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Why Nigeria Is Not Regarded As A Developed Country - Business - Nairaland

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Why Nigeria Is Not Regarded As A Developed Country by joedams: 6:16pm On Aug 22, 2016
According to Economists, Nigeria is not a developed country by any reasonable standard. The country's per capita gross domestic product (GDP) is much too low, as are its living standards. Industrialization in Nigeria lags behind all the countries upon which universal agreement of developed status exists. Nigeria also suffers from low literacy rates, poor health care and a stratospheric infant mortality rate.

Common Developed Country Standards

While there is some variance in the specific criteria set by economists for developed country status, there is universal agreement that developed countries have high per capita GDPs, good living standards and widespread industrialization. Moreover, citizens of developed countries rank high in literacy, high in health care availability and low in infant mortality.

The most common per capita GDP threshold for classification as a developed country is $12,000. The most advanced economies in the world, such as the United States, Switzerland and Norway, boast per capita GDPs in excess of $50,000. Similarly, most developed countries suffer fewer than 10 infant deaths per 1,000 live births.

How Nigeria Compares

As of 2015, Nigeria's per capita GDP sits at $2,831. Even if you do not adhere to the $12,000 threshold as a hard-and-fast rule, Nigeria's economy comes in well below any reasonable definition of "developed." Poverty is widespread, and large swaths of the country lack access to quality health care and even clean water.

The infant mortality rate in Nigeria, at 69 per 1,000 live births as of 2015, is atrocious. Even Afghanistan and Haiti, two countries well known for their deplorable living conditions, have better numbers as of 2015.

Based on its economy, health care and living standards, Nigeria is a long way from being classified as a developed country.


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