With a Gross Domestic Product ( GDP) that is around US$509 billion, Nigeria is now regarded as Africas largest economy. Whilst I am not an economist, I have always been reluctant to measure a countrys level of socio-economic development by simply referring to its GDP. I am more inclined to using per capita income as a more accurate and meaningful measure of a countrys level of socio-economic development. What is the per capita income of the average Nigerian? Put simply, is the average Nigerian now living out of poverty and deprivation? I challenge economists and financial experts out there to unpack for us the real implications of Nigeria becoming Africas largest economy after toppling South Africa.
Posted on: Mon, 07 Apr 2014 04:14:01 +0000
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