From independence in 1960, Nigeria consistently contributed about 10% of Africa’s GDP, a modest but notable share of the continent’s economic pie. For the first two decades, its share hovered around 10–16%, even as nominal GDP grew from $4.2 billion to $36.3 billion by 1976.
The oil boom of the late 1970s and early 1980s caused Nigeria’s slice of the African economy to expand dramatically, peaking at 31% in 1981, making it the dominant economy on the continent. Yet, as oil prices fluctuated and economic mismanagement took its toll, Nigeria’s share dropped sharply in the mid-1980s to around 13–17%, showing how volatile dependence on a single sector can be.
The 1990s and 2000s tell a story of recovery and growth. Nigeria’s share climbed again, reaching 27.7% in 1998 before a steep drop to 9.2% in 1999, reflecting political turmoil. By the 2010s, Nigeria maintained a more stable 16–22% share, with GDP hitting $574 billion in 2014, demonstrating sustained growth alongside Africa’s expanding economy. Yet, the latest data from 2024 shows Nigeria’s share at just 7.1%, despite a GDP of $187.8 billion, highlighting both domestic economic challenges and the rise of other African economies. The graph of Nigeria versus the rest of Africa tells a story of a nation whose relative influence has ebbed and flowed, reminding us that independence brought both opportunity and responsibility for sustained growth.
Burundi recorded its highest GDP per capita in 2015 ($280.97).
By 2024, GDP per capita dropped to $153.93, a decline of nearly 45% from its peak.
Burundi’s population exceeds 13 million (2024), which dilutes income per person even when overall GDP grows.
Structural challenges like limited industrialization, reliance on subsistence farming, and political instability contribute to stagnation.
Since 2015, Burundi has held the lowest GDP per capita in Africa—and at $153.9 in 2024, it is the poorest country in the world by GDP per capita.
