Cost of Living in Oyo, Nigeria (2026)
Overview — Cost of Living in Oyo
Ibadan, the capital of Oyo State, is one of Nigeria's most affordable large cities. Land and housing are relatively cheap compared to Lagos despite being just 2 hours away. Ibadan is increasingly attractive to remote workers and Lagos returnees seeking lower costs. The city's large student population also keeps food and service costs competitive.
Full Cost Breakdown — Oyo (August 11, 2026)
All prices below are current estimates from July 26, 2026 surveys. Prices vary by neighbourhood, property age, and individual lifestyle.
| Item | Min Price | Max Price | Per | Note |
|---|---|---|---|---|
| Self-contain (Ring Road, Mokola) | ₦80,000 | ₦180,000 | year | Annual rent |
| 1-bedroom flat (Bodija, Agodi) | ₦150,000 | ₦400,000 | year | Annual rent |
| 2-bedroom flat (Jericho, Bodija) | ₦300,000 | ₦800,000 | year | Annual rent |
| Item | Min Price | Max Price | Per | Note |
|---|---|---|---|---|
| Plate of food at buka | ₦500 | ₦1,200 | meal | |
| Monthly food basket (single) | ₦25,000 | ₦60,000 | month | Bodija market |
| Item | Min Price | Max Price | Per | Note |
|---|---|---|---|---|
| Bus/transport (single trip) | ₦70 | ₦200 | trip | |
| Monthly transport estimate | ₦5,000 | ₦15,000 | month |
| Item | Min Price | Max Price | Per | Note |
|---|---|---|---|---|
| IBEDC electricity (monthly) | ₦6,000 | ₦18,000 | month | Ibadan Electricity Distribution |
How Oyo Compares to Other Nigerian States
See how the cost of living in Oyo compares to other major Nigerian states.
| State | Single/month (min) | Single/month (max) | Cost Index | Details |
|---|---|---|---|---|
| 📍 Oyo State (current) | ₦55,000 | ₦160,000 | 4/10 | — |
| Lagos | ₦120,000 | ₦350,000 | 10/10 | View → |
| FCT Abuja | ₦130,000 | ₦380,000 | 9/10 | View → |
| Rivers | ₦90,000 | ₦250,000 | 8/10 | View → |
| Delta | ₦70,000 | ₦200,000 | 6/10 | View → |
| Anambra | ₦60,000 | ₦175,000 | 5/10 | View → |
| Edo | ₦58,000 | ₦165,000 | 4/10 | View → |
| Enugu | ₦55,000 | ₦155,000 | 4/10 | View → |
| Kaduna | ₦48,000 | ₦140,000 | 3/10 | View → |
| Kano | ₦45,000 | ₦130,000 | 3/10 | View → |
Frequently Asked Questions — Cost of Living in Oyo
How much does it cost to live in Oyo?
A single person can live in Oyo on a minimum of ₦55,000 to ₦160,000 per month (2026). A family of four needs approximately ₦130,000 to ₦360,000 per month. Costs vary significantly by neighbourhood and lifestyle.
What is the average rent in Oyo?
Rent in Oyo ranges from ₦80,000 – ₦180,000 per year for self-contain (ring road, mokola) to ₦300,000 – ₦800,000 for luxury properties.
Is Oyo expensive to live in?
Oyo is rated 4/10 on our cost of living index (Below Average). Ibadan, the capital of Oyo State, is one of Nigeria's most affordable large cities. Land and housing are relatively cheap compared to Lagos despite being just 2 hours away. Ibadan is increasingly attractive to remote workers and Lagos returnees seeking lower costs. The city's large student population also keeps food and service costs competitive.
What is the monthly budget for a family in Oyo?
A family of four in Oyo needs approximately ₦130,000 to ₦360,000 per month in 2026, covering rent, food, transport, utilities, and education.
How accurate are these cost of living figures?
All figures are based on market surveys across Oyo conducted by our team. They represent typical market ranges, not fixed prices. Individual costs will vary based on your neighbourhood, lifestyle preferences, family size, and spending habits.
Rent in particular can vary 5–10x between the cheapest and most expensive areas. We recommend using these figures as a planning guide rather than exact budgets.
What is the minimum wage in Nigeria and is it enough to live in Oyo?
Nigeria's minimum wage was increased to ₦70,000/month in 2024. This is significantly below the minimum cost of living in Oyo of ₦55,000/month, meaning minimum wage earners typically depend on additional income sources, family support, or extremely frugal living arrangements such as shared accommodation.
Cost of living data for Oyo State is based on market surveys and publicly available information. All figures are estimates — actual costs depend on individual lifestyle and location. This information is provided for planning purposes only. CurrentAffairs.com.ng is an independent platform. Last reviewed: August 11, 2026.