I hear some Nairaanders call out some foreign based Nigerians for converting their foreign currencies to our legal tender, with the purpolar echo of purchasing power of those figures in the country the live vis-à-vis Nigeria. Is this assertion correct? Lets find out.

I will be comparing the fascinating banana island with highly priced neighborhood in four of the greatest cities around the world. Namely:

Yorkville, Toronto, Canada
Beverly hills, California, United States
7th arridossiment, Paris, France
Kingsington Palace Gardens, London, UK

Criteria
Rent
Utilities
Feeding
Transportation
Savings and mecellinious

Banana Island, Lagos
Cheapest one bedroom flat= 4.5milion naira/annum, (2.25million shared by two)
Service charges = 4-6 million naira/annum
Minimum wage= 360k naira/annum
Required amount to survive (for two) here 4.6million naira/annum each.
Rent and service charge = 4.25million /yr
Feeding = 240k/yr
Mecellinious = 120k
Transportation = bicycle obviously
Total = 4.6milion
You need 13 times minimum wage to live frugal here.

York ville, Toronto
Cheapest one bedroom flat = c$25200/annum (c$ 12600 each shared by two)
Utilities = c$3000/annum
Minimum wage = c$14 ( using 2080hrs a year minus 15% tax and 3% deductions =c$24000/annum) accordingly to nuova.ca
Rent and Utilities = c$15600/ annum
Feeding = c$3000/ annum
Transportation = c$1400/annum
Mecellinious = 600/ annum
Minimum wage will get you living frugal here.

Bervily hills, California
Cheapest one bedroom flat = $26400/ annum ($13200 each shared by two)
Minimum wage = $12/hr using the above hrs minus 11% tax = $20400/annum
Utilities = $3600/ annum
Feeding = $2400/annum
Mecellinious = 1200 /annum
Transportation = bicycle obviously.
You will live frugal with minimum wage.

7th Arridossiment, Paris
Cheapest one bedroom flat = €21600 accordingly to book-a-flat.com (€10800 each shared by two)
Minimum wage = €10.3/hr using 2080 hrs a year minus 14% tax = €18000
Utilities = €2400
Feeding = €2400
Mecellinious = €1200
Transportation and savings = €1600
You can live frugal with minimum wage here

Kingsington Palace Gardens, London
Cheapest one bedroom accordingly to zoopla.com = £21600/annum (£10800 each shared by two)
Minimum wage = £10.75/hr using the above hrs minus 20% tax = £17880/annum
Utilities = £3000/annum
Feeding= £2400/annum
Mecellinious = £1200/annum
Savings = £480/annum
Transportation = bycicle obviously
You can live frugal with minimum wage

As you can see, you need about 750k naira a month and about $3400 post tax to live alone and frugal in the respective priced neighborhood.
That means someone earning $3400 post tax has a better purchasing power both home and abroad than a person on 500k naira a month in Nigeria.

So, when the berate you for living your 500k a Month job for Western countries, show them this thread.

Disclaimer: This is solely based on research, I am not a resident of any the Afromentioned neighborhood. I am open to corrections.

cc : justwise
cc: lalasticlala

Lol... OP the OP! How can you feed with C$250 per month in the city of Toronto nah?

Thanks for this insightful post. Permit me to offer another perspective. LONG POST ALERT!!!

You worked based minimum wage but at the end, you called out those who kick against leaving a 500k job. That's already a disconnect. I don't think they would kick against leaving a minimum wage job. So if you want to attack them, compare directly with a 500k earner in Nigeria since that's what they are against leaving. I noticed you did that in your conclusion but the premise that led to that conclusion isn't supporting enough because data gotten from comparing the movement from minimum wage to minimum wage isn't sufficient to draw a conclusion for the movement from N500k and $3,500. Comparing minimum wage to minimum wage, Nigeria shouldn't even be in the chat. But if you're talking about people who leave 500k jobs to travel abroad, then there might be a discussion. And to be fair, it would be against the $3,500 earner you mentioned. So let's make this about N500,000 vs $3,500 (to better fit into the scenario our friends kick against).

First, people who live on Banana Island aren't earning 500k (they earn far more) and they are not the ones leaving their jobs to travel. So using banana Island to exemplify would be an attempt to further diminish the worth of the 500k and therefore favour the idea of travelling. You may argue that you also used expensive areas in the other cities but that's exactly where their strength lies. Here is what I mean, the different between expensive areas in Lagos and cheap areas in Lagos is extremely wide with a in-betweens. This is both a good and a bad thing. The only good thing therein is that it gives everyone the chance to fit in based on thier earnings. On the other hand, the difference between the expensive areas and the cheap areas in these other cities may not be as wide (they are generally expensive cities). So a $3,500 earner (whose net pay would be about $2,775) cannot live in a 2 bedroom flat in the city of Toronto and still save while a 500k earner can live in a 2 bedroom flat outside Lagos downtown (Victoria Island?) and still have enough savings. With kids, you'd still live well in Lagos with 500k. If you have kids and you earn $3,500 in any of these other cities, I can only say LOL.

So when you compare expensive areas like you did, you're hiding the shortcomings of these developed cities (cause virtually everywhere is expensive there). But when you compare cheaper neighborhoods in Lagos with the so-called cheaper neighborhoods in these other cities, Lagos will have an upper hand cause even a 200k earner will still live alone in a flat outside of downtown Lagos (I presume). Theoretically, when you compare the expensive areas in two cities, the more expensive city is likely to win cause you are pitching the poor earnings of the cheaper against expensive properties. But when you compare cheaper neighborhoods in two cities, the cheaper city is more likely to win cause even the lower earnings of the expensive city may not be able to cater for the generally expensive environment. So I believe the reason people call out those that leave their 500k job to travel abroad is cause of the choices they get in Nigeria that they might not get in the developed nations with their $3,500. The 500k guy living in a 2 bedroom flat in Lagos Mainland will hardly be able to save with $3,500 if he dares to live in a 2 bedroom flat in Toronto even outside downtown. So such a person might be going to share a flat so as to save.

Am I against leaving Nigeria as a high earner? Not really cause provided you find a way to save (even if it means inconveniencing yourself), you will get value. Prices of items tend to sit well with cash-at-hand cause these items were manufactured in costs calculated in a similar economy and expressed in the same currency as where you earn. So you can easily get an iPhone in the US not because you are rich but cause an iPhone isn't really as expensive as a Naira earner perceives. And when it comes to using cash at home, exchange rate still works in your favour so again, a little saving is worth much. So the question is, will you be able to save and still not subject yourself to so much discomfort? The truth is, there is no point living a 1st world country and living a 3rd life. So you should afford yourself the basic necessities. If you can save after these, then leaving that 500k job might be a great decision cause apart from money, there is more to gain abroad.

WoundedLamb:
Lol... OP the OP! How can you feed with C$250 per month in the city of Toronto nah?

are you saying c$500 for two a month is not doable? Remember cooked food no eating out.

Pictures

Banana island
Yorkville
Beverly hills
Kingston palace

Davidganna10:
are you saying c$500 for two a month is not doable? Remember cooked food no eating out.

I'll pin that at a minimum of $300, bro.

[quote author=WoundedLamb post=94919493]

I'll pin that at a minimum of $300, bro. [/quotei] OK

Op you summarised everything perfectly. I laugh when people say Nigeria has low cost of living that's an absolute lie. Nigeria has very high costs of living with very low standards. Isn't it just 8 percent of Nigerians that earn over 100k a month. The people who make that 500k monthly are like 2 percent of the working population. Average salaries here are like 30000 to 50000 and that won't even rent a house in ghettos sef also calculate the cost of feeding and transport. Food is more expensive in Nigeria than abroad. Check Walmart for American food prices and compare them to what we have here if you doubt me.


As for standards of living honestly Nigeria has no standards even banana island looks like a shithole. I have been to an Italian village, a village O and not a city and I was marvelled by everything.

WoundedLamb:
Lol... OP the OP! How can you feed with C$250 per month in the city of Toronto nah?

Thanks for this insightful post. Permit me to offer another perspective. LONG POST ALERT!!!

You worked based minimum wage but at the end, you called out those who kick against leaving a 500k job. That's already a disconnect. I don't think they would kick against leaving a minimum wage job. So if you want to attack them, compare directly with a 500k earner in Nigeria since that's what they are against leaving. I noticed you did that in your conclusion but the premise that led to that conclusion isn't supporting enough because data gotten from comparing the movement from minimum wage to minimum wage isn't sufficient to draw a conclusion for the movement from N500k and $3,500. Comparing minimum wage to minimum wage, Nigeria shouldn't even be in the chat. But if you're talking about people who leave 500k jobs to travel abroad, then there might be a discussion. And to be fair, it would be against the $3,500 earner you mentioned. So let's make this about N500,000 vs $3,500 (to better fit into the scenario our friends kick against).

First, people who live on Banana Island aren't earning 500k (they earn far more) and they are not the ones leaving their jobs to travel. So using banana Island to exemplify would be an attempt to further diminish the worth of the 500k and therefore favour the idea of travelling. You may argue that you also used expensive areas in the other cities but that's exactly where their strength lies. Here is what I mean, the different between expensive areas in Lagos and cheap areas in Lagos is extremely wide with a in-betweens. This is both a good and a bad thing. The only good thing therein is that it gives everyone the chance to fit in based on thier earnings. On the other hand, the difference between the expensive areas and the cheap areas in these other cities may not be as wide (they are generally expensive cities). So a $3,500 earner (whose net pay would be about $2,775)[b] cannot live in a 2 bedroom flat in the city of Toronto and still save while a 500k earner can live in a 2 bedroom flat outside Lagos downtown (Victoria Island?) and still have enough savings. With kids, you'd still live well in Lagos with 500k. If you have kids and you earn $3,500 in any of these other cities, I can only say LOL.

So when you compare expensive areas like you did, you're hiding the shortcomings of these developed cities (cause virtually everywhere is expensive there). But when you compare cheaper neighborhoods in Lagos with the so-called cheaper neighborhoods in these other cities, Lagos will have an upper hand cause even a 200k earner will still live alone in a flat outside of downtown Lagos (I presume). Theoretically, when you compare the expensive areas in two cities, the more expensive city is likely to win cause you are pitching the poor earnings of the cheaper against expensive properties. But when you compare cheaper neighborhoods in two cities, the cheaper city is more likely to win cause even the lower earnings of the expensive city may not be able to cater for the generally expensive environment. So I believe the reason people call out those that leave their 500k job to travel abroad is cause of the choices they get in Nigeria that they might not get in the developed nations with their $3,500. The 500k guy living in a 2 bedroom flat in Lagos Mainland will hardly be able to save with $3,500 if he dares to live in a 2 bedroom flat in Toronto even outside downtown. So such a person might be going to share a flat so as to save.

Am I against leaving Nigeria as a high earner? Not really cause provided you find a way to save (even if it means inconveniencing yourself), you will get value. Prices of items tend to sit well with cash-at-hand cause these items were manufactured in costs calculated in a similar economy and expressed in the same currency as where you earn. So you can easily get an iPhone in the US not because you are rich but cause an iPhone isn't really as expensive as a Naira earner perceives. And when it comes to using cash at home, exchange rate still works in your favour so again, a little saving is worth much. So the question is, will you be able to save and still not subject yourself to so much discomfort? The truth is, there is no point living a 1st world country and living a 3rd life. So you should afford yourself the basic necessities. If you can save after these, then leaving that 500k job might be a great decision cause apart from money, there is more to gain abroad.

1. My first comparason was solely on 750k a month earner, I had to rope in the 500k because I perused a thread where someone said 500k here is better than $5000 in united states. And as you can see, I used united states and not Canada which would have been c$4000 post tax in respect to my data above.

2. That is exactly the purpose of this thread.

3. The amount is after tax

4. The cheapest two bedroom apartment in Victoria island ranges from 4-6million, service charge not included so he cannot survive with that amount. With kids? Lol. likewise someone on c$4000 will not survive with kids in bay street corridor which is another priced neighborhood.

5. You do know Lagos mainland may not have social amenities and you will have to provide those, unlikely lets say New Toronto, where you can find a two bedroom flat of c$2500 including utilities per month.

WoundedLamb:
Lol... OP the OP! How can you feed with C$250 per month in the city of Toronto nah?

Thanks for this insightful post. Permit me to offer another perspective. LONG POST ALERT!!!

You worked based minimum wage but at the end, you called out those who kick against leaving a 500k job. That's already a disconnect. I don't think they would kick against leaving a minimum wage job. So if you want to attack them, compare directly with a 500k earner in Nigeria since that's what they are against leaving. I noticed you did that in your conclusion but the premise that led to that conclusion isn't supporting enough because data gotten from comparing the movement from minimum wage to minimum wage isn't sufficient to draw a conclusion for the movement from N500k and $3,500. Comparing minimum wage to minimum wage, Nigeria shouldn't even be in the chat. But if you're talking about people who leave 500k jobs to travel abroad, then there might be a discussion. And to be fair, it would be against the $3,500 earner you mentioned. So let's make this about N500,000 vs $3,500 (to better fit into the scenario our friends kick against).

You finish work! While OP has done well by at least creating this thread, it does not encompass the realities. The issue he talks about is living costs, however, he forgot standard of living. You are basically comparing two people using a sole standard of living (that of developed countries). To be honest, anyone earning 750K in Nigeria would live a relatively good life based on standards of things in Nigeria. Are these standards world class? No. But that is the reality. Same mistakes The Economist make when she calculates living costs across various cities. According to her, Singapore is more expensive than say London. However, this is because owning and driving a car is very expensive in the Asian city than her European counterpart. Public transport costs in Singapore are lower ditto food (if you eat what the locals consume not western diets). Same with housing and also salaries. Nigeria is not a top 20 economy and cannot afford the salaries Canada, US, UK etc., offer their workers. Same way salaries are notoriously and relatively low in Japan and Germany compared to the US but costs of living are also relatively low. Compare rents in Tokyo and San Francisco, the former is lower than the latter but don't expect to earn the latter's salaries in the former even though she is the capital of the third largest economy in the world. Let alone Nigeria wey no dey top 20. So anyone trying to live a Banana Island lifestyle in Toronto on Banana Island's salaries would have it very difficult. Same way the person should not expect to earn Canadian salaries in Nigeria when the firm generates the bulk of revenue from Nigeria.

When doing these kinds of comparisons, factor in standards of living and currency valuations. The salaries you have in Nigeria reflect the size and scope of the economy. Though, the hack is earning in say dollars and living in Nigeria. That is it! But if you check it again, such hack won't work in Zurich or Singapore. So you see?

Gerrard59:


You finish work! While OP has done well by at least creating this thread, it does not encompass the realities. The issue he talks about is living costs, however, he forgot standard of living. You are basically comparing two people using a sole standard of living (that of developed countries). To be honest, anyone earning 750K in Nigeria would live a relatively good life based on standards of things in Nigeria. Are these standards world class? No. But that is the reality. Same mistakes The Economist make when she calculates living costs across various cities. According to her, Singapore is more expensive than say London. However, this is because owning and driving a car is very expensive in the Asian city than her European counterpart. Public transport costs in Singapore are lower ditto food (if you eat what the locals consume not western diets). Same with housing and also salaries. Nigeria is not a top 20 economy and cannot afford the salaries Canada, US, UK etc., offer their workers. Same way salaries are notoriously and relatively low in Japan and Germany compared to the US but costs of living are also relatively low. Compare rents in Tokyo and San Francisco, the former is lower than the latter but don't expect to earn the latter's salaries in the former even though she is the capital of the third largest economy in the world. Let alone Nigeria wey no dey top 20. So anyone trying to live a Banana Island lifestyle in Toronto on Banana Island's salaries would have it very difficult. Same way the person should not expect to earn Canadian salaries in Nigeria when the firm generates the bulk of revenue from Nigeria.

When doing these kinds of comparisons, factor in standards of living and currency valuations. The salaries you have in Nigeria reflect the size and scope of the economy. Though, the hack is earning in say dollars and living in Nigeria. That is it! But if you check it again, such hack won't work in Zurich or Singapore. So you see?

Relative good life? Where? Don't mention Lagos mainland because that is no good life, with exception of some private estate whose service charges can be pocket depressing. You do know my comparison is both luxury neighborhood, even in the not so luxury neighborhood their purchasing powers are the same, you will agree with me it may take years of job experience to land that this position.

Note there are places in Lagos where 3 bedroom goes for 350k. Will you like to stay there No, considering you status.

tensazangetsu20:
Op you summarised everything perfectly. I laugh when people say Nigeria has low cost of living that's an absolute lie. Nigeria has very high costs of living with very low standards. Isn't it just 8 percent of Nigerians that earn over 100k a month. The people who make that 500k monthly are like 2 percent of the working population. Average salaries here are like 30000 to 50000 and that won't even rent a house in ghettos sef also calculate the cost of feeding and transport. Food is more expensive in Nigeria than abroad. Check Walmart for American food prices and compare them to what we have here if you doubt me.


As for standards of living honestly Nigeria has no standards even banana island looks like a shithole. I have been to an Italian village, a village O and not a city and I was marvelled by everything.

This is exactly my argument low wage, high rent and high expenses you can imagine, you will have to earn 13 times! of minimum wage to live in banana island, this includes having a room mate and no savings. No wonder most of the buildings their are empty.

Davidganna10:
This is exactly my argument low wage, high rent and high expenses you can imagine, you will have to earn 13 times! of minimum wage to live in banana island, this includes having a room mate and no savings. No wonder most of the buildings their are empty.

No mind them. Compare Vietnam that has very low living costs to naija infact lower sef. Their average salaries es are so high. This country is cursed.

tensazangetsu20:

No mind them. Compare Vietnam that has very low living costs to naija infact lower sef. Their average salaries es are so high. This country is cursed.

for instance in Yorkville Toronto you can easily see cheap restaurant to eat with c$20 about 6000 naira but in banana island with 10000 naira you no go see food chop. I don't blame them though, services charges their are something else.

Davidganna10:
for instance in Yorkville Toronto you can easily see cheap restaurant to eat with c$20 about 6000 naira but in banana island with 10000 naira you no go see food chop. I don't blame them though, services charges their are something else.

True bros I remember when we went to a restaurant in Italy. We had pizza for all of us. Steak, beer and the bill came down to 40 euros and the locals said that was the classiest restaurant in town. You can't try such in Lagos. Some places in Lagos a plate of food is 20000.

Davidganna10:
1. My first comparason was solely on 750k a month earner, I had to rope in the 500k because I perused a thread where someone said 500k here is better than $5000 in united states. And as you can see, I used united states and not Canada which would have been c$4000 post tax in respect to my data above.

2. That is exactly the purpose of this thread.

3. The amount is after tax

4. The cheapest two bedroom apartment in Victoria island ranges from 4-6million, service charge not included so he cannot survive with that amount. With kids? Lol. likewise someone on c$4000 will not survive with kids in bay street corridor which is another priced neighborhood.

5. You do know Lagos mainland may not have social amenities and you will have to provide those, unlikely lets say New Toronto, where you can find a two bedroom flat of c$2500 including utilities per month.

Ok... I don't think 1 and 2 requires me to say anything since they could be considered not within the current context anymore. But I took note..

3) My submission would still be the same nevertheless.

4) I said outside Lagos downtown (Victoria?). That was me asking if Victoria is what Lagos downtown is called. I wasn't suggesting you should use Victoria Island for the comparison. Maybe I should have been clearer or even remove Victoria from the sentence.

5) I know. But a 500k earner in Lagos can afford a 2 bedroom flat and those amenities and still save very well. A decent flat of 500k/year will cost just about 40k per month thus creating room for other expenses and a good saving. Whereas a $3,500 earner who pays $2,500 per month is already cornered when you consider other monthly expenses.

Davidganna10:
for instance in Yorkville Toronto you can easily see cheap restaurant to eat with c$20 about 6000 naira but in banana island with 10000 naira you no go see food chop. I don't blame them though, services charges their are something else.

But when you do whole of Lagos vs whole of Toronto, the story changes. N270 can afford you a full meal outside downtown Lagos but it's equivalent (c$1) can't afford you that anywhere in Toronto. N500 can get you a good haircut in Lagos. c$2 can't even cut the hairs off one's nostrils in Toronto. Lagos is scaled out giving low earners more options. Though those in Toronto may not earn as low as those in Lagos, the city could easily make their income seem even lower due to lack many options. That's why men of above 30 years still share apartments Toronto. The rent has generally gone up that some people have gone back to their father's houses.

It's like iPhone and Samsung. Samsung is better scaled out to accommodate different earners while iPhone isn't. When two rich teams compare iPhone and Samsung features, the iPhone team might win. When two not-so-reach teams do that comparison, the iPhone team may not even have a phone to compare with.

I always believe one should move cause his calculations show he will be better off and not cause he believes he will surely be better off since it's abroad cause that might backfire.

What is your definition of decent please? Neighbourhood, the building itself, amenities?

Most times, we forget how difficult it is for people to find themselves in a good income bracket in Nigeria. For you to earn a good income in Nigeria, a lot must have been invested in terms of your background or you must be part of the 0.1% who were just plain lucky.

So do you consider that such a person with a certain background would want to leave in a neighbourhood where 'a decent flat' costs 400k?

Wages in Nigeria are simply not commensurate with expenses! The higher you earn, the more 'decent' life you would want like living close to your workplace in a good neighbourhood, and the more the income-expense disparity!

WoundedLamb:


Ok... I don't think 1 and 2 requires me to say anything since they could be considered not within the current context anymore. But I took note..

3) My submission would still be the same nevertheless.

4) I said outside Lagos downtown (Victoria?). That was me asking if Victoria is what Lagos downtown is called. I wasn't suggesting you should use Victoria Island for the comparison. Maybe I should have been clearer or even remove Victoria from the sentence.

5) I know. But a 500k earner in Lagos can afford a 2 bedroom flat and those amenities and still save very well. A [b]decent flat of 400k/year [/b]will cost just about 33k per month thus creating room for other expenses and a good saving. Whereas a $3,500 earner who pays $2,500 per month is already cornered when you consider other monthly expenses.

Tamm:
What is your definition of decent please? Neighbourhood, the building itself, amenities?

Most times, we forget how difficult it is for people to find themselves in a good income bracket in Nigeria. For you to earn a good income in Nigeria, a lot must have been invested in terms of your background or you must be part of the 0.1% who were just plain lucky.

So do you consider that such a person with a certain background would want to leave in a neighbourhood where 'a decent flat' costs 400k?

Wages in Nigeria are simply not commensurate with expenses! The higher you earn, the more 'decent' life you would want like living close to your workplace in a good neighbourhood, and the more the income-expense disparity!

I have been to Ago Palace. That's a decent neighborhood in Lagos and one can get a 2 bedroom flat of about 500k there. A 500k per month earner wouldn't be very comfortable there?

Besides, decent living isn't just about the location. It's more about cash-at-hand and that's the crux of my message. A 500k earner living in Ago Palace will have more cash-at-hand than a $3,500 earner in say North York Toronto. What's the point of living in North York where you share flat and look at the good life through the window but can't afford to live it cause of the absence of money?

The summary of my long post is, for a 500k guy to live Lagos for Toronto, a salary of more than $3,500 is required because what we should be measuring is cash at hand after mandatory expenses.

WoundedLamb:


But when you do whole of Lagos vs whole of Toronto, the story changes. N270 can afford you a full meal outside downtown Lagos but it's equivalent (c$1) can't afford you that anywhere in Toronto. N500 can get you a good haircut in Lagos. c$2 can't even cut the hairs off one's nostrils in Toronto. Lagos is scaled out giving low earners more options. Though those in Toronto may not earn as low as those in Lagos, the city could easily make their income seem even lower due to lack many options. That's why men of above 30 years still share apartments Toronto. The rent has generally gone up that some people have gone back to their father's houses.

It's like iPhone and Samsung. Samsung is better scaled out to accommodate different earners while iPhone isn't. When two rich teams compare iPhone and Samsung features, the iPhone team might win. When two not-so-reach teams do that comparison, the iPhone team may not even have a phone to compare with.

I always believe one should move cause his calculations show he will be better off and not cause he believes he will surely be better of since it's abroad cause that might backfire.

I am no comparing both currencies when converted sir. I am looking at the overwhelming gap between the top 1% income earners in Nigeria and the rest, vis-à-vis developed nation. It is simply human nature, the more I earn the more luxury I yearn, someone earning 500k may likely not fancy the less priced neighborhood, because of obvious reasons. Which can range from security to poor amenities, At the same time cannot afford to live in the top 5 priced neighborhood in the country. Do you know with 90k (3times minimum wage) in Lagos you will barely survive even in the mainland where one bedroom apartment is priced at 250k, why? Unnecessary inflation, from rents, to agents, to everyday goods and services.

Tamm:
What is your definition of decent please? Neighbourhood, the building itself, amenities?

Most times, we forget how difficult it is for people to find themselves in a good income bracket in Nigeria. For you to earn a good income in Nigeria, a lot must have been invested in terms of your background or you must be part of the 0.1% who were just plain lucky.

So do you consider that such a person with a certain background would want to leave in a neighbourhood where 'a decent flat' costs 400k?

Wages in Nigeria are simply not commensurate with expenses! The higher you earn, the more 'decent' life you would want like living close to your workplace in a good neighbourhood, and the more the income-expense disparity!

Exactly my argument!

Davidganna10:
I am no comparing both currencies when converted sir. I am looking at the overwhelming gap between the top 1% income earners in Nigeria and the rest, vis-à-vis developed nation. It is simply human nature, the more I earn the more luxury I yearn, someone earning 500k may likely not fancy the less priced neighborhood, because of obvious reasons. Which can range from security to poor amenities, At the same time cannot afford to live in the top 5 priced neighborhood in the country. Do you know with 90k (3times minimum wage) in Lagos you will barely survive even in the mainland where one bedroom apartment is priced at 250k, why? Unnecessary inflation, from rents, to agents, to everyday goods and services.

No, bro. I made it clear in my first post that this isn't just a comparison of two cities in terms of how far minimum wage can take one. Nigeria can't even compare in that regards and the people this thread is made address aren't arguing that. I also said it that comparing rich to rich alone will hide the shortcomings of Toronto, a city for the rich and less accommodating to the poor. From my perspective, this is specifically a discussion about the decision of a 500k earner to leave Lagos for a $3,500 job. And I'm saying that due to so many moving factors involved, a better measure would be where he'd have more cash-at-hand after mandatory expenses, and that would be Lagos because Lagos gives more options than Toronto. A 500k earner might need a little more than $3,500 to make that move. That's my point.

Justwise front-page please, let's have more enlightened comments.