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Lagos named among top 10 African cities with highest cost of living

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Lagos, the Nigeria’s commercial capital city has emerged as number six among the top 10 African cities with the highest cost of living.

This was according to a recent report published by the American asset management firm, Mercer using the high inflation as one of the indicators that have compelled the high cost of living.

Based on the Mercer’s research, Hong Kong tops 2022 cost of living city ranking, followed by Zurich and Geneva in Switzerland, while Ankara in Turkey closes the ranking at the 227th spot.

According to Mercer, the recent return of high inflation across the globe, determine employees are now reevaluating their salary potentials, work-life balance, and even where they select to live at the expense of employers competing for the top global talent.

In Africa, the Bangui in Central African Republic comes first as the city with the highest cost of living. Followed by Bangui are Libreville (Gabon), Victoria (Seychelles), Djibouti (Djibouti) and Kinshasa (Democratic Republic of Congo) as second, third, fourth and fifth respectively.

Lagos (Nigeria) comes sixth in the rank. The seventh, eighth, ninth and tenth are while Luanda (Angola), Dakar (Senegal), Abidjan (Côte d’Ivoire) and Brazzaville (Republic of Congo) respectively.

In the report, the amount of money needed to pay for day-to-day expenses like housing and food varies significantly from city to city. And some cities, like Lagos, Nigeria, are known as costly places to live.

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