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🏠 Cost of Living for Banana Island

Total monthly cost for family of 4 (mid-tier lifestyle)

₦3,830,000/month
₦45,960,000/year
1

Where you dey live?

2

Your household

Household size
Lifestyle tier
3

Your commute

Work location
Commute mode
4

Domestic staff (optional)(optional)

Your monthly cost of living for Banana Island
₦3.86M
₦46,276,800/year
= 55.1× di minimum wage (₦70,000)
= 11.4× di national average salary (₦339,000)
🏠 Rent
₦3,125,000
81%
🍚 Food
₦300,000
8%
⚡ Power
₦200,000
5%
🚌 Transport
₦26,400
1%
👩‍👧 Domestic Staff
₦190,000
5%
📱 Internet/Data
₦15,000
0%
TOTAL
₦3,856,400
100%

🆚 Compare with another area

Compare with:
Banana Island
₦3.86M
/month
Yaba
₦916K
/month
Savings if you stay for Yaba — Annual difference: ₦35.3M
Lagos.Cool Editorial
4 June 2026 · 2 min read

Cost of Living for Banana Island

For ₦3.83M/month (₦46M/year), Banana Island no be neighborhood — na lifestyle statement. Rent na ₦2.5M-₦3.75M/month. Silver lining: water and power na estate-managed, so no generator or tanker wahala.

🔗 Related guide

🏠 Rent for Banana Island→💧 Water for Banana Island→🚌 Commute from Banana Island→👩‍🍼 Domestic staff price for Banana Island→

FAQ

Family of 4 wey live for Banana Island for mid-tier lifestyle dey spend around ₦3,830,000/month (₦45,960,000/year).