GDP has different metrics. Our politicians will be fast to sell us the value for Total GDP, then tag us the largest economy in Africa.
Remember that we have the population and free crude oil. Total GDP rarely account for the productive input of individual.
GDP Per Capital Income is another index
Total GDP – Total Gross Domestic Product as the name implies shows the volume of production for a country.
With the population of Nigeria ranking 7th or 8th, the GDP cannot be lower realistically; coupled without FREE oil.
The question is? Where is the money going? In the hand of few coupled with poor governance and corruption.
Then we come to
GDP Per Capital Income… This is the average income per citizen. We all do know that citizens welfare is poor in Nigeria.
Few earn insanely high while most are poor.
Per Capital Income talks about the average productivity and welfare of the citizens.
We cannot rejoice with a high GDP growth until we know what the Per Capital Income is.
For per capital income Seychelles has the highest and Nigeria one of the lowest.
Politicians will show you what the Total GDP is not the GDP Per Capital Income index.