pip install InstagramApi

# Import the module
import InstagramAPI

# Provide your username and password
USERNAME = "Your_username_goes_here"
PASSWORD = "Your_password_goes_here"

InstagramAPI = InstagramAPI(USERNAME, PASSWORD)
InstagramAPI = InstagramAPI.login()

InstagramAPI.getSelfUsersFollowing()
my_followings = InstagramAPI.LastJson['users'] # Get list of users whom you are following

for user in my_followings:
    user_id = user['pk']
    InstagramAPI.getUserFollowers(user_id) # Get list of followers of a user whom you are following
    user_followers_list = InstagramAPI.LastJson # List of followers of user with user_id = pk
    print user_followers_list
InstagramAPI.logout()