Cost Of Living In Ondo State

Ondo State, located in the southwestern part of Nigeria, is a state rich in natural resources, culture, and history. Akure, the state capital, is an important commercial and administrative hub. The state is known for its agricultural production, particularly cocoa, rubber, and timber, and is also a key oil-producing state. The cost of living in Ondo State is influenced by various factors, including housing, transportation, food, utilities, healthcare, education, and leisure. This blog post provides a detailed analysis of the cost of living in Ondo State, offering insights into the expenses residents and visitors should expect.

1. Housing and Accommodation Costs

Housing is a significant component of the cost of living in Ondo State. The state offers a variety of housing options, ranging from high-end accommodations in the capital city to more affordable options in rural areas.

• High-End Housing: In prime areas of Akure, such as Alagbaka, Ijapo Estate, and Oba-Ile, rental prices for a two- or three-bedroom apartment range from ₦600,000 to ₦1.5 million per year. These areas are known for their well-developed infrastructure, security, and proximity to government offices, schools, and shopping centers. For those looking for more luxurious properties, such as duplexes, the rent can go as high as ₦2 million to ₦3 million annually.

• Mid-Range Housing: For residents looking for more affordable housing options in areas like Oda Road, FUTA (Federal University of Technology, Akure) South Gate, and Isikan, rent for a two-bedroom apartment typically falls between ₦300,000 and ₦600,000 per year. These areas are popular with middle-income earners, students, and professionals, offering a good balance of affordability and accessibility to essential services.

• Low-Cost Housing: In more suburban or rural areas of Ondo State, such as Owo, Ondo Town, and Idanre, housing is significantly more affordable. Rent for a two-bedroom apartment in these areas ranges from ₦150,000 to ₦300,000 annually. These locations are ideal for low-income earners or those looking to save on rent, though they may have limited access to modern amenities and infrastructure.

For individuals looking to buy land or property in Ondo State, prices vary widely depending on the location. In Akure and other urban centers, a plot of land can cost anywhere from ₦1.5 million to ₦10 million, depending on the area and proximity to development. In rural areas, land prices can be as low as ₦500,000 to ₦2 million per plot.

2. Transportation Costs

Transportation in Ondo State is relatively affordable, with a variety of options available, including public transport and private vehicle use. The state’s road network is well-connected, especially within Akure and other major towns.

• Public Transport: The most commonly used modes of transportation include buses, taxis, and motorcycles (known as "Okada"). A bus ride within Akure typically costs between ₦50 and ₦200, depending on the distance. For shorter distances, Okadas are commonly used, and fares range from ₦50 to ₦150. Taxis are also available, with fares ranging from ₦200 to ₦500 for longer trips within the city.

• Private Transport: For those who own cars, the cost of fuel is an important factor. With petrol prices averaging ₦617 per liter, maintaining a personal vehicle can be quite costly. A full tank of fuel for a small car can cost between ₦6,000 and ₦10,000, depending on the car’s fuel capacity. In addition, there are other costs associated with private transport, such as vehicle maintenance and insurance.

• Interstate Transport: Ondo State is well-connected to neighboring states, and interstate travel is affordable. A trip from Akure to Lagos typically costs between ₦3,000 and ₦5,000 by bus, while a trip to Abuja costs between ₦7,000 and ₦10,000. Several transport companies operate within the state, providing regular services to major cities across Nigeria.

3. Food and Grocery Prices

Food is one of the areas where Ondo State offers affordability, particularly when shopping in local markets. The state’s agricultural base means that fresh produce is readily available, contributing to lower food costs.

• Local Markets: Basic food items such as rice, beans, yam, and garri are available at reasonable prices in local markets across the state. A bag of rice costs between ₦35,000 and ₦40,000, while a tuber of yam sells for ₦500 to ₦1,000, depending on the size. Garri, a staple food in the state, costs about ₦300 to ₦500 per kilogram. Fresh vegetables, fruits, and fish are also readily available, with prices fluctuating based on seasonal factors.

• Supermarkets: For those who prefer shopping at supermarkets, the prices of packaged and branded goods tend to be higher. A liter of vegetable oil costs between ₦1,500 and ₦2,000, while a carton of noodles is priced between ₦3,000 and ₦4,000. Imported goods, including snacks and beverages, are also more expensive in supermarkets compared to local markets.

• Dining Out: Eating out in Ondo State is relatively affordable, especially in local restaurants (bukas). A typical meal at a local eatery costs between ₦300 and ₦500. In mid-range restaurants, meals are priced between ₦1,000 and ₦2,500. For a more upscale dining experience, such as at hotels or high-end restaurants in Akure, a meal can cost between ₦3,000 and ₦5,000 per person.

4. Utilities and Services

The cost of utilities in Ondo State is similar to other parts of Nigeria, with electricity and water being the most significant expenses.

• Electricity: Like most states in Nigeria, Ondo State faces challenges with consistent power supply. The electricity tariff is in line with the national average, with residents paying between ₦25 and ₦35 per kWh. Many households and businesses supplement power outages with generators. Monthly fuel costs for generators can range from ₦5,000 to ₦20,000, depending on usage.

• Water Supply: Access to clean water is a challenge in some parts of the state. In urban areas like Akure, many homes rely on boreholes or water delivery services. The cost of water delivery ranges from ₦2,000 to ₦5,000 per month, depending on the household’s water usage.

• Internet and Communication: The cost of internet services in Ondo State is relatively affordable. Mobile data plans from major providers like MTN, Airtel, and Glo cost between ₦3,000 and ₦5,000 for a monthly data package of 10GB. For those who require more data, broadband services are available in Akure and some other towns, with prices ranging from ₦10,000 to ₦20,000 per month for unlimited data.

5. Education Costs

Ondo State is home to several primary, secondary, and tertiary educational institutions, including the Federal University of Technology, Akure (FUTA) and Adekunle Ajasin University. The cost of education varies depending on the type of institution.

• Primary and Secondary Education: Public primary and secondary schools in Ondo State are relatively affordable, with fees ranging from ₦5,000 to ₦20,000 per term. Private schools, however, charge significantly higher fees, with tuition ranging from ₦50,000 to ₦200,000 per term, depending on the reputation and facilities of the school.

• Tertiary Education: For tertiary education, FUTA is one of the most affordable institutions in the state, with tuition fees ranging from ₦30,000 to ₦70,000 per year for undergraduate programs. Private universities in Ondo, such as Elizade University, are more expensive, with annual tuition fees ranging from ₦500,000 to ₦1.5 million.

6. Healthcare Costs

Healthcare in Ondo State is available through both public and private providers. The cost of healthcare services varies depending on the type of facility.

• Public Healthcare: Public hospitals in Ondo State offer affordable healthcare services, with consultation fees as low as ₦500 to ₦1,000. However, the quality of services in public hospitals is often hindered by limited resources and long waiting times.

• Private Healthcare: Private hospitals and clinics provide better quality healthcare services, but at a higher cost. A consultation in a private hospital typically costs between ₦2,000 and ₦5,000, with additional charges for medications, tests, and treatments.

7. Entertainment and Leisure

Ondo State offers a variety of entertainment and recreational activities, from cinemas to cultural events.

• Cinemas and Events: There are a few cinemas in Akure, where movie tickets cost between ₦1,000 and ₦2,000. Ondo State also hosts several cultural events and festivals, such as the annual Ekimogun Day and Mare Festival, which showcase the rich heritage of the state. These events are usually free or charge a nominal entry fee.

• Outdoor Activities: Ondo State is home to several tourist attractions, including the Idanre Hills, Owo Museum, and Ebomi Lake. Visiting these sites is relatively affordable, with entrance fees ranging from ₦500 to ₦2,000, depending on the location.

Conclusion

The cost of living in Ondo State is moderate compared to other states in Nigeria.