Following its recent 90 percent GDP adjustment, Nigeria is now a solidly middle-income country. With an income per capita of $2,700, it now stands alongside countries like the Philippines and Morocco. Not exactly a rich country per se, but with a GDP of roughly $500 billion, it’s far from an impoverished one in terms of national resources. With donors providing $2 billion a year in aid to Nigeria, this raises the natural question: If Nigeria is significantly wealthier than previously thought, then should we still be providing large-scale assistance there?
CGD Policy Blogs
Last week President Obama’s Global Development Council at long last held its first official, public meeting at the National Press Club in Washington. For those of you who don’t remember (and you’ll be excused for forgetting), President Obama signed an executive order that formally established the Council in February 2012, although the Council’s origin story dates back to the 2010 Presidential Policy Directive on Global Development.
While I was plowing through Morten Jerven’s enlightening book Poor Numbers last year, my mind concentrated on Nigeria. It stayed with Nigeria. At that time, I was consumed with figuring out what on earth was going on with Nigeria’s poverty figures. How was it possible for the country to experience growth in both its GDP and extreme poverty rates at the same time?