Cost of living in Iceland compared to Nigeria
Currency:
| Food | + 177% | |||
|---|---|---|---|---|
| Food in Iceland is 177% more expensive than in Nigeria | ||||
| Basic lunchtime menu (including a drink) in the business district | 2,542 kr (7,155 ₦) | 1,860 ₦ | + 285% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 1,625 kr (4,576 ₦) | 1,680 ₦ | + 172% | |
| 500 gr (1 lb.) of boneless chicken breast | 1,138 kr (3,204 ₦) | 861 ₦ | + 272% | |
| 1 liter (1 qt.) of whole fat milk | 157 kr (441 ₦) | 749 ₦ | - 41% | |
| 12 eggs, large | 730 kr (2,055 ₦) | 580 ₦ | + 254% | |
| 1 kg (2 lb.) of tomatoes | 592 kr (1,666 ₦) | 653 ₦ | + 155% | |
| 500 gr (16 oz.) of local cheese | 897 kr (2,526 ₦) | 1,870 ₦ | + 35% | |
| 1 kg (2 lb.) of apples | 297 kr (837 ₦) | 1,110 ₦ | - 25% | |
| 1 kg (2 lb.) of potatoes | 353 kr (993 ₦) | 585 ₦ | + 70% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 398 kr (1,120 ₦) | 324 ₦ | + 245% | |
| 1 bottle of red table wine, good quality | 3,452 kr (9,718 ₦) | 2,970 ₦ | + 227% | |
| 2 liters of coca-cola | 351 kr (989 ₦) | 334 ₦ | + 196% | |
| Bread for 2 people for 1 day | 401 kr (1,128 ₦) | 361 ₦ | + 212% | |
| Housing | + 144% | |||
| Housing in Iceland is 144% more expensive than in Nigeria | ||||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 235,443 kr (662,806 ₦) | 441,012 ₦ | + 50% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 219,312 kr (617,395 ₦) | 261,408 ₦ | + 136% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 10,000 kr (28,151 ₦) | 20,149 ₦ | + 40% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 149,921 kr (422,049 ₦) | 222,496 ₦ | + 90% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 143,138 kr (402,954 ₦) | 217,542 ₦ | + 85% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 5,000 kr (14,076 ₦) | 10,810 ₦ | + 30% | |
| Internet 8 mbps (1 month) | 12,000 kr (33,782 ₦) | 7,298 ₦ | + 363% | |
| 40” flat screen tv | 109,824 kr (309,170 ₦) | 62,156 ₦ | + 397% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 50,000 kr (140,757 ₦) | 29,341 ₦ | + 380% | |
| Laundry detergent (3 l. ~ 100 oz.) | 3,500 kr (9,853 ₦) | 999 ₦ | + 886% | |
| Hourly rate for cleaning help | 4,424 kr (12,453 ₦) | 1,000 ₦ | + 1145% | |
| Clothes | + 215% | |||
| Clothes in Iceland is 215% more expensive than in Nigeria | ||||
| 1 pair of jeans (levis 501 or similar) | 17,501 kr (49,267 ₦) | 5,049 ₦ | + 876% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 7,301 kr (20,553 ₦) | 10,356 ₦ | + 98% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 17,572 kr (49,468 ₦) | 10,731 ₦ | + 361% | |
| 1 pair of men’s leather business shoes | 29,325 kr (82,553 ₦) | 15,987 ₦ | + 416% | |
| Transportation | + 184% | |||
| Transportation in Iceland is 184% more expensive than in Nigeria | ||||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 3,685,050 kr (10,373,945 ₦) | 2,324,530 ₦ | + 346% | |
| 1 liter (1/4 gallon) of gas | 191 kr (537 ₦) | 146 ₦ | + 268% | |
| Monthly ticket public transport | 12,918 kr (36,365 ₦) | 13,522 ₦ | + 169% | |
| Personal Care | + 131% | |||
| Personal Care in Iceland is 131% more expensive than in Nigeria | ||||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 1,355 kr (3,814 ₦) | 748 ₦ | + 410% | |
| 1 box of antibiotics (12 doses) | 1,601 kr (4,507 ₦) | 4,995 ₦ | - 10% | |
| Short visit to private doctor (15 minutes) | 5,737 kr (16,149 ₦) | 6,486 ₦ | + 149% | |
| 1 box of 32 tampons (tampax, ob, ...) | 498 kr (1,403 ₦) | 1,123 ₦ | + 25% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 408 kr (1,148 ₦) | 764 ₦ | + 50% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 866 kr (2,439 ₦) | 930 ₦ | + 162% | |
| 4 rolls of toilet paper | 392 kr (1,103 ₦) | 311 ₦ | + 255% | |
| Tube of toothpaste | 403 kr (1,136 ₦) | 396 ₦ | + 187% | |
| Standard men's haircut in expat area of the city | 6,887 kr (19,388 ₦) | 2,354 ₦ | + 724% | |
| Entertainment | + 210% | |||
| Entertainment in Iceland is 210% more expensive than in Nigeria | ||||
| Basic dinner out for two in neighborhood pub | 8,424 kr (23,714 ₦) | 4,367 ₦ | + 443% | |
| 2 tickets to the movies | 3,253 kr (9,156 ₦) | 3,670 ₦ | + 149% | |
| 2 tickets to the theater (best available seats) | 12,000 kr (33,782 ₦) | 10,334 ₦ | + 227% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 12,000 kr (33,782 ₦) | 26,560 ₦ | + 27% | |
| 1 cocktail drink in downtown club | 2,700 kr (7,601 ₦) | 2,914 ₦ | + 161% | |
| Cappuccino in expat area of the city | 650 kr (1,830 ₦) | 1,230 ₦ | + 49% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 1,035 kr (2,914 ₦) | 366 ₦ | + 696% | |
| Ipad wi-fi 128gb | 88,913 kr (250,302 ₦) | 70,572 ₦ | + 255% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 64 kr (181 ₦) | 20 ₦ | + 795% | |
| 1 month of gym membership in business district | 8,510 kr (23,956 ₦) | 13,946 ₦ | + 72% | |
| 1 package of marlboro cigarettes | 1,700 kr (4,786 ₦) | 454 ₦ | + 954% | |
| TOTAL | + 168% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 1,167 prices entered by 114 different people.
These prices were last updated on May 26, 2020.
Exchange rate:
2.815
NGN
/
ISK
*
Cost of living in Iceland is 168% more expensive than in Nigeria
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