Lagos is Africa’s 4th most expensive city—Mercer

&NewLine;<p class&equals;"wp-block-paragraph">Lagos&comma; the commercial nerve centre of Nigeria&NewLine;has emerged the 4<sup>th<&sol;sup> most expensive city on the African Continent&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">This was the revelation of Mercer&&num;8217&semi;s 2019 Cost of&NewLine;Living Survey&comma; a wholly owned subsidiary of Marsh &amp&semi; Mclennan Companies&comma; the&NewLine;leading global professional services firm in the areas of risk&comma; strategy and&NewLine;people&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">The survey made available to OpenLife by African Media&NewLine;Agency&comma; AMA&comma; shows that Lagos&comma; continues to remain attractive for foreign investments&NewLine;despite being one of the most expensive in Africa&period; <&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">Mercer&&num;8217&semi;s 25th annual Cost of Living Survey&nbsp&semi;finds&NewLine;that a number of factors&comma; including currency fluctuations&comma; cost of inflation for&NewLine;goods and services&comma; and volatility in accommodation prices&comma; contribute to the&NewLine;overall cost of expatriate packages for employees on international assignments&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">At the global scale&comma; Lagos is the 25th most&NewLine;expensive city in the world&period; Having moved up 17 places from last year&&num;8217&semi;s ranking&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">&nbsp&semi;Nigeria&&num;8217&semi;s&NewLine;commercial hub is one of Mercer&&num;8217&semi;s top 5 costliest cities in Africa&period; Kinshasa&comma;&NewLine;Dem&period; Rep&period; of Congo &lpar;22&rpar; is in second place&comma; rising fifteen places&period; Libreville&comma;&NewLine;Gabon &lpar;24&rpar; is the next African city on the list&comma; followed by Lagos&comma; Nigeria&NewLine;&lpar;25&rpar;&period; Despite dropping about 20 places&comma; Luanda&comma; Angola &lpar;26&rpar; still remains in&NewLine;fifth place&period;&nbsp&semi;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p class&equals;"wp-block-paragraph">&&num;8220&semi;Each African country has its own unique&NewLine;economy and this is why multinationals need not approach their expatriate&NewLine;packages for Africa with one single strategy&period; Let&&num;8217&semi;s look at it this way&comma; while&NewLine;a city like N&&num;8217&semi;Djamena in Chad has been listed as the 11th most expensive city&NewLine;in the world&comma; whereas Mali comes in at the 124th position in terms of cost of&NewLine;living&comma;&&num;8221&semi; said Yolanda Sedlmaier&comma; Principal Leader &&num;8211&semi; Africa Mobility at&NewLine;Mercer&period;<&sol;p>&NewLine;