Charlotte MacDonald

speaker

1,889 appearances 62 recordings 1 series first heard Sep 2010 last heard Apr 2025

Charlotte MacDonald’s voice in public audio — every appearance, attributed to the second.

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More or Less · Nigeria - rich or poor? · 12 Apr 2014 podcast

But recently, in the space of just one weekend, the size of Nigeria's economy almost doubled to $510 billion, making it much bigger than South Africa's. voice-verified

Both these industries barely existed back in 1990, so until this week, they simply weren't being included in Nigeria's official GDP figures. voice-verified

But Razia Khan and others were surprised by the huge leap in the figure. voice-verified

So Nigeria's GDP is almost double what we thought it was. voice-verified

But why does it matter? voice-verified

Morten Jervin again. voice-verified

What's more, if you divide GDP by each person in the population, South Africans are much richer than Nigerians. voice-verified

So GDP on its own doesn't tell the whole story. voice-verified

Yeah, well, sort of. voice-verified

And one of our listeners in Nigeria, Bandy Albert, got in touch to ask, can that really be true? voice-verified

Are two thirds of the world's poorest people in just five countries? voice-verified

And what proportion are in each? voice-verified

The World Bank came up with a statistic to illustrate the problems with extreme poverty around the world. voice-verified

The figures it uses are based on data from household budget surveys carried out by national governments. voice-verified

And it says you're in extreme poverty if you live on less than $1.25 a day. voice-verified

So, of the 1.2 billion people in the world who are estimated to live on less than $1.25 a day... voice-verified

Here's what proportion are in each of the five countries with the largest share. voice-verified

India, 33%. voice-verified

But an economist who writes for the Nigerian newspaper This Day, Waziri Adio, says Nigeria mustn't be complacent. voice-verified

So is Nigeria a rich country or a poor country? voice-verified

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