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

 

[Ugobeauty]

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?

I will go for cost of living as an indicator that the economy is improving. To me Tinubu is far better than Buhari, this does not mean he is getting it alright because he has his lapses,but he is better. Last year and early this year the cost of food reduced greatly, transport was almost at a stand still, then came the war that chattered everything. Until the cost of living is proportional to salaries then I will agree to the fact that inflation and high cost of living is gradually becoming a thing of the past.

 

[Mr.Simon]

I agree to this you said. The cost of living tells us a lot about the economy. While Tinubu is doing better than Buhari in some areas, things like food and transport prices dropped last year, but the war messed it up. Until salaries match up with living costs, I can’t say inflation is really under control. When people can keep up with their expenses, then I'll feel more positive about the economy.

I will go for cost of living as an indicator that the economy is improving. To me Tinubu is far better than Buhari, this does not mean he is getting it alright because he has his lapses,but he is better. Last year and early this year the cost of food reduced greatly, transport was almost at a stand still, then came the war that chattered everything. Until the cost of living is proportional to salaries then I will agree to the fact that inflation and high cost of living is gradually becoming a thing of the past.