Business
Affordable Places to Live as a Remote Worker in Lagos by Dennis Isong
Lagos is not the cheapest city to live in, but with the right information, you can find an affordable place that suits your needs as a remote worker.
If you have ever tried working remotely in Lagos without proper planning, you already know how fast your data subscription disappears.
It’s like your WiFi is fasting and praying for deliverance! And let’s not even talk about the rent—some landlords think they are renting out properties in Banana Island when, in reality, it’s more like “Plantain Village.”
Lagos is a great city for remote workers, but choosing the right area to live in can make all the difference.
You need a place that is affordable, safe, and has stable electricity and internet access. Here are some top locations that fit these criteria without draining your bank account.
1. Ogudu
Ogudu is one of the hidden gems in Lagos. It offers a mix of affordability, security, and accessibility.
The cost of renting a mini-flat (self-contained apartment) in Ogudu ranges from ₦500,000 to ₦1,200,000 per year. The roads are relatively good, and you have easy access to the Third Mainland Bridge, making it easy to get to the Island if needed. Internet service is also strong, with providers like MTN, Airtel, and Spectranet delivering good speed.
2. Abule Egba
Abule Egba has improved significantly in recent years. With the new flyover bridge and better road networks, commuting to other parts of Lagos is much easier.
The area is budget-friendly, with mini-flats going for ₦300,000 to ₦700,000 per year.
There are supermarkets, restaurants, and co-working spaces nearby if you ever need to step out of your home office. Power supply is also fairly stable compared to some other places in Lagos.
3. Gbagada
Gbagada is a sweet spot for remote workers looking for a calm environment that is still close to the business districts.
The rent is slightly higher than in Abule Egba, with mini-flats ranging from ₦700,000 to ₦1,500,000 per year. But the extra cost comes with benefits—better security, less traffic stress, and more reliable power supply. Plus, you get quick access to Ikeja, Victoria Island, and Lekki if work ever demands physical meetings.
4. Ikorodu (Some Parts)
Ikorodu is not just for people who love long-distance travel. Some areas like Agric, Ogolonto, and Ebute are fast developing, with better road networks and growing commercial activities.
You can get a decent mini-flat for ₦250,000 to ₦600,000 per year. The internet connection is not bad if you go with reliable providers. The only downside? If you need to be on the Island regularly, the commute might test your patience.
5. Oshodi-Isolo
Oshodi has changed from the chaotic reputation it had in the past. The Isolo side, in particular, is a solid choice for remote workers. Rent prices are between ₦400,000 and ₦900,000 per year for a mini-flat. There’s good access to transport, markets, and a variety of restaurants. The area is also well-connected to Ikeja and Surulere, making movement easy.
6. Mowe & Ibafo (Bordering Lagos and Ogun State) If you don’t mind living slightly outside Lagos,
Mowe and Ibafo are excellent options. They are along the Lagos-Ibadan expressway, and many professionals are moving there due to lower rent and better housing options. You can get a decent apartment for ₦200,000 to ₦500,000 per year.
The internet connection is getting better, especially with fiber-optic expansion. If you are a remote worker who values peace and space, this might be the best place for you.
Things to Consider Before Choosing a Place
• Power Supply: Lagos has unpredictable electricity, so areas with better supply should be a priority. Places like Gbagada and Ogudu tend to have more stable power. • Internet Connection: Check which provider has the best network in the area.
• Transport & Accessibility: If you need to move around frequently, consider areas with good road networks and less traffic congestion.
• Budget: Don’t just look at rent; consider other costs like service charges, security levies, and water supply.
Lagos is not the cheapest city to live in, but with the right information, you can find an affordable place that suits your needs as a remote worker.
Whether you choose Ogudu for convenience, Abule Egba for affordability, or Mowe for peace and quiet, there is a perfect spot for you.
Just remember, wherever you settle, invest in an inverter or a backup power source—because even in the best areas, NEPA will always remind you that they are in charge!
Dennis Isong and team.
+2348164741041
+2348028667565
+2348164741041
Business
CBN admits it opened domiciliary accounts for PFIPC agency
Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.
File photo : PFIPC agency DG, Adeniyi Adeyemi
The Central Bank of Nigeria had admitted that it opened two foreign-currency domiciliary accounts for the controversial Presidential Foreign Investment Promotion Council (PFIPC).
The apex bank made the confirmation, yesterday, during the public hearing convened at the National Assembly Complex by the House of Representatives Ad-hoc Committee investigating the existence and operations of the PFIPC, chaired by Yusuf Gagdi and inaugurated by Speaker Tajudeen Abbas.
Represented by the Director of its Banking Services Department, Hamisu Ibrahim, the CBN said that the accounts are one in US dollars, the other in British pounds sterling, were opened following a mandate received from the Office of the Accountant-General of the Federation.
He explained that on July 30, 2025, CBN received a mandate dated July 29, 2025 from the Office of the Accountant-General.
“We received the mandate to authorise two accounts, one a US dollar domiciliary account, the other a pound domiciliary account, for the Presidential Economic Advisory Council/Presidential Foreign Investment Promotion Council,” Ibrahim told the committee.
He explained the CBN’s verification process, “The process of opening an account requires a mandate from the Office of the Accountant-General of the Federation.
“Once we receive that mandate, we perform all the necessary verifications to confirm that this mandate is actually coming from that office.
The department that handles the mandate is different from the department that actually does the account opening,” he said.
Nevertheless, he noted that no one came to activate the accounts after they were opened.“We did not receive any correspondence, mandate, signature or mandate cards. We were not introduced to the authorising or approving officers.“Based on that, those accounts remain inactive, with zero balance. There have been no foreign exchange allocations.
Business
Naira Exchange Rates At The Parallel/ Official Market Tuesday, 21 July
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 410 Sell ₦1,415
GREAT BRITISH POUND (GBP) Buy ₦1,890 Sell: ₦1,910
EURO (EUR) Buy ₦1,580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,380.11
GREAT BRITISH POUND (GBP) ₦1,857.35
EURO (EUR) ₦1,575.95
SWISS FRANC (CHF) ₦1,705. 31
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦203.94
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32
SAUDI RIYAL (SAR) ₦367.49
SOUTH AFRICAN RAND (ZAR) ₦83.69
Business
Naira Exchange Rates Monday, 20 July
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 416 Sell ₦1,422
GREAT BRITISH POUND (GBP) Buy ₦1,895 Sell: ₦1,915
EURO (EUR) Buy ₦1,590 Sell ₦1,610
CANADIAN DOLLAR (CAD) Buy ₦1,020 Sell ₦1,080
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370 CHINESE YUAN Buy ₦190 Sell ₦205
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
CBN OFFICIAL EXCHANGE RATES
US DOLLAR (USD) ₦1,380.18
GREAT BRITISH POUND (GBP) ₦1,854.42
EURO (EUR) ₦1,577.00
SWISS FRANC (CHF) ₦1,707.94
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦203.57
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,874. 32
SAUDI RIYAL (SAR) ₦367.48
SOUTH AFRICAN RAND (ZAR) ₦83.29
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