Examples of States With Low Cost of Living in Nigeria 2023
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Is the cost of living in the state you are currently based high? Are you considering moving to another state with a low cost of living but finding it difficult to locate such a state?
This article makes it easier for you as it discusses five examples of states in Nigeria with a low cost of living in 2023. This article looks at the cost of purchasing land, house, and food, among other factors that will help us determine the states with a low cost of living.
States With Low Cost of Living in Nigeria
5. Imo state
Imo state is an example of a state in Nigeria with a low cost of living. Located in the southeast of Nigeria, Imo state has an estimated population of 4,978,758, with a GDP of $14.21 billion. It ranks number 13 on the list of 36 states in Nigeria.
The main economy of Imo state centres on commerce and agricultural production with palm oil production being the major. Imo state also houses more than 163 oil wells at 12 different locations. Grain mills, the palm produce industry, hydroelectric plants, ceramics, inland waterway transport etc, are some of the investment opportunities available in Imo state.
The capital city of Imo state is Owerri, commonly called the capital city of entertainment in Nigeria. The cost of living in Owerri is low; this can be seen the cost of renting a furnished three-bedroom flat which can go for N280,000 and N300,000.
It has highly affordable hotels like Edinburgh Hotel, New Castle Hotel, Disney Hotel and Resorts. It has good road networks and the power supply is good. The cost of purchasing food is very low and it has a beautiful and eye-catching scenery of a relaxation centre.
4. Kaduna state
Kaduna state is also one of the states in Nigeria with a low cost of living, it is located in the North-East of Nigeria with Kaduna as its capital. It is a major transportation Centre, rail junction, and trade hub for several surrounding agricultural areas. As a result of the availability of agricultural produce, affording foodstuff here in Kaduna is very cheap. You can easily rent 3 acres of land for as low as N30,000.
As at 2006, statics had shown that the population of Kaduna was 760,084, but currently, the population is estimated to be around a 1.3million due to recent urbanization through the introduction of refineries like the KRPC (Kaduna Refinery and Petroleum Company) which is one of the four major refineries in Nigeria.
The cost of transportation in Kaduna is relatively low. Automobile manufacturing is the primary part of Kaduna’s economy.
3. Anambra State
Anambra is the 8th out of the 36 states in Nigeria located in the South-East of Nigeria. Awka is the capital of Anambra state but has Onitsha as the largest urban area in Anambra. The population of Anambra State at the 2006 census was 4,177,821, but in 2019 the population was estimated to have increased to 10,800,000. Onitsha, one of the state’s cities, is habited by Igbo-speaking people.
The cost of transportation in Onitsha is low and affordable. The accommodation cost is also low as one can even get a flat for rent for as low as N180,000 in Onitsha. It is very easy to find a business to engage in, in Onitsha as it is a very industrious and busy city. Also, there are so many affordable hotels in Onitsha, including Kate Suites, Dolly Hills Hotels Limited, and Chimanda Hotel, among other hotels.
2. Oyo State
Oyo state is one of the most prosperous and cheapest states in Nigeria. It is located southwest of Nigeria and has a population of 5,580,894 as of the 2006 census. The capital of Oyo state is Ibadan, one of Nigeria’s best places to live comfortably.
The cost of living in Ibadan is low as the major occupation of the dwellers if agriculture. A piece of land in Ibadan can be purchased for as low N150, 000. You can rent a flat for as low as N250,000 compared to other states.
The hotels in Ibadan are also affordable, like; Check-Inn hotels, Vigold Hotel, Travel House Ibadan etc.
1. Akwa Ibom State
Akwa Ibom state is another state you can consider when contemplating relocating to a state with a low cost of living in 2023. Akwa Ibom has Uyo as its capital in the south-south region of Nigeria. The beautiful infrastructures like flyovers, lovely sit-outs, d hotels make Akwa Ibom a beautiful and peaceful place to live in. Ikot Ekpene, for example, is one of the cities in Akwa Ibom state with the lowest cost of living as hotel accommodation can be afforded for as low as N1500. A plot of land in Ikot Ekpene is very cheap.
Having considered the five examples of states with low cost of living, I am sure you will be able to easily make your choice.