If lib1 depend on lib2
say for an example lib2 has 2 classes in it out of which you need to use one class. Just add only the interface reference(Only the .h) not the whole library.
Reason behind when you build a library you are just compiling not running the app. So when the time of compilation. compiler look for interface only not the implementation.At the time of your application compilation both lib1 and lib2 need to be added.