With a 400 billion dollar GDP, Nigeria is regarded as the biggest economy in Africa. Yet, it is the poverty capital of the world as 98 million citizens are living in multidimensional poverty. So the question remains a mystery if Nigeria is actually poor....
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Yes, Nigeria is poor. This is because there are many factors considered before a country is adjudged to be poor or rich. It is not just measured by the GDP. The value of the GDP is not a perfect indicator of growth and development. Many other factors are also considered. The level of infrastructural development, standard of living of the people in the country, the poverty index, per capital income, and some other factors. To have a clearer picture of this, India has a GDP about 5 times that of Nigeria but they are still a very poor country. This is a clear indication that high GDP does not mean a country is rich. Nigeria has that level of GDP thank in part largely to its population and not an indication of prosperity as can also be evident in India's GDP too