Nigeria Gets New Ranking as IMF Shares New List of Poorest Countries by GDP

• Nigeria is ranked as the 12th poorest nation in the world in 2025, with a GDP per capita of $807, according to data from the IMF
• Despite having one of Africa’s largest economies, Nigeria faces ongoing economic struggles due to chronic conflict
• The survey also highlights Africa's underrepresentation accounting for 19% of the world’s population but only 3% of the global economy

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Nigeria was classified as the 12th poorest nation in the world in 2025 based on GDP per capita. This aligns with fresh data released by Visual Capitalist from the International Monetary Fund (IMF).

According to the research made public on Tuesday, Nigeria's GDP per capita stands at $807, placing it among the bottom 15 of the 50 countries examined.

With a GDP per capita of $251, South Sudan is the poorest nation in the world, followed by Yemen, Burundi, Malawi, and the Central African Republic.

Nigeria’s low GDP per capita highlights the ongoing economic struggles faced by a significant portion of its population, despite having one of Africa’s largest economies overall.

“Chronic conflict, fragile institutions, and limited industrial bases continue to suppress income growth in many of them, even as the global economy rebounds after the pandemic,” Visual Capitalist said.

The survey also pointed out that, while Africa makes up 19% of the world's population, it remains underrepresented on the international scene.

“Africa, in particular, is heavily underrepresented on the world stage. It accounts for 19% of the global population but only 3% of the $113 trillion world economy,” Visual Capitalist added.

Despite being the fourth-largest economy in the world by total GDP, India is ranked as the 50th poorest nation on the list, with a GDP per capita of $2,878.

Other African nations such as Madagascar, Sudan, the Democratic Republic of the Congo, Mozambique, and Niger were also included among the world's poorest, according to the survey.

Meanwhile, report earlier stated that the average income per person in Nigeria has reduced again to $835.49 in 2025, dropping people’s living standards.

According to new data from the International Monetary Fund (IMF), the drop represents a 4.73% fall from $877 in 2024, showing the consistent depreciation of household incomes as the cost of living crisis escalates.

Per capita income (PCI) is the average income per person in a specific area or country. It's a key metric in economics and statistics that's used to measure the standard of living and quality of life for a population.

World Bank releases economic growth rate forecast

Legit.ng reported that the World Bank has projected Nigeria's Gross Domestic Product (GDP) growth rate to be 3.5% in 2025 and 3.7% in 2026.

This was revealed in the January 2025 edition of the bank's Global Economic Prospects report, released on Thursday, January 17.

According to the World Bank report, Nigeria's economic growth improved to an estimated 3.3% in 2024, while modest growth is expected in 2025.

Source: Legit.ng