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Life Expectancy Vs Per Capita Income by Nicklee(m): 6:40pm On Mar 15, 2015 |
****Culled piece- interesting**** People should stop the nonsense about Nigeria being the largest economy in Africa under Jonathan. The real measure to use is per capita income (PCI). Using GDP is like comparing apples to oranges. It is like saying that I am stronger than my four year old son. While this is true, it does not mean anything. Just as we use price per earnings ratio to compare stocks instead of the actual stock price, we use PCI to compare the well being of citizens of a country. Here is a few comparisons for 2013. Country-------Population-------GDP------------PCI------------Life expectancy Nigeria---------173.6m----------$521.8bn------$3,005---------52.11yrs South Africa---52.98m----------$350.6bn------$6807---------56.10yrs USA-------------316.5m----------$16.77tr-------$53,041-------78.7yrs Norway---------5.084m----------$512.6bn------$100,818-----81.45yrs As you can see, the PCI for South Africa is more than twice that of Nigeria. Norway's PCI is almost twice that of the United States and 33 times that of Nigeria. Also notice the correlation between PCI and life expectancy – better PCI means better quality of life/longevity. Jonathan should stop fooling Nigerians and admit failure. The GDP rose because of the oil and telecommunications boom. With our population, our GDP should be over three times that of SA period.
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