Survey editor Roxana Slavcheva said that security has improved in "several western European cities" and Vienna's top place reflects "a relative return to stability across much of Europe".
The only cities which were scored lower than Lagos on the ranking are Syria and Bangladesh, both cities have been plagued with unrest in recent times. "This is not only because stability indicators have the highest single scores but also because factors defining stability can spread to have an adverse effect on other categories", researchers said in the report.
Osaka, Calgary and Sydney completed the top five in the survey, which the EIU says tends to favour medium-sized cities in wealthy countries, often with relatively low population densities.
In Asia, after Osaka and Tokyo, the third most livable city was Hong Kong, which rose 10 spots in the rankings to 35th overall, followed by Singapore at 37th in the world rankings.
Some of the lowest murder rates in the world previous year were recorded in Austria and Japan. NY (57th), London (48th) and Paris (19th) all benefit from a wealth of recreational activities but also suffer from higher levels of crime, congestion and public transport problems that score against the city's living standards.
London's overall world "liveability" ranking improved in 2018, as it jumped five places up the table.
It was controversially demoted in the ranking past year following the Manchester Arena terror attack that claimed the lives of 22 people.
The EIU said Manchester had shown "resilience in the face of adversity" in the wake of the 2017 Manchester Arena terrorism attack.
Other notables included Paris (19), Hong Kong (35), London (48) and NY (57).
Overall, the survey found that almost half of the cities saw their liveability ranking improve over the past year.