The World Bank’s most recent data on Gross National Income per capita reports that Nigeria’s GDP increased significantly from $5,000 per person in 2020 to $5,250 per person in 2021, given a 5% rise.
Gross National Income is the sum of all the income that a country’s citizens and enterprises make.
Despite the numerous challenges that Africa’s largest economy and its citizens face, Nigeria’s GNI per capita increased.
Furthermore, with a GNI per capita of $5,250, Nigeria had its highest level in the previous six years.
Except for Egypt, whose GNI is $1.2 trillion, Nigeria’s Gross National Income, when calculated as a whole, exceeds $1 trillion USD.
South Africa is in third place, with an aggregate Per Capita basis of $0.99 trillion.
A per capita basis is perhaps a more relevant metric to evaluate how the aggregate outcomes are being felt by everyone in that country, as is the case with most economic indicators.
Nigeria is ranked 20th in terms of GDP per capita. Consequently, holds its place in the top 20 in Africa, maintaining its position from the previous year.
In terms of per capita wealth, Seychelles, Mauritius, and Libya continued to hold the top three rankings in Africa in 2021. The nations are listed below in descending order.
#10: Tunisia – ($11,270) (maintained same spot)
Tunisia’s Gross National Income per capita increased from $10,500 in 2020 to $11,270 in the review, making a rise of 7.3%. Tunisia maintained its 10th-place ranking from the previous year despite the rise. A quick glance at the historical trend reveals that Tunisia’s GNI per capita (2019: $11,540, 2018: $11,360) has yet to return to pre-covid levels.
#9: Algeria – $11,750 (maintained same spot)
With a GNI per capita of $11,750, which is 6 percent more than the $11,090 reported the year before, Algeria maintained its 9th-place ranking from the previous year. The GNI per capita of the North African nation was able to reach its pre-covid levels, but only slightly.
Read: Nigeria’s GDP improves by 3.11% in Q1 2022
#8: Egypt – $12,910 (maintained same spot)
With an average GNI per capita of $12,910, Egypt was 10th on the list of African nations in 2021. Egypt’s Gross National Income (GNI) climbed by 5.7% to $12,210 from the previous year, while the nation’s position remained the same.
#7: Equatorial Guinea – ($13,520) (One spot down)
The Republic of Equatorial Guinea reported a gross national income per capita of $13,520 in 2021, a little rise from the $13,400 figure from the year before. South Africa overtook the nation, which dropped one rank from sixth to seventh.
#6: South Africa – $14,140 (One spot up)
In comparison to the previous year, South Africa saw a 7.6% increase in GNI per capita, rising to $14,140 in 2021. In the ranking list, South Africa moved up one spot from the previous year to take sixth place.
#5: Gabon – $14,560 (maintained same spot)
In 2021, Gabon’s Gross National Income (GNI) per capita increased by 1.8% to $14,560 from $14,300 in the year before. Gabon remained in fifth place, where it had been the previous year. The World Bank estimates that as of 2021, there were 2.27 million people living in Gabon.
#4: Botswana – ($16,650) (maintained same spot)
With a GNI per capita of $16,650 in 2021, up 9.5% from the $15,210 figure for the previous year, Botswana came in fourth on the list. The Southern African country has a population of 2.39 million in 2021 from 2.35 million as of 2020.
#3: Libya – $23,550 (maintained same spot)
Libya maintained its third-place ranking on the list in 2021 with a GNI per capita of $23,550, the same figure as the year before. The GNI per capita of Libya dramatically grew from $17,370 in 2020 to $35.6% higher on a year-on-year basis.
#2: Mauritius – $25,530 (maintained same spot)
With a GNI per capita of $25,530 in 2021, up 4.6% from the $26,820 figure for the previous year, Mauritius kept its second-place ranking. The country, which is a tiny island nation in the Indian Ocean, managed to achieve a higher GNI per capita thanks to its 1.23 million inhabitants.
1st place: Seychelles – 28,050 (maintained same spot)
Seychelles, a collection of 115 islands in the Indian Ocean off the coast of East Africa, reported a GNI per capita of $28,050 in 2021, an increase of $4.6% from $26,820 in the year before. In terms of GNI per capita, Seychelles remained in first place in 2021.
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