Korede Abdullah in Lagos
A leading rating agency by the name FocusEconomics, has ranked Nigeria in its latest edition, as the 20th poorest country in the world.
The forecast comes as the country struggles with poverty and economic development.
The report highlights the significant challenges that Nigeria must overcome in order to improve the economic well-being of its citizens.
Sub-Saharan Africa dominates the list, with 19 out of the 20 economies with the lowest GDP per capita in 2025 hailing from the region, with only Afghanistan, a conflict-ridden and isolated nation, being the sole non-African country on the list.
This ranking is based on the country’s GDP per capita, a widely used indicator of a nation’s standard of living, and highlights the significant challenges that Nigeria must overcome in order to improve the economic well-being of its citizens.
Compared to previous years, Nigeria’s ranking has not changed significantly. In 2022, the country was ranked 22nd poorest, and in 2023, it was ranked 21st. This stagnation is a cause for concern, as it indicates that the country’s efforts to reduce poverty and improve economic growth have been slow.
Experts attribute Nigeria’s poverty to a combination of factors, including corruption, inadequate infrastructure, and a lack of economic diversification.
According to Dr Mojeed Saliu, an economist and Ekiti State University lecturer who spoke with our correspondent on Friday, to address the issue of poverty, “the Nigerian government must implement policies aimed at promoting economic diversification, improving infrastructure, and reducing corruption.”
The don added that “investing in education and healthcare can help to improve the country’s human capital and increase its competitiveness in the global economy.”
With a population of over 200 million people, Nigeria’s ranking is a cause for concern, particularly given the country’s vast natural resources and potential for economic growth.
