Is The Nigerian Economy Really Growing Or Are Prices Just Increasing?

[Chinyere]

We keep hearing that the economy is growing, but many Nigerians feel poorer because prices of food, transport, and rent have increased.
So the question is:
Is Nigeria experiencing real economic growth or just inflation?
Because if salaries are not increasing but prices are increasing, people may not feel any economic growth.

What is your personal indicator that the economy is improving — GDP growth or cost of living?

 

[Mr.Simon]

We keep hearing that the economy is growing, but many Nigerians feel poorer because prices of food, transport, and rent have increased.
So the question is:
Is Nigeria experiencing real economic growth or just inflation?
Because if salaries are not increasing but prices are increasing, people may not feel any economic growth.

What is your personal indicator that the economy is improving — GDP growth or cost of living?

GDP growth shows the economy is expanding, but if wages don’t keep up with rising costs, people won’t feel better. I’d say the cost of living is a better indicator. If prices rise faster than wages, that’s a sign growth isn’t benefiting everyone.

 

[Chinyere]

GDP growth shows the economy is expanding, but if wages don’t keep up with rising costs, people won’t feel better. I’d say the cost of living is a better indicator. If prices rise faster than wages, that’s a sign growth isn’t benefiting everyone.

Yeah, we only have growth, no development

 

[Mr.Simon]

Yeah, we only have growth, no development

Which is very bad, look at other country doing well than we, no good healthcare facility, cost of living keep rising. Honestly not actually happy with the way things are going on