Lagos Ranked 4th Cheapest City To Live In The World

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Lagos Ranked 4th Cheapest City To Live In The World

Lagos State has once again been ranked but as the fourth cheapest city to live in, according to the Economist Intelligence Unit report on global liveability index.

The is after the country’s commercial and economic hub was ranked the third worst city to live in among 140 cities worldwide.

According to the report, Lagos ranks fourth on the cheapest city to live chart and 130 in the global liveability ranking, ahead of Almaty, Caracas and Damasus.

The report, however, warned that cheap doesn’t necessarily mean “always cheerful.”

Lagos Ranked 4th Cheapest City To Live In The World
Lagos Ranked 4th Cheapest City To Live In The World

“Cheap but not always cheerful. As Damascus and Caracas show, a growing number of locations are becoming cheaper because of the impact of political or economic disruption. Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location,” the report said.

“This means that there is a considerable element of risk in some of the world’s cheapest cities. Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey. Put simply, cheaper cities also tend to be less liveable,” it added.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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