One of the most common questions Nigerians ask before relocating is: "How much money do I need to save?" The answer depends on your destination, visa type, and whether you're going alone or with family. This comprehensive guide breaks down all the costs you need to budget for.
The total amount includes pre-departure costs (visa, tests, documents), travel costs, and settlement costs (accommodation deposit, living expenses until first salary). Planning for all three phases is essential.
Pre-Departure Costs
These are expenses before you leave Nigeria:
Documentation & Tests
- IELTS/English test: ₦120,000 - ₦150,000
- Credential evaluation (WES/NARIC): ₦100,000 - ₦200,000
- TB test: ₦40,000 - ₦60,000
- Police clearance: ₦5,000 - ₦10,000
- Passport (new/renewal): ₦35,000 - ₦70,000
- Medical exams: ₦50,000 - ₦100,000
- Document translations/notarization: ₦20,000 - ₦50,000
Visa Application Costs
- UK Skilled Worker: £284 + IHS (exempt for healthcare)
- Canada Express Entry: CAD $1,365 (including PR fee)
- Germany Opportunity Card: €75
- Australia Skilled: AUD $4,640
- Biometrics (all): ₦80,000 - ₦100,000
Country-Specific Total Budgets
United Kingdom (Work Visa)
| Category | Amount (₦) |
|---|---|
| Pre-departure costs | ₦400,000 - ₦600,000 |
| Flight (one-way) | ₦500,000 - ₦900,000 |
| Settlement (2 months) | ₦2,000,000 - ₦4,000,000 |
| TOTAL | ₦3,000,000 - ₦5,500,000 |
Note: Many UK employers cover visa costs and provide initial accommodation support, reducing your needs significantly.
Canada (Express Entry)
| Category | Amount (₦) |
|---|---|
| Pre-departure costs | ₦600,000 - ₦900,000 |
| Proof of funds (CAD $14,690) | ₦16,000,000+ |
| Flight | ₦800,000 - ₦1,500,000 |
| Settlement (3 months) | ₦4,000,000 - ₦6,000,000 |
| TOTAL | ₦20,000,000 - ₦25,000,000+ |
Note: Proof of funds must be shown but you keep the money. However, you'll need significant savings for the Canadian winter and job search period.
Germany (Opportunity Card)
| Category | Amount (₦) |
|---|---|
| Pre-departure costs | ₦300,000 - ₦500,000 |
| Blocked account (€12,324) | ₦20,000,000+ |
| Flight | ₦400,000 - ₦700,000 |
| Additional settlement costs | ₦2,000,000 - ₦4,000,000 |
| TOTAL | ₦23,000,000 - ₦28,000,000+ |
Note: The blocked account releases funds monthly, but you need extra for deposits and unexpected costs.
Tips to Reduce Costs
- UK: Target employers who cover visa costs and provide housing
- Start saving early: Begin 12-24 months before planned departure
- Room share initially: Much cheaper than solo accommodation
- Ship items: Cheaper than excess baggage for heavy items
- Book flights early: Prices are lower 2-3 months ahead
- Join community groups: Connect with Nigerians who can help you settle
Settlement Expenses Breakdown
What you'll spend in your first 1-2 months:
- Rent deposit: Usually 1-3 months rent upfront
- First month rent: Varies by city and accommodation type
- Groceries and essentials: Setting up your kitchen and home
- Transport: Getting around while you settle
- Phone/SIM card: New local number
- Warm clothing: If moving to cold climate (big expense!)
- Emergency fund: Always have a buffer
Creating Your Savings Plan
- Calculate your total: Add up all costs for your specific destination
- Set a timeline: 12-24 months is realistic for most
- Monthly target: Divide total by months available
- Automate savings: Set up standing order to savings account
- Cut expenses: Reduce unnecessary spending during savings period
- Increase income: Consider side hustles to accelerate savings
Conclusion
Relocating from Nigeria requires significant financial preparation. The UK can be more affordable if employers cover costs, while Canada and Germany require substantial upfront savings for proof of funds. Start saving early, be realistic about timelines, and remember that proper financial preparation leads to a smoother transition.
Don't rush the process just because you're eager to leave. Being financially prepared means you can focus on settling in and building your new life without money stress.