Naira Strength Cuts Cost Of Japa By Up To 19%, Report Finds

The naira’s improved performance against major currencies has reduced the cost of relocating from Nigeria to 21 countries by between 2 per cent and 19 per cent over the past year. The third-quarter State of Japa Report by Japa Calculator says the decline is largely driven by exchange-rate gains.

The report compares financial requirements for Nigerians moving abroad, including visa fees, proof of funds where applicable, one-way airfares from Lagos and three months’ rent at the destination.

Exchange Rate Relief

At the Central Bank of Nigeria official exchange rate, the dollar is about 8 per cent cheaper against the naira than a year ago. The pound has also fallen by 8 per cent, while the euro is down 11 per cent. This has lowered the naira equivalent of major relocation expenses denominated in foreign currencies.

A typical relocation to Canada is now estimated at about N22.1 million, compared with N24.1 million in 2025. South Africa remains the cheapest of the 21 destinations assessed, with an estimated cost of N2.8 million through its Critical Skills Visa route. Turkey recorded the biggest reduction, with relocation expenses falling by 19 per cent year on year.

Visa Fees Still A Burden

The report warned that currency appreciation does not automatically make immigration cheaper everywhere. Some countries have raised visa charges. Australia increased skilled and student visa fees by about 25 per cent from July 1, 2026. The Skilled Independent visa (subclass 189) rose from A$4,910 to A$6,135, while the student visa application fee for most applicants increased from A$2,000 to A$2,500.

Canada Tops Interest

Japa Calculator recorded 1,645 relocation cost calculations between July and September 2026, an 18 per cent increase from 1,393 in the previous quarter. Since launch, the platform has recorded 4,569 calculations.

Canada was the most researched destination, accounting for 21 per cent of all calculations and moving ahead of the United Kingdom and Germany. The United States, previously top, dropped to fifth with 7 per cent. Australia also accounted for 7 per cent. Rwanda, Cape Verde and Ireland entered the top 10 destinations attracting interest.

The report linked the changing preferences to evolving immigration policies and rising application costs in some traditional destinations. It stressed that calculations represent interest in relocation destinations, not actual migration or completed applications.

It also noted that although moving abroad has become less expensive in naira terms, underlying costs in foreign currencies have not necessarily declined. The apparent savings largely reflect exchange-rate movements, not reductions in international living costs or immigration expenses.

For Nigerians planning to japa, the naira’s strength offers some relief on foreign-currency bills. But visa fee increases in countries like Australia mean the final cost depends on both exchange rates and immigration policy.