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Life is more expensive for foreigners in Lagos than Abuja

The global cost of living survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.

Central Business District of Lagos, which house the Head Office of major financial institutions in Nigeria

The report ranked the commercial city 29th while Abuja occurred 59th position in the 2017 global cost of living survey.

The survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. According to the 23 edition of the report carried out by Mercer, cities in Africa, Asia and Europe dominated the 2017 list of most expensive locations for expatriates to live and work in.

In the 2016 edition of the report, Lagos ranked 13th while Abuja took the 20 position based on the cost criteria considered by the study.

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Luanda, the capital city of Angola ranked the most expensive city in the world beating Hong Kong to the second position.

Other African cities with high cost of living include the Victoria, Seychelles in the 14th position, N’djamena, Chad in the 16th position and Kinshasa, Democratic Republic of Congo ranked 18th.

The survey attributed the high prices of goods and security as factors determining cost of living for expatriate employees in these cities.

Among least expensive cities in Africa include Gaborone, Botswana in the 196th position; Cape Town, South Africa ranking 199th and Blantyre, Malawi ranking 205th.

Factors also considered by Mercer in the study include instability of housing markets and inflation for goods and services and overall cost of doing business in today’s global environment.

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