The cost of living remains a major concern for households across Nigeria, with petrol, food, housing and transportation accounting for a significant share of monthly income.

Although Nigeria’s inflation rate has moderated from previous highs, the prices of many essential goods and services remain considerably higher than they were in previous years.

The situation also differs from city to city, depending on location, income levels, housing demand, transportation costs and access to markets.

Here is a look at some current prices reported in major Nigerian cities.

Petrol prices remain a major factor influencing household and business expenses because fuel costs affect transportation, electricity generation and the movement of goods.

Recent market checks showed petrol selling at about ₦1,350 per litre in some parts of Lagos, while prices in Abuja were approaching ₦1,500 per litre at some filling stations.

In Ibadan, prices around ₦1,370 per litre were reported in September.

Prices vary between filling stations and locations, depending on supply and transportation costs.

For a motorist buying 40 litres, petrol priced at ₦1,350 per litre would cost approximately ₦54,000. At ₦1,450 per litre, the same quantity would cost ₦58,000.

For commercial transport operators and businesses that rely on generators, the impact can be significantly higher.

Food continues to account for a substantial portion of household expenditure.

A September market survey found that a 50kg bag of rice in Lagos sold for around ₦70,000, while a crate of eggs cost approximately ₦6,000.

A bag of garri was reported at about ₦38,000, while chicken sold for around ₦6,000. A paint bucket of tomatoes was also reported at approximately ₦12,000.

In Abuja, a bag of rice sold for about ₦58,000 to ₦60,000, while garri was around ₦26,000. A crate of eggs cost approximately ₦6,000 to ₦6,500, while a basket of tomatoes ranged between ₦15,000 and ₦20,000.

However, food prices vary according to location, season, quality and the market where the products are purchased.

The National Bureau of Statistics reported food inflation at 19.57 per cent in August 2026, showing that food prices were still increasing despite the moderation in overall inflation.

Housing costs vary considerably across Nigeria’s major cities and even between neighbourhoods within the same city.

In Lagos, recent residential market data showed annual one-bedroom rents ranging from less than ₦400,000 in some areas to several million naira in more expensive neighbourhoods.

For example, reported annual rents for one-bedroom apartments ranged from about ₦358,000 in Badagry and ₦555,000 in Ikorodu to approximately ₦3.2 million in Ikeja.

In premium locations such as Eko Atlantic City, annual rent for a one-bedroom apartment was reported to be as high as ₦20.9 million.

Two-bedroom apartments also showed significant variations, with reported annual rents of about ₦815,000 in Ikorodu, ₦1.5 million in Festac, ₦3 million in Yaba, ₦5.2 million in Ikeja and ₦8.5 million in Lekki Phase I.

Abuja has also experienced substantial increases in rents.

A 2026 survey reported that a two-bedroom apartment in Lokogoma that previously rented for around ₦1.2 million annually was being offered for as much as ₦2.5 million, excluding additional charges.

Properties in areas such as Jahi and Wuye were reported to attract rents above ₦4 million annually.

Tenants may also have to pay agency, legal, caution and service charges, meaning the initial cost of securing accommodation can be significantly higher than the advertised rent.

Households also face rising energy costs.

Liquefied petroleum gas, commonly known as cooking gas, was reported at around ₦1,600 per kilogramme in parts of Lagos in September.

At that price, refilling a 12.5kg cylinder would cost approximately ₦20,000.

For households that rely on generators because of unreliable electricity, the combined cost of petrol, generator maintenance and other energy expenses adds further pressure.

There is no single amount that can accurately represent the cost of living for every Nigerian.

A single worker renting a modest apartment in Ibadan will have very different expenses from a family living in Lagos or Abuja.

Income also varies widely, as do transportation needs, school fees, healthcare expenses and housing costs.

However, the current figures illustrate the financial pressure facing many households.

A family paying millions of naira annually for rent, while also spending heavily on food, transportation, electricity and healthcare, can quickly exhaust its income.

For low-income workers, the challenge is particularly acute because essential expenses consume a larger proportion of their earnings.

One important distinction is that a decline in the inflation rate does not necessarily mean that prices are falling.

Rather, it means that prices are increasing at a slower rate.

Nigeria’s headline inflation rate was reported at 15.39 per cent in August 2026, while food inflation remained higher.

Therefore, even if inflation continues to moderate, households may still face high prices for food, accommodation, transport and other necessities.

The figures from Lagos, Abuja and other major cities highlight the complex nature of Nigeria’s cost-of-living crisis.

Petrol prices influence transportation and logistics. Transportation costs affect the movement of food and other goods, while housing costs can consume a large portion of household income.

At the same time, unreliable electricity can force businesses and households to spend more on alternative sources of power.

For the government, the challenge is therefore not simply to reduce inflation but to improve household purchasing power by lowering the cost of production, transportation, housing and essential services.

For Nigerians, the reality in 2026 is that the cost of living depends heavily on where they live, what they earn and how much they spend on the basic necessities of everyday life.