Nigeria’s GDP Per Capita Shrinks to $835, IMF Report Shows

Nigeria’s GDP per capita has dropped to $835, according to the latest report from the International Monetary Fund (IMF), underscoring the growing economic pressures facing the country’s population.

The decline reflects slow economic growth relative to rapid population expansion, a trend that has exacerbated poverty levels in Africa’s largest economy. The IMF’s findings highlight structural weaknesses, including low productivity, limited job creation, and persistent inflation, which have reduced the purchasing power of millions of Nigerians.

Economic analysts warn that without significant policy adjustments, the shrinking GDP per capita could further widen income inequality and strain public resources. The IMF has urged Nigeria to implement measures that boost productivity, diversify revenue sources, and enhance social protection programs.

Nigeria has faced economic headwinds in recent years, including a weak currency, high debt servicing costs, and declining oil revenues. The government has outlined plans to drive economic reforms, but execution remains a challenge amid political and fiscal constraints.

Despite these difficulties, officials remain optimistic about long-term prospects, citing investments in infrastructure and digital transformation as potential growth drivers.