Lagos Ranks Fourth As Africa’s Most Costliest City

A new report, on Wednesday, rated Lagos as the fourth costliest city in Africa, moving up 17 places from last year’s ranking by research firm, Mercer.

N’Djamena, Chad, had the highest ranking in Africa, followed by Kinshasa in the Democratic Republic of Congo and Libreville, Gabon in second and third places, respectively.

Mercer said the rating was influenced by a number of factors, including currency fluctuations, cost of inflation for goods and services, and volatility in accommodation prices.

According to the report, in comparison with other cities in the world, Lagos, Nigeria, continues to remain attractive for foreign investments despite being one of the most expensive in Africa.