Relocating To Nigeria : What Budget? - Family (2) - Nairaland
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| Re: Relocating To Nigeria : What Budget? by Cine(m): 4:36pm On May 09, 2012 |
3bdr in VI and Ikoyi will start at N3.5 - 4m and go up to 8/9m per annum. Many landlords charge two years up front too. Lekki phase one is slightly cheaper although I see J Berger's currently building a bridge between ikoyi and LPhase1 so prices will no doubt shoot up in Lekki when said bridge is complete. |
| Re: Relocating To Nigeria : What Budget? by LynxEyed(m): 4:40pm On May 09, 2012 |
What Happens After All These Money Consumming Probes aka Oversight Functions of the NA? |
| Re: Relocating To Nigeria : What Budget? by mimifonwon(f): 4:42pm On May 09, 2012 |
Miss_Ife: Hello nairalanders Umm am not going to fool you , but if you are going to relocate especially to lagos, then make sure you have at least 120K dollars saved in your account for the spending of the above, if you plan to have all those above. I would also say make sure you have a good job. My brother relocated to work for my father's company and i know even though he doesnt have a nanny, nor married yet, he spends over 50k dollars a year , and this said olodo brother of mine dont pay for house rent( cuz he stays in one of our family houses). But it also depends on the area of lagos you want to reside in. If you dont have the dough, dont go past close to Vi,banana island or even magodo self to attempt to get accommodation. The way lagos is is right now, things have become expensive in the more developed places. |
| Re: Relocating To Nigeria : What Budget? by Fhemmmy: 4:44pm On May 09, 2012 |
I am learning a lot from this thread . . . |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 5:02pm On May 09, 2012 |
the amount you have will determine where you'll live. high brow areas cost more. but i'll advice you to blow the expense and pay if you know you luv peace and for security reasons. staying with the hoipolloi is full of troubles. but the basic things you need: 1. A source of income first [very important or some good amount of money to last you for a while while you look for a job. a little as 200k may be sufficient if you are not extravagant and you have paid your rents. the beautyof Nigeria is that your are not constantly pestered with bills and direct debit bills for gas, electricity, internet, telephone..e.t.c on monthly basis..you fit even beg landlord sef, they'll understand unlike abroad where nobody wants to listen that you are broke] 2. get n accommodation: Highbrow: Ikeja, lekki, magodo, gbagada ph1 & ph2, VGC, maryland estate, omole estate etc for a 3bed flat budget between 800k to 1.5mil. if you want a duplex start thinking between 2mil to 4mil] middle class: places like Ajao estate, Isolo estate, ogba, etc 20%-40% lower. Lower class:  3. get a car to enhance your mobility. if you are in US, better ship one down and start making contacts with a reliable clearing agent. I know Adexfem here on NL. 4. Make sure you have a generator! NEPA /NEP plc highly unreliable. |
| Re: Relocating To Nigeria : What Budget? by deenee: 5:05pm On May 09, 2012 |
The decision to relocate is a personal choice and I will suggest that you plan some trips to Nigeria to see things for yourself. No doubt a lot of opinions put forward will be based on the perception of the people herein and this is usually subjective, relative and based on the orientation of the people making these suggestions. I am an investment manager with a PE firm based in NYC and also intend to move back very soon. I turned down a mouth watering offer to manage PE fund for an asset mgt coy in Nigeria because I foolishly allowed myself to be brainwashed by some folks into believing that it is all gloom and doom in Nigeria. This was two years ago. The chap that took the offer has just finished his own duplex in an enclosed estate adjacent VGC and doing pretty ok for himself and family. In fact, the wife recently resigned from her day time job and manages a creche so she can have time for their kids. So if you have cash you may consider owing a house instead of renting one if Lekki/ VI axis is where you hope to settle. No doubt, there are a lot if issues that you will have to deal with like the problem of stickiness and heat in Lagos which can be suffocating if one is not careful but believe me if you have well paid job or manage a thriving business, you will enjoy yourself to the fullest. I make trips to Nigeria every now and then and especially when I am on annual holiday as I am currently and I must confess that it is not all gloom and doom. But hey, this is just my own subjective opinion so please make sure you plan well in advance before taking the leap. All the best! |
| Re: Relocating To Nigeria : What Budget? by luckgames(m): 5:08pm On May 09, 2012 |
Miss_Ife: Hello nairalanders In Lagos 2001 about $30,000 ( old senators house) Don't need agateman house help about 10,000 naira |
| Re: Relocating To Nigeria : What Budget? by bobosydney: 5:09pm On May 09, 2012 |
At the poster , i think it will be better for you to build your own house in naija before you move there permanently . For me , i'm already build my house in Naija and i'm moving back home in few years time and i'm still saving money to start my own business In Naija now . Never take a gamble to rely on on Naija job , you might be never satisfy with the low salary that they pay there . At least , you still need earn minimum of 500k a month as monthly salary as a oversea returnee to be able to survive very well. I just came from holiday and to check on my project there . Because i'm moving back home soon and is better to go for holiday first . Nigeria is not a place where you can stay in oversea and make plans for , you need to be ther first. |
| Re: Relocating To Nigeria : What Budget? by Nobody: 5:18pm On May 09, 2012 |
blank: 3 bedroom in Lekki starts from N1m to N2.5m per annum. Then 2 get almost 24hrs light n water, it will be a serviced flat from N400k to N1.5m service charge per annum. U could get ur own gen n inverter which will have a different cost implication. How can u be paying gateman 10k to 20k and say u are generous, even nanny, that is wickedness, Look at Greece, no matter they are in deep shit, average gateman receives 500 Euros a month, that is like 120k plus in naira, naija with stingy hands 1 Like 1 Share |
| Re: Relocating To Nigeria : What Budget? by Nobody: 5:30pm On May 09, 2012 |
Miss_Ife: Hello nairalanders I was transferred by my company to Lagos and my apartment was at Lekki. However, when it rains you are in for deep Poo. Anyway i had to relocate to Ikeja and i'm happier now. I think the Island is simply overrated. Back to your question. -4 bedroom apartment at Lekki(N2.5m per annum, paid by company) -Spend an average of 50 litres of fuel weekly (times that by cost of a litre) -The apartment has a borehole so water is free. -No househelp, i love to do my thing myself.(But you can get for as low as 15k per mnth) -Driver is about 85k per mnth (company payroll and works 7am-7pm weekdays only) -Gateman is like 15k a mnth (the managers of the apartment pays the gateman but these aboki guys are generally cheap to hire) -Food is a personal thing but i basically spend like 50k a mnth for 4 mouths. At Ikeja every cost remains the same but the apartment fee is N1.8m per annum. The only price to pay is the hectic trip to and from work on the Island. |
| Re: Relocating To Nigeria : What Budget? by MissIfe(f): 5:46pm On May 09, 2012 |
BlueDiva: This is what I am scared about. I don't want to spend hours in traffic everyday and want to live as near as possible from work (which, if things go fine, might be in VI). I guess that might be reconsidered, though, especially if we plan to build and not rent. |
| Re: Relocating To Nigeria : What Budget? by norrisman: 6:03pm On May 09, 2012 |
My folks spend N32000 on diesel a week! and they are at work during the day. It is switched on from like 8pm to 8am weekdays and about 20 hours Saturday and Sunday. Now you do the maths |
| Re: Relocating To Nigeria : What Budget? by Teedol: 6:08pm On May 09, 2012 |
@ poster,if u would be staying in Nigeria for long, I would advice u to buy an apartment around ikeja and its environs. 100k usd will give u a nice one. Ship down two vehicles, make sure the fuel consumption rate is btw 1.6- 2.0L. Buy a generator probably 6kva-10kva so u can power ur AC when the weather is extremely hot(there are times when d wind won't just blow). Look for another 100k usd and start a business. I assure u u will enjoy Lagos this way. If u got tired after some yrs, u can always sell ur house and make good pay. My 2 cents. |
| Re: Relocating To Nigeria : What Budget? by Fhemmmy: 6:22pm On May 09, 2012 |
norrisman: My folks spend N32000 on diesel a week! and they are at work during the day. It is switched on from like 8pm to 8am weekdays and about 20 hours Saturday and Sunday. Now you do the maths How do people survive in Nigeria if they spending 128K Naira a month on making sure they have electricity? |
| Re: Relocating To Nigeria : What Budget? by targus: 6:23pm On May 09, 2012 |
Hi Ife, I relocated back to Nigeria about four years ago and i can reliably tell you that it can be daunting. The most important thing to consider is the accommodation and i will seriously advise you to buy a land and build (even if it's one bedroom), because that is one of the things that can bring stress after one year and things are still not perfect, the landlord will not understand. Beside that, Regarding electricity, I'll suggest you buy a 2kw inverter from Amazon or Ebay and get batteries connected to it to provide electricity for your basic need like light, Tv, fan and Fridge.(with time you'll get use to getting by with just fan) and also bring a reliable 5kva generator to charge your inverter. with this, you should be able to get by on N200K a month, food is the cheapest, things like cereal, bake beans,and stuff is not really expensive and make sure you do bulk buying for your Nigerian food.I pay my driver 25k a month and my gate man 15k,we only have Nanny when my family are around during the school holiday and we pay 15k a month for this service. Now i get by on N200k a month without inconveniencing myself. wishing you best of luck. |
| Re: Relocating To Nigeria : What Budget? by Fhemmmy: 6:33pm On May 09, 2012 |
^^^ Hmmmmm |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 6:44pm On May 09, 2012 |
targus: Hi Ife, I relocated back to Nigeria about four years ago and i can reliably tell you that it can be daunting. The most important thing to consider is the accommodation and i will seriously advise you to buy a land and build (even if it's one bedroom), because that is one of the things that can bring stress after one year and things are still not perfect, the landlord will not understand. Beside that, Regarding electricity, I'll suggest you buy a 2kw inverter from Amazon or Ebay[color=#990000][/color] and get batteries connected to it to provide electricity for your basic need like light, Tv, fan and Fridge.(with time you'll get use to getting by with just fan) and also bring a reliable 5kva generator to charge your inverter. with this, you should be able to get by on N200K a month, food is the cheapest, things like cereal, bake beans,and stuff is not really expensive and make sure you do bulk buying for your Nigerian food.I pay my driver 25k a month and my gate man 15k,we only have Nanny when my family are around during the school holiday and we pay 15k a month for this service. Now i get by on N200k a month without inconveniencing myself. wishing you best of luck. I'm also thinking in the same direction. thanks for this wonderful advice. as per Op, we are in the same boat. I'v been thinking of also relocating but accommodation and light is a prob really I must confess. @ targus: concerning the bolded, is this what you mean? http://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=p5197.m570.l1313&_nkw=2kw+inverter&_sacat=See-All-Categories. if you use this, could you please provide a clue regarding it's efficiency? how long do you charge it and how long does it last after being fully charged. I can easily source this from ebay |
| Re: Relocating To Nigeria : What Budget? by targus: 6:48pm On May 09, 2012 |
@Pato405, check this link but you don't need this size. http://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=m570.l1313&_nkw=victron+inverter+charger&_sacat=See-All-Categories |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 6:49pm On May 09, 2012 |
1 Like |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 6:50pm On May 09, 2012 |
targus: @Pato405, check this link but you don't need this size. £2,900  close to 750k!!!!!  |
| Re: Relocating To Nigeria : What Budget? by Fhemmmy: 6:59pm On May 09, 2012 |
pato405: For people that spends 130K Naira a month on Electricity, i am sure they would rather spend this and save on diesel . . . |
| Re: Relocating To Nigeria : What Budget? by Koolking(m): 7:37pm On May 09, 2012 |
blank: 3 bedroom in Lekki starts from N1m to N2.5m per annum. Then 2 get almost 24hrs light n water, it will be a serviced flat from N400k to N1.5m service charge per annum. U could get ur own gen n inverter which will have a different cost implication. Nobody pays N10/N25k to nanny/gateman now unless you are mean. It's more expensive when you hired them from an agency, becos the agency is expected to get a certain percentage if not half of the total amount accrued to the nanny/gateman every month. It is wise if the op make a budget of btw N35/N50k in that regard. Time has changed in Nigeria |
| Re: Relocating To Nigeria : What Budget? by PurestBoy(m): 7:44pm On May 09, 2012 |
While Boko Haram are planning to move down to Lagos, this one dey plan relocate to Lagos from a safer country, i wonder how some people reason like goats 1 Like |
| Re: Relocating To Nigeria : What Budget? by Tstark(m): 7:50pm On May 09, 2012 |
@OP I think your budget is a little bit too extravagant. Some of those things you have listed are luxuries and are only intended for the very wealthy and not for someone who still intends to work for someone else. I'm sure you don't have people driving you around where you currently live so i don't see why you cant do the driving yourself. As far as 24 hour electricity goes you can achieve that if you really want to but it will really hit you in the pocket. You're gonna have to cater for some down time during the day when everyone is at work/school, and that should lighten the burden a little. If you plan to build your own house before moving over and you haven't even started building yet then you might as well forget the whole idea of moving back in the near future and just plan for your retirement cos that's not a reasonable option if you haven't even started. My advice is to trim down that initial list of yours and throw away the mindset of coming to Lagos to live like a king until you can actually do so, and everything should be fine. There are other decent areas where you can live in lagos that wont cost you an arm and a leg so i suggest you look into that option too. |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 8:06pm On May 09, 2012 |
Tstark: @OP are you implying that anyone abroad who hasn't built a house should forget about coming home till he has a structure on ground? |
| Re: Relocating To Nigeria : What Budget? by rakumiii(m): 8:08pm On May 09, 2012 |
pato405: http://www.ebay.co.uk/itm/VARIABLE-FREQUENCY-DRIVE-INVERTER-VFD-3HP-2-2KW-10A-e6-/120674103836?pt=UK_BOI_Electrical_Components_Supplies_ET&hash=item1c18bcb21c#ht_13305wt_1185 @pato405 .........Thanks for being sooooooooo honest and not use this oppurtunity to become a salesman for this £63.00 2.2kw inverters. If I move back to nigeria and someone tells me this inverter cost N200,000, I wouldnt even argue cause I would think thats how much they are. Quick question.........When fully charged, can this inverter run a 1hp air conditioner? If it can, for how long? Thanks |
| Re: Relocating To Nigeria : What Budget? by pdpiperpippen: 8:11pm On May 09, 2012 |
U forgot to budget for bullet proof vests and bomb detectors, believe me you will be needing it. 1 Like |
| Re: Relocating To Nigeria : What Budget? by friedrice1: 8:14pm On May 09, 2012 |
We have some clean 4 bedroom Duplexes in Lekki phase one for sale at N145million each the 5 bedroom Duplex go for N8.5 million per year rent, no other hidden charges. |
| Re: Relocating To Nigeria : What Budget? by pato405(m): 8:35pm On May 09, 2012 |
pd piper pippen: U forgot to budget for bullet proof vests and bomb detectors, believe me you will be needing it.  rakumiii: did you see the first link i posted? it's about £63 [15k] why buy it for 750k.  i'm not coming to power a factory. |
| Re: Relocating To Nigeria : What Budget? by rakumiii(m): 8:42pm On May 09, 2012 |
pato405: @pato405.................I got you my broda......but if you dont mind do you have an answer to my question or a sugestion? Can I use a 2.2kw inverter to power a 1hp air conditioner and how long will it last if it does? if i need it to run it for 12-15hrs, what capacity inverter would i need? i beg no vex i have never had any experince with inverters so I have no clue..... Thanks |
| Re: Relocating To Nigeria : What Budget? by Tstark(m): 8:44pm On May 09, 2012 |
@Pato405 That's NOT what i was implying. I said that based on the fact that the OP intends to move to Nigeria soon. So if building an accommodation is now going to be factored into the equation it would mean that they would not be able to move until they complete the house. |
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