Lagos, Nigeria
-5% vs Lagos avgMagodo is a moderately-priced area within Lagos, with a cost of living index of 25.9 — that is -5% compared to the Lagos average. It sits around the middle of the pack at #7 out of 20 neighborhoods. Estimated rent for a one-bedroom apartment here is around ₦901,355/month, compared to a range of ₦616,717 in Agege to ₦1,375,753 in Banana Island.
For a typical resident of Magodo, housing takes up roughly 43% of monthly expenses. Food and groceries account for about 15%, while transportation costs around 8%. To live comfortably here — meaning rent stays at or below 30% of gross income — you would need an annual salary of approximately ₦36,054,217 before tax.
Salaries in Magodo reflect the local cost of living. Based on the neighborhood COLI of 25.9:
After tax and deductions of 31.3% in Nigeria, take-home pay for someone earning ₦36,054,217 would be roughly ₦24,769,247/year. Use the salary converter to calculate an exact figure for your situation, including expat-specific tax adjustments.
Estimated annual deductions on a ₦30,717,244 salary in Magodo, Lagos (local employee).
Rates shown are for a local employee. Use the salary converter for expat calculations.
What a $75,000 USD salary in Magodo would need to be elsewhere:
| City | Currency | Equivalent |
|---|---|---|
| New York | USD | $19,425 |
| London | GBP | £16,717 |
| Dubai | AED | AED 97,199 |
| Neighborhood | COLI | Multiplier | vs Avg |
|---|---|---|---|
| Banana Island | 39.6 | 1.45x | +45% |
| Victoria Island | 36.9 | 1.35x | +35% |
| Ikoyi | 35.5 | 1.30x | +30% |
| Lekki Phase 1 | 33.3 | 1.22x | +22% |
| Chevron Drive | 30.6 | 1.12x | +12% |
See exactly what you need to earn in Magodo, Lagos to maintain your lifestyle.
Open Salary ConverterNeighborhoods with a similar cost of living to Magodo:
Magodo is one of the more affordable neighborhoods in Lagos. It costs about -5% less than the city average, ranking #7 out of 20 neighborhoods.
The cost of living in Magodo is below the Lagos average. With a multiplier of 0.95x, everyday expenses including rent, food, and transportation are -5% compared to the city baseline.