House rent in Nigeria is one of the cheapest in the world if compared especially to the western world. The amount mentioned at 130k is less than 200 dollars for a room in a year, Imagine. The cost of building the same house is high and owners are not likely to breakeven on the investement in 30 years, so my conclusion is the purchasing capacity of Nigerians in low. Let everyone including students have abillity to work even just 5 hours daily and earn 50k in a month, it wont be difficult to pay the 130k at the end of the year.
Just as you think Nigerians house rent is the cheapest in the World, so the currency naira (#) is the cheapest in values.
You evaluated #130K to $200, according to you, #130K is cheap but how possible and flexible is it to be obtained of achieved for the common.
The cost of house rent is not the cheapest in the world; what proof does he have? In the US, some people pay $3500 monthly, not yearly, for rent, and that is a lot of money there because most people do not earn much more there. And this is because of the location—let me say Texas or Kentucky. If you want to live in the heart of a state like New York, California, or Miami, Florida, you will be paying way more for rent.
Generally, house rents are calculated based on the location you are leaving. In Nigeria, the cost of rent in Port Harcourt, Lagos, and Abuja is different from other places. I have lived in these places, and that is why I am using them as instances. If you live in a place with strong security, steady electricity, and a well-structured environment,. Your rent will be higher compared to those places lacking all these essentials. Just like in Lagos, Main Land and Island are totally different in rent prices.