Imagine there are two families with the fathers of the families as the sole breadwinner. Family A have 8 children, a father, and the mother while Family B has two children and the father & mother.

Father A with 10 mouths to feed earns #200,000/mth while Father B with just 4 mouths to feed earns #150,000/mth.

At the end of the day Family A averages #20,000/person/month while Family B averages #37,500/person/month for overall upkeep.

Now here is the big question, which of these two set of people have a better living standard and bragging right regarding the richer family?

I like to hear from Nairalanders. Should we say Family A has a superior group earning or Family B has a superior per capita earning?
O think the answer to the above question lies in how we agree the wealth of a group of people should be defined.

lalasticlala, mynd44, and Seun, I created this thread as a result of the endless debate on the Kenya versus Nigeria thread by tonyebarcanista and the one about Northern Nigeria versus SouthWest Nigeria by perez100 among other development threads.

I will be adding mentions of key actors in those threads as time permits me.
madridguy, man mountain, gab264, ibibiofirstlady, Dmerciful, Obailala, ConqueredWest, Lobatan, MasterMaestro, MadamExcellency

Brb

I keep saying that Nigeria's biggest challenge is population control! How can the standard of living progressively improve when the rate of wealth generation is far lower than population growth.
In sane societies like China, the strength of population has been turned to massive productive workforce taking the world economy by storm!
Nigeria's over bloated population is not actively engaged in production hence the negative effects of scarcity which are kidnapping, robbery, terrorism, corruption etc is the bane of our society.
As an immediate action, the govt should implement population control laws of maximum 2 children per family cos at this rate of our population growth... our standard of living is not likely to improve appreciably versus other countries of similar age

DMerciful:
I keep saying that Nigeria's biggest challenge is population control! How can the standard of living progressively improve when the rate of wealth generation is far lower than population growth.
In sane societies like China, the strength of population has been turned to massive productive workforce taking the world economy by storm!
Nigeria's over bloated population is not actively engaged in production hence the negative effects of scarcity which are kidnapping, robbery, terrorism, corruption etc is the bane of our society.
As an immediate action, the govt should implement population control laws of maximum 2 children per family cos at this rate of our population growth... our standard of living is not likely to improve appreciably versus other countries of similar age

Population can be good if productive. in our case we depend on the system and thus burden the system instead o lifting it. Nobody wants his sweat looted.
But should we keep saying Nigeria is rich because our budget is huge or should we say Nigeria is poor because our per capita income is supper poor among committee of African nations?

Nigerian population is growing between 4 to 5 percent per annum

Nigerian GDP is growing between 0.1 to 2 percent per annum.

Also Nigeria's debt is growing at the fastest rate in decades.


If you have any piece brain cell left, common sense will tell you that Nigeria is on a path of destruction. This is very unsustainable.

Now add to the fact that oil will soon become worthless....

horsepower101:
Nigerian population is growing between 4 to 5 percent per annum

Nigerian GDP is growing between 0.1 to 2 percent per annum.

Also Nigeria's debt is growing at the fastest rate in decades.


If you have any piece brain cell left, common sense will tell you that Nigeria is on a path of destruction. This is very unsustainable.

Now add to the fact that oil will soon become worthless....

Why the rant oga. The topic didn't make any conclusions but asked question.

madridguy:
Brb

Now Buhari has come out to say the nation isn't so rich, should we base our wealth level as a nation on overall earning at national level or per capita earning?