saasala:
[s]Sequel to the thread on Nigeria's economy becoming the biggest in Nigeria (Read it [url="https://www.nairaland.com/5717471/nigeria-now-tops-south-africa"]here[/url]), I have decided to write something to counter it after it seemed from the comments of Nairaladers that they do not understand how a nation's economy should be judged.

People must first understand that Nigeria's economy has not grown under the present government. We only took over from South Africa as the biggest economy because the Zulu nation entered into recession.

That being said, people must understand a country's worth is not measured by it's GDP. It is measured by it's GDP Per Capital-Purchassing Power Parity (PPP). That is the country's total income divided by the total population. This tells you how many people are spending the money.

Let me break it down: Mr AB earns 500k montly while MR BC earns 350k monthly but MR AB is a polygamous man with 3 wives, each wife with four children each. MR AB has 12 people plus himself to cater for. But Mr BC is married to one woman who has given him 2 children. He has just 3 people plus himself to cater for. Mr AB also has 14 siblings because he took after his father's way of polygamy while Mr BC just like his father has one sibling.

In total Mr AB has 27 people he is responsible for while Mr BC has just five people.

Do not be surprised to see Mr AB with his 500k monthly salary living a wretched life, his kids going to substandard schools, he cannot even afford a single car while Mr BC lives in a comfortable place, looks fresh, drives a clean small car and have his kids attend the best schools. The standard of living of Mr BC is clearly above that of MR AB.

The above analysis clearly explains what is happening to Nigeria. Biggest economy in Africa my foot.

Nigeria has a population of about 200 million while South Africa has 60 million. Nigeria with GDP Per Capital (PPP) of $6,000 while SA has $13,000
This means that if we have to devide the country's income (GDP) by it's population, an average Nigerian is expected to make $6k yearly = $500 monthly while our Zulu brothers get $13k yearly = 1.08k monthly. Now tell me, who is living a better life?

That is why in South Africa electricity, good road, basic health care etc are not among the least of their problems.

Nigeria has bigger income than many European countries yet we are poor. Why? Our overpopulation!

Our population which should be used to generate wealth is a curse to us because our leaders who should provide avenue for the large number of people to work, farm, export our produce to foreign lands have folded their hands waiting for who will buy our crude oil.

Nigeria is currently on number 129th in World Rich Index while SA is in number 89th calculating by GDP Per Capital(PPP). Do you still think we are richer than them?

Do you know that Gabon, Botswana are thousands of miles ahead of Nigeria in terms of standard of living? These two countries live better than Mexico, Argentina, Brazil, Bosnia and we call ourselves the giant of Africa.[/s]