Should Nigeria Pursue a $1 Trillion Economy if Living Costs Rise?

I do not think Nigeria should treat a $1 trillion economy as an automatic success. With a population of about 220 million, that would amount to roughly $4,500 GDP per person annually. I worry that higher incomes without matching productivity, housing supply and living standards could push up everyday costs. Iran, with GDP per person of roughly $4,000, is one example where rent in major cities can be expensive relative to income. If Nigeria reaches a similar income level without solving housing shortages, rent could become unaffordable even in smaller cities. My view is that GDP growth should not be pursued in isolation. Nigeria should focus on real purchasing power, affordable housing, quality public services, infrastructure and a higher Human Development Index. A low cost of living can attract investment, but it must not depend on workers remaining poorly paid. The key question is not whether Nigeria reaches $1 trillion in GDP, but whether Nigerians can earn decent wages and still afford housing, food, transport and other essentials.

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