NIGERIA RANKS AMONG WORLD’S 60 LOWEST ECONOMIES BY GDP PER CAPITAL

Nigeria has been listed among the 60 countries with the lowest GDP per capita based on purchasing power parity in a 2026 ranking published by Global Finance magazine.

The ranking places Nigeria 56th among the world's 60 poorest countries when measured by GDP per capita at purchasing power parity, highlighting the continuing gap between the size of the country's economy and the economic conditions experienced on a per-person basis.

GDP per capita at purchasing power parity is used to compare the economic output and purchasing power of people across different countries by taking differences in the cost of goods and services into account.

The ranking is particularly significant for Nigeria because the country remains one of Africa's largest economies in terms of total economic output. However, its large population means that economic output is spread across a much bigger number of people, resulting in a considerably lower figure when calculated on a per-capita basis.

The 2026 data also shows that Nigeria's GDP per capital at PPP is estimated at about $9,994. This places the country below a number of African economies with smaller overall GDPs but higher economic output per person.

Several other African countries also feature among the world's lowest-ranked economies, reinforcing the continent's strong presence on the lower end of global income and purchasing-power comparisons.

The figures highlight the difference between measuring a country's economic size through its overall GDP and assessing economic performance through the amount generated per person.

Nigeria's position has renewed attention on the country's economic challenges, particularly the need to translate overall economic growth into improved living standards for its rapidly growing population.

Economic analysts have continued to emphasise the importance of productivity, job creation, investment, infrastructure development and stronger purchasing power in improving the welfare of citizens.

Although Nigeria's economy is projected to grow in 2026, the benefits of economic expansion remain an important concern because increases in national output do not automatically translate into higher incomes or better living conditions for individual citizens.

The latest ranking therefore provides another indication of the economic pressures facing Nigeria and many other developing countries, while also highlighting the importance of policies that can raise productivity and income levels across the population.

The figures should also be interpreted within the limitations of GDP per capita, which is an economic indicator rather than a direct measurement of household wealth or individual living standards.

Nevertheless, the ranking underscores the challenge facing Nigeria as it seeks to achieve stronger economic growth while ensuring that a greater share of the country's economic progress translates into improved welfare for its citizens.