outbid.ng

Methodology

Rankings

Boards sort published figures directly — there is no composite score behind them. Entries with equal values share a competition rank. Filtering to a single state recomputes ranks within that state; a text search keeps each entry’s rank and never reorders results. Sorting uses full precision, so values that display identically can still rank differently.

Sources and periods

Nigerian price, fare and inflation boards are built from NBS release workbooks imported into versioned snapshots. Each snapshot records the source, the reference period, and the retrieval time, and every board displays all three. A failed import keeps the last good snapshot in place rather than removing data.

Currency conversion

Conversions use a cached mid-market rate from ExchangeRate-API. The cache refreshes with each import, so the rate is a recent reference, not a live tick. Pound conversions cross through the US-dollar base (NGN per USD divided by GBP per USD).

Housing comparison

The housing tool compares a US metro’s HUD Fair Market Rent with a selected Nigerian rent record converted to dollars at the imported rate. Nigerian records are a dated proxy — not an official series — so the comparison is an orientation, not a market valuation.

Nigerian records may use different source methods, including median asking rents, market-report averages, or documented planning ranges. The selected record’s source, period, and link are shown beneath the calculator. Figures sourced from Nigeria Property Centre are limited aggregate Market Trends values used with permission and refreshed from fixed aggregate pages during a monthly import.

The Outbid score is computed transparently: ratio = usMonthlyUsd / (ngMonthlyNgn / ngnPerUsd), then score = round(100 × ratio / (ratio + 1)). A score of 50 means equal monthly amounts, about 67 means the US rent is roughly 2× the Nigerian figure, and about 80 means roughly 4×.

What the figures mean

  • State figures are NBS state averages across surveyed outlets, routes or households — not LGA, city, market, or vendor prices.
  • Month-on-month and year-on-year changes compare the same published item across releases.
  • Missing or suppressed source values are excluded rather than shown as zero.