The Emerging Middle Class and Its Effect on the Nigerian Economy

The growth in middle class in Nigeria follows the rise in the country’s national income. For instance, Nigeria’s Gross Domestic Product (GDP) increased five times from $46 billion in 2000 to $247 billion in 2011, while GDP per capital has increased to about $1,600. Similarly, the country’s population has increased by about 33% during the same period rising from 119 million to the current estimated 160 million.

Leave a Reply

Your email address will not be published. Required fields are marked *