As evidenced by the Consumer Price Index (CPI) data for April 2024, Nigeria’s economic landscape is undergoing significant changes, leading to notable fluctuations in the cost of living across its states.
In 2024, certain states have become particularly expensive due to various factors, including rising inflation rates and increased prices of essential goods and services.
According to the latest report from the National Bureau of Statistics (NBS), Nigeria’s inflation rate has reached a near-record high of 33.69% in April 2024. This sharp increase points out the severe economic pressures impacting the nation’s cost of living.
Below are the top 10 most expensive states to live in Nigeria, according to the latest all-item inflation rates:
Kogi
Kogi continues to lead as the most expensive state in Nigeria, recording the highest all-item inflation rate of 40.84% in April 2024, up from 39.95% in March 2024. The food inflation rate in Kogi is also notably high, rising slightly from 48.47% in March to 48.62% in April.
Bauchi
Bauchi has retained its position as the second most expensive state. The all-item inflation rate in Bauchi rose significantly from 38.34% in March 2024 to 39.91% in April 2024. Interestingly, the food inflation rate decreased slightly, moving from 34.38% in March to 33.85% in April.
Oyo
The all-item inflation rate in Oyo increased from 37.30% in March to 38.37% in April, highlighting a growing economic strain in the state.
Ondo
The all-item inflation rate in Ondo surged from 35.81% in March 2024 to 38.12% in April 2024.
Rivers
For the third consecutive time, Rivers maintained its fifth position on the list. The all-item inflation rate in Rivers saw a slight increase, rising from 37.20% in March 2024 to 37.64% in April 2024. However, the food inflation rate decreased marginally, from 45.08% in March to 44.50% in April.
Kwara
Kwara experienced a minor decrease in the all-item inflation rate, moving from 38.10% in March 2024 to 37.52% in April 2024. Despite this, food inflation remained high, increasing from 46.18% in March to 46.73% in April.
Jigawa
Jigawa witnessed a notable rise in the all-item inflation rate, climbing from 34.32% in March 2024 to 37.31% in April 2024. Additionally, food inflation surged from 37.77% in March to 42.48% in April.
Osun
Osun reported an all-item inflation rate of 37.17% in April 2024, marking a considerable increase from 35.44% in March 2024 and indicating significant rises in living costs.
Lagos
Lagos, Nigeria’s commercial hub, saw a noticeable surge in the all-item inflation rate. It rose from 34.13% in March 2024 to 37.15% in April 2024, marking a significant increase of 3.02 percentage points.
Abia
Abia State experienced a slight decrease in inflation. In April 2024, the all-item inflation rate in Abia stood at 36.50%, showing a marginal increase from the 36.09% recorded in March 2024.
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