The “japa” dream is on almost every young Nigerian’s mind. Scrolling through Instagram stories of friends enjoying autumn in Toronto or a summer day in London, it’s easy to get caught up in the excitement. But behind every successful relocation story is a mountain of expenses that social media rarely shows. The single biggest mistake people make is underestimating the true cost, thinking that the Proof of Funds (POF) is the final boss. It’s not. It’s just the beginning.
This guide provides a comprehensive breakdown of all the costs associated with relocating from Nigeria, from the initial application phase to your first few months abroad. You'll learn how to budget accurately, avoid common financial pitfalls, and create a solid plan to fund your move without unnecessary stress.
This is the initial phase where you spend money while still physically in Nigeria. These costs are numerous, often non-refundable, and can add up to millions of Naira before you even get a visa. Many people get stuck here, running out of funds before they even have a clear path forward.
Here’s a realistic breakdown of expenses you'll face in Nigeria:
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This phase covers the huge, one-time expenses required to get you and your belongings from Nigeria to your new country. This is where the famous "Proof of Funds" comes in, but it's crucial to understand it's not the only cost here. Mismanaging this stage can lead to serious financial trouble upon arrival.
These are the make-or-break expenses you'll face upon arrival before you get your first paycheck or student job. This is where your separate "settling-in fund" comes into play. Running out of money during this period is the fastest way to experience a different kind of sapa, but this time, in winter.
Having a well-planned budget is critical. You can use a smart tool like the TrustAm app to create a detailed 'Japa Settling-In' budget, tracking every dollar and pound you spend to ensure your funds last until you start earning locally. This is a crucial step that many overlook in their excitement.
Funding your relocation requires a strategic, multi-pronged approach that goes beyond just saving. It involves aggressive financial planning, income generation, and making smart decisions about your assets. You need to start this process at least 18-24 months before your planned departure.
Once you've successfully moved, your financial life becomes cross-border. It's vital to have a system to manage your remaining ties to Nigeria, whether it's supporting family, managing investments, or planning for an eventual return.
Planning a big move like japa requires meticulous financial tracking. Use TrustAm's AI-powered budgeting tools to build your Japa fund and manage your cross-border finances seamlessly from one app.
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As of 2026, a single student applicant needs to show proof of funds of CAD $20,635, which is over ₦24 million. Including pre-departure costs, flights, and a settling-in fund, a realistic total budget to aim for would be between ₦30 million and ₦40 million.
No, they are completely different. Proof of Funds (POF) is the money you show in your bank account to the embassy to get your visa. Your spending money, or "settling-in fund," is a separate, accessible amount you need for your first 2-3 months abroad to cover rent, food, and other initial expenses before you start earning an income.
Saving on a low income requires extreme discipline and income diversification. Start by creating a strict budget using an app like TrustAm, cutting all non-essential spending. Focus on aggressively growing your income through side hustles, freelancing, or acquiring high-demand skills. Pooling resources with family (ajo/esusu) can also be a viable strategy.
The biggest hidden cost is often the initial accommodation payment. Most people budget for one month's rent but are surprised by the requirement to pay a security deposit (often equal to another month's rent) upfront. For a £1,000/month apartment, that's a £2,000 (~₦4.8M) immediate expense that can cripple your budget if unplanned for.
While some people use secured loans (against property) or family loans, it is extremely risky. Most embassies scrutinize bank statements for large, recent deposits and may reject an application if the source of funds looks suspicious or is clearly a short-term loan. It's always best to show a consistent history of savings over several months.
Sources verified as of March 2026. For the most current data, visit the linked institutions directly. TrustAm is a financial services company — some links in this article may direct to our products or services.
As of 2026, a single student applicant needs to show proof of funds of CAD $20,635, which is over ₦24 million. Including pre-departure costs, flights, and a settling-in fund, a realistic total budget to aim for would be between ₦30 million and ₦40 million.
No, they are completely different. Proof of Funds (POF) is the money you show in your bank account to the embassy to get your visa. Your spending money, or "settling-in fund," is a separate, accessible amount you need for your first 2-3 months abroad to cover rent, food, and other initial expenses before you start earning an income.
Saving on a low income requires extreme discipline and income diversification. Start by creating a strict budget using an app like TrustAm, cutting all non-essential spending. Focus on aggressively growing your income through side hustles, freelancing, or acquiring high-demand skills. Pooling resources with family (ajo/esusu) can also be a viable strategy.
The biggest hidden cost is often the initial accommodation payment. Most people budget for one month's rent but are surprised by the requirement to pay a security deposit (often equal to another month's rent) upfront. For a £1,000/month apartment, that's a £2,000 (~₦4.8M) immediate expense that can cripple your budget if unplanned for.
While some people use secured loans (against property) or family loans, it is extremely risky. Most embassies scrutinize bank statements for large, recent deposits and may reject an application if the source of funds looks suspicious or is clearly a short-term loan. It's always best to show a consistent history of savings over several months.
Founder & CEO of TrustAm. Building Nigeria's smartest money app — AI-powered budgeting, instant P2P transfers, and financial advice in one place.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always consult a qualified financial professional before making major financial decisions.
Disclosure: This article is published by TrustAm, a financial services company. Some links in this article may direct to our own products.
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