Compared with the developed countries, most things are cheaper here. Food is cheap, Labour is abundantly available and cheap. Land is cheap. Clothing is cheap. Housing is cheap. And on the dark side, even human life is cheap.
Then why are we poorer?
The problem lies in our average. The average Nigerian is much less educated. The average Nigerian cares little about sustainable development and inter-generational knowledge transfer. The average Nigerian has fewer options, material and non-material. The average Nigerian is much less economically productive. The average Nigerian is too busy trying to survive.
In the beginning, when the whole world was a jungle and everyone was part of that jungle. We all started at the same place and with the same state (conditions). Over time, some people recognized that they were part of something bigger. A race. One that could be improved by inter-generational knowledge transfer. So they started living more deliberately, trying to improve things and document those improvements. Each generation found better ways of doing things and passed the knowledge to the next generation. They formed institutions of learning. The brilliant people were allowed to use their brilliance for everyone's betterment. They formed systems that ensured people lived above some basic standard. No longer as people in a jungle. They formed organized cities and towns. They were deliberate in their actions and pursued sustainable development.
Somehow, some other set of people didn't get the memo. They kept the jungle status. They were slow to start and less deliberate in their actions. They do more of verbatim copy and paste. They did not let the brilliant minds rise nor get a voice. The only inter-generation transfer they engaged in was family real estate.
So, yes. Things are cheaper. The price here is close to that of the jungle where land is free, clothing is ridiculously cheap, housing is free and a human being is just a meal. No wonder our wealth is tied to natural resources and our rich men are the rent collectors. We are just as rich as we have made ourselves. Jungle rich.