Nigeria's population soars, but GDP has faced significant fluctuations from 1960 to 2023

Nigeria’s population growth has outpaced its economic performance. From 1960 to 2023, the population increased from 44.9 million to an estimated 223.8 million, putting immense pressure on resources.

The country's GDP peaked at $574.2 billion in 2014 but dropped to $362.8 billion in 2023.

Source:

World Bank

Period:

1960 - 2023
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Burundi and Mozambique consistently rank lowest in African worker productivity since 1991
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By 2054, India is projected to remain the world’s most populous country, growing by 17.1% from 2024 to reach 1.69 billion people
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