ABUJA, Nigeria – The International Monetary Fund (IMF) has ranked Nigeria as the 12th poorest country in the world by GDP per capita, pegging the figure at $807 in 2025. This is despite Nigeria being Africa’s fourth-largest economy by overall GDP.
The new data highlights the widening economic gap in the country, where millions face worsening poverty, inflation, and limited access to essential services.
A Sharp Drop in Personal Income
According to the IMF, Nigeria’s GDP per capita has fallen by over 70% in the last decade—from about $3,022 in 2014 to $807 in 2025. This places Nigeria among the world’s poorest nations by per-person income, behind countries like Liberia, Sierra Leone, and Nepal.
“Nigeria’s economy is growing on paper, but shrinking in the hands of its citizens,” a Lagos-based economist told Daily Observer.
Why the Decline?
Key drivers of the downturn include:
Naira devaluation
High inflation rates
Rapid population growth
Dependence on oil exports
Weak infrastructure and institutions
These factors have left millions of Nigerians behind, despite macroeconomic progress.
⚖️ Inequality Deepens
The IMF report also draws attention to rising income inequality in Nigeria. While the country’s economic elite continues to thrive, over 60% of the population lives in multidimensional poverty, particularly in rural areas.
Nigeria’s GDP per capita remains far below its African counterparts:
Country GDP per Capita (2025)
South Africa $6,517
Morocco $4,470
Egypt $3,160
Kenya $2,186
Nigeria $807
Global Context
The global average GDP per capita in 2025 is $14,213. Nigeria’s figure is over 17 times lower, underlining the urgent need for inclusive economic reforms.
What’s Next for Nigeria?
The IMF projects a slow recovery, with Nigeria’s GDP per capita expected to rise to $940 by 2026 and possibly exceed $1,000 by 2028.
To reverse the trend, the Fund recommends:
Stabilizing the naira
Diversifying the economy away from oil
Investing in education, healthcare, and infrastructure
Strengthening governance and transparency
Public Reaction: The ranking has sparked widespread concern among citizens, civil society groups, and economists, who are calling on the government to take urgent steps to address the root causes of poverty.