Nigeria Moves a Step Higher in World Bank’s Ranking of African Countries With Highest Per Capita

Nigeria Moves a Step Higher in World Bank’s Ranking of African Countries With Highest Per Capita

  • The World has listed Nigeria as one of the countries in Africa where citizens earned more last year
  • The Washington-base lender said Nigeria's per capita income improved by 5 per cent to stand at $5,250 as against $5,000 the same period last year
  • The bank also listed other African countries which either performed better or moved up some places in the ranking

The World Bank says Nigerians got richer in 2021 as their Gross National Income per capita surged by 5 per cent to about $5,250 per capita in 2021 in comparison to the same period of $5,000 in 2020.

Gross National Income is the total income earned by a country’s people and businesses, including economic aid and investment income, irrespective of where it was earned.

World Bank, Nigeria, per capita income
World bank ranks Nigeria high in per capita income Credit: Victor Okhumale / EyeEm
Source: Getty Images

Nigeria move top spot behind Egypt

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According to Nairametrics, it includes income earned from investments overseas by residents of a country, like those living in Nigeria but making overseas income.

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The surge in Nigeria’s Gross National Income per capita is commendable despite the economic challenges Nigerians face.

Nigeria’s Gross National Income is estimated at $1 trillion and comes tops in Africa with the exception of Egypt which has about $1.2 trillion. This is followed by South Africa with 0.99 trillion aggregate.

Seychelles, Mauritius, and Libya maintained the top spots as the wealthiest African countries on a per capita basis in 2021.

The top African countries are listed:

10: Tunisia – $11,270

9: Algeria – $11,750

8: Egypt – $12,910

7: Equatorial Guinea – $13,520

6: South Africa – $14,140

5: Gabon – $14,560

4: Botswana – $16,650

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3: Libya – $23,550

2: Mauritius – 25,530

1: Seychelles – 28,050

New report shows African countries with the highest number of women entrepreneurs reported that the 2021 Mastercard Index of Women Entrepreneurs has ranked Botswana, Uganda and Ghana as the countries with the highest number of female entrepreneurs for the third consecutive year.

Botswana came tops with a 38.5 per cent increase in women who run businesses in the country, followed by Uganda at 38.4 and Ghana at 37.2 per cent.

Business Insider said the index is calculated as a percentage of total business owners. This edition of the ranking spotlights the impact of women businesses on the socio-economic contribution of women entrepreneurs across the globe, including in Africa and it gives insights into the elements propelling and hindering their progress.


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