.30 0.58 0.41 3.52
2014 1.51 3.30 0.69 0.51 4.20
2013 1.83 3.32 0.67 0.54 2.98
2012 2.32 4.38 1.07 0.98 5.03

Markets

Year
Milk
(regular),
(1 liter)
Loaf of Fresh White Bread
(500g)
Eggs
(regular)
(12)
Water
(1.5 liter bottle)
Domestic Beer
(0.5 liter bottle)
Imported Beer
(0.33 liter bottle)
2023 3.40 1.93 2.69 0.60 0.95 1.23
2022 4.34 1.78 2.37 0.60 1.23 1.87
2021 3.78 1.22 1.88 0.61 0.91 1.48
2020 2.95 1.09 1.39 0.39 0.79 1.21
2019 2.93 1.08 1.56 0.60 - -
2018 - 0.97 1.75 0.70 0.97 -
2017 2.70 1.06 2.07 0.52 - -
2016 3.64 1.53 2.49 0.71 1.35 2.22
2015 2.32 1.32 2.64 0.75 1.24 1.90
2014 2.71 1.79 2.25 1.18 1.84 3.14
2013 2.48 1.57 2.44 0.77 1.48 1.83
2012 2.91 2.19 3.66 1.16 1.67 5.73
Year
Apples
(1kg)
Oranges
(1kg)
Potato
(1kg)
Lettuce
(1 head)
Rice
(white),
(1kg)
Tomato
(1kg)
Banana
(1kg)
Onion
(1kg)
2023 5.20 3.00 3.13 - 2.38 3.52 3.08 2.69
2022 3.92 2.68 4.08 1.75 3.21 3.32 2.82 1.77
2021 2.98 1.61 2.60 1.24 3.02 2.60 1.95 2.09
2020 2.99 1.37 1.92 1.02 2.28 2.83 1.65 1.50
2019 3.30 - 1.63 - 2.59 1.71 - 1.04
2018 - - - - 4.17 - - -
2017 2.82 - - - 4.05 - - -
2016 3.89 2.46 2.15 1.59 3.14 2.91 2.60 1.88
2015 - - - - - - - -
2014 2.70 - - - 4.01 3.97 - -
2013 4.95 2.12 2.88 1.01 2.74 2.44 - -
2012 7.06 2.55 2.90 2.51 6.89 - - -
Year
Local Cheese
(1kg)
Bottle of Wine
(Mid-Range)
Cigarettes 20 Pack
(Marlboro)
Chicken Fillets
(1kg)
Beef Round
(1kg)
(or Equivalent Back Leg Red Meat)
2023 - 8.43 1.44 6.02 5.89
2022 3.81 8.63 1.88 6.83 7.90
2021 5.93 5.09 0.93 4.84 4.45
2020 5.47 5.19 1.03 4.57 4.81
2019 - 8.06 - 4.44 -
2018 - 8.13 1.98 3.96 4.73
2017 - 8.35 0.87 4.96 4.85
2016 17.59 6.97 1.07 6.45 7.29
2015 - 10.89 - 7.87 -
2014 - - - - -
2013 15.90 8.56 1.34 7.06 -
2012 28.00 17.48 2.82 15.48 -

Rent Per Month

Year
Apartment
(1 bedroom)
in City Centre
Apartment
(1 bedroom)
Outside of Centre
Apartment
(3 bedrooms)
in City Centre
Apartment
(3 bedrooms)
Outside of Centre
2023 1419.77 900.66 3303.66 2087.60
2022 1036.46 628.00 2014.83 1565.70
2021 1110.98 507.97 2889.89 1120.02
2020 898.14 690.29 2800.14 1782.56
2019 745.75 394.05 2319.83 1028.46
2018 875.39 468.79 2083.29 1239.10
2017 777.41 378.10 1007.10 544.63
2016 918.97 295.40 2484.34 1168.46
2015 1179.06 113.04 1517.21 904.30
2014 1229.56 525.34 4306.45 1060.58
2013 510.27 124.02 1700.61 517.46
2012 1093.67 428.69 1975.04 1042.18

Buy Apartment Price

Year
Price per Square Meter
to Buy Apartment
in City Centre
Price per Square Meter
to Buy Apartment
Outside of Centre
2023 - -
2022 - -
2021 - -
2020 - -
2019 1040.51 -
2018 - -
2017 - -
2016 - -
2015 - -
2014 - -
2013 2794.71 -
2012 3000.00 1500.00

Salaries And Financing

Year
Average Monthly Net Salary
(After Tax)
2023 243.30
2022 326.11
2021 246.69
2020 225.62
2019 262.57
2018 253.67
2017 274.58
2016 541.22
2015 703.80
2014 942.91
2013 708.41
2012 650.00

Transportation

Year
One-way Ticket
(Local Transport)
Gasoline
(1 liter)
2023 0.92 1.13
2022 1.13 0.42
2021 0.83 0.40
2020 0.60 0.37
2019 0.57 0.41
2018 0.60 0.40
2017 0.70 0.46
2016 0.76 0.72
2015 1.11 0.46
2014 - 0.60
2013 0.88 0.62
2012 1.00 0.67
Year
Monthly Pass
(Regular Price)
2023 -
2022 36.13
2021 26.97
2020 24.97
2019 33.64
2018 26.91
2017 -
2016 90.46
2015 -
2014 -
2013 -
2012 100.00

Salaries And Financing

Year
Mortgage Interest Rate in Percentages
(%), Yearly, for 20 Years Fixed-Rate
2023 -
2022 -
2021 17.50
2020 -
2019 16.33
2018 17.25
2017 21.75
2016 20.71
2015 18.77
2014 20.00
2013 20.67
2012 17.50

Utilities (Monthly)

Year
Basic
(Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment
Internet
(60 Mbps or More, Unlimited Data, Cable/ADSL)
Mobile Phone Monthly Plan with Calls and 10GB+ Data
2023 48.45 45.74 11.82
2022 26.44 59.85 -
2021 28.26 57.33 -
2020 28.85 40.95 -
2019 29.03 47.34 -
2018 36.33 42.78 -
2017 - 67.42 -
2016 112.24 85.20 -
2015 323.25 72.01 -
2014 - - -
2013 140.99 79.12 -
2012 143.27 91.67 -

Sports And Leisure

Year
Fitness Club, Monthly Fee for 1 Adult
Tennis Court Rent
(1 Hour on Weekend)
Cinema, International Release, 1 Seat
2023 40.65 - 10.70
2022 44.92 - 8.27
2021 36.11 9.76 7.18
2020 46.82 11.63 6.12
2019 37.17 7.26 6.83
2018 36.05 11.49 5.62
2017 49.03 - 5.57
2016 93.18 31.83 8.17
2015 56.27 - 9.63
2014 - - 9.18
2013 120.28 - 9.62
2012 131.38 10.00 10.91

Clothing And Shoes

Year
1 Pair of Jeans
(Levis 501 Or Similar)
1 Summer Dress in a Chain Store
(Zara, H&M, ...)
1 Pair of Nike Running Shoes
(Mid-Range)
1 Pair of Men Leather Business Shoes
2023 33.60 - - -
2022 19.87 29.31 76.88 65.24
2021 19.90 24.77 65.95 68.50
2020 18.73 25.38 62.46 68.89
2019 20.52 24.50 54.34 63.10
2018 21.21 29.42 54.49 66.44
2017 36.04 41.34 83.22 79.51
2016 35.00 52.77 63.66 86.11
2015 33.61 31.40 56.94 57.77
2014 - - - -
2013 79.08 78.58 76.98 103.49
2012 69.50 105.00 112.50 250.00
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