Cost of living in Iceland compared to Nigeria
Currency:
| Food | + 136% | |||
|---|---|---|---|---|
| Food in Iceland is 136% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| Basic lunchtime menu (including a drink) in the business district | 4,437 kr (13,966 ₦) | 3,461 ₦ | + 304% | |
| Combo meal in fast food restaurant (big mac meal or similar) | 2,053 kr (6,462 ₦) | 3,494 ₦ | + 85% | |
| 500 gr (1 lb.) of boneless chicken breast | 1,018 kr (3,203 ₦) | 1,266 ₦ | + 153% | |
| 1 liter (1 qt.) of whole fat milk | 236 kr (742 ₦) | 1,051 ₦ | - 29% | |
| 12 eggs, large | 720 kr (2,266 ₦) | 808 ₦ | + 181% | |
| 1 kg (2 lb.) of tomatoes | 706 kr (2,221 ₦) | 989 ₦ | + 125% | |
| 500 gr (16 oz.) of local cheese | 1,069 kr (3,363 ₦) | 5,019 ₦ | - 33% | |
| 1 kg (2 lb.) of apples | 270 kr (850 ₦) | 1,236 ₦ | - 31% | |
| 1 kg (2 lb.) of potatoes | 414 kr (1,304 ₦) | 1,012 ₦ | + 29% | |
| 0.5 l (16 oz) domestic beer in the supermarket | 463 kr (1,458 ₦) | 367 ₦ | + 297% | |
| 1 bottle of red table wine, good quality | 2,821 kr (8,879 ₦) | 4,640 ₦ | + 91% | |
| 2 liters of coca-cola | 338 kr (1,064 ₦) | 659 ₦ | + 62% | |
| Bread for 2 people for 1 day | 492 kr (1,549 ₦) | 528 ₦ | + 193% | |
| Housing | + 116% | |||
| Housing in Iceland is 116% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | 334,278 kr (1,052,141 ₦) | 600,977 ₦ | + 75% | |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | 287,466 kr (904,800 ₦) | 344,756 ₦ | + 162% | |
| Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat | 54,829 kr (172,573 ₦) | 21,473 ₦ | + 704% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area | 207,933 kr (654,470 ₦) | 319,785 ₦ | + 105% | |
| Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area | 197,248 kr (620,839 ₦) | 184,708 ₦ | + 236% | |
| Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio | 30,820 kr (97,007 ₦) | 7,649 ₦ | + 1168% | |
| Internet 8 mbps (1 month) | 8,104 kr (25,506 ₦) | 17,828 ₦ | + 43% | |
| 40” flat screen tv | 94,218 kr (296,550 ₦) | 105,832 ₦ | + 180% | |
| Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) | 48,000 kr (151,080 ₦) | 74,342 ₦ | + 103% | |
| Laundry detergent (3 l. ~ 100 oz.) | 3,700 kr (11,646 ₦) | 1,818 ₦ | + 541% | |
| Hourly rate for cleaning help | 6,316 kr (19,879 ₦) | - | - | |
| Clothes | + 162% | |||
| Clothes in Iceland is 162% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| 1 pair of jeans (levis 501 or similar) | 15,379 kr (48,405 ₦) | 9,511 ₦ | + 409% | |
| 1 summer dress in a high street store (zara, h&m or similar retailers) | 11,736 kr (36,938 ₦) | 14,349 ₦ | + 157% | |
| 1 pair of sport shoes (nike, adidas, or equivalent brands) | 27,493 kr (86,535 ₦) | 46,330 ₦ | + 87% | |
| 1 pair of men’s leather business shoes | 26,006 kr (81,855 ₦) | 37,979 ₦ | + 116% | |
| Transportation | + 218% | |||
| Transportation in Iceland is 218% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new | 3,937,100 kr (12,392,032 ₦) | 7,857,240 ₦ | + 58% | |
| 1 liter (1/4 gallon) of gas | 300 kr (945 ₦) | 182 ₦ | + 418% | |
| Monthly ticket public transport | 12,696 kr (39,960 ₦) | 8,326 ₦ | + 380% | |
| Personal Care | + 226% | |||
| Personal Care in Iceland is 226% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands) | 680 kr (2,140 ₦) | 526 ₦ | + 307% | |
| 1 box of antibiotics (12 doses) | 2,068 kr (6,511 ₦) | 1,787 ₦ | + 264% | |
| Short visit to private doctor (15 minutes) | 10,000 kr (31,475 ₦) | 15,152 ₦ | + 108% | |
| 1 box of 32 tampons (tampax, ob, ...) | 950 kr (2,990 ₦) | 1,295 ₦ | + 131% | |
| Deodorant, roll-on (50ml ~ 1.5 oz.) | 1,395 kr (4,392 ₦) | 1,096 ₦ | + 301% | |
| Hair shampoo 2-in-1 (400 ml ~ 12 oz.) | 685 kr (2,157 ₦) | 1,223 ₦ | + 76% | |
| 4 rolls of toilet paper | 638 kr (2,007 ₦) | 604 ₦ | + 232% | |
| Tube of toothpaste | 454 kr (1,430 ₦) | 529 ₦ | + 170% | |
| Standard men's haircut in expat area of the city | 7,203 kr (22,671 ₦) | 1,631 ₦ | + 1290% | |
| Entertainment | + 134% | |||
| Entertainment in Iceland is 134% more expensive than in Nigeria | ||||
| Iceland | Nigeria | Diff | ||
| Basic dinner out for two in neighborhood pub | 4,944 kr (15,560 ₦) | 5,323 ₦ | + 192% | |
| 2 tickets to the movies | 3,278 kr (10,317 ₦) | 5,345 ₦ | + 93% | |
| 2 tickets to the theater (best available seats) | 35,000 kr (110,163 ₦) | 19,661 ₦ | + 460% | |
| Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert | 14,878 kr (46,828 ₦) | 9,858 ₦ | + 375% | |
| 1 cocktail drink in downtown club | 3,005 kr (9,459 ₦) | 970 ₦ | + 875% | |
| Cappuccino in expat area of the city | 616 kr (1,940 ₦) | 596 ₦ | + 225% | |
| 1 beer in neighbourhood pub (500ml or 1pt.) | 1,191 kr (3,750 ₦) | 579 ₦ | + 547% | |
| Ipad wi-fi 128gb | 11,800 kr (37,141 ₦) | 182,671 ₦ | - 80% | |
| 1 min. of prepaid mobile tariff (no discounts or plans) | 20 kr (62 ₦) | 25 ₦ | + 150% | |
| 1 month of gym membership in business district | 7,344 kr (23,116 ₦) | 20,152 ₦ | + 15% | |
| 1 package of marlboro cigarettes | 2,033 kr (6,399 ₦) | 501 ₦ | + 1178% | |
| TOTAL | + 145% | |||
This comparison has some inconsistent or sparse data. It already provides a reliable comparison but it is not bullet-proof. It is based on 367 prices entered by 55 different people.
These prices were last updated on May 11, 2022.
Exchange rate:
3.148
NGN
/
ISK
*
Cost of living in Iceland is 145% more expensive than in Nigeria
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