Nigeria GDP Per Capita Plunges 66% Since 2014 Peak: Quartus Report Warns 65M Thrust Into Poverty Amid “Lost Decade”
Nigeria’s economy hemorrhaged 66% in GDP per capita from its 2014 high, shoving 65 million into poverty by 2024, a scorching Quartus Economics report blasts—exposing oil crashes, naira collapse, and reform shocks in Africa’s giant.
The October 28 “Forty Years of Structural Adjustment” report details: Per capita GDP cratered two-thirds (~$3,000 to ~$900), despite total GDP swelling from $87.5B (1990) to $252B (2024). Naira? 99.7% value erased since 1990. IMF backs: $3,022 (2014) → $835 (2024)—worst global slide.
2014-2023 “lost decade”: Oil price implosion, population boom (232M), fiscal strangleholds, governance gaps—poverty exploded from 40% to 63% multidimensional (133M+).
Tinubu 2023 reforms (subsidies/FX slashed) ignited 34% inflation hell, food riots—but late 2024 rebound: 4% GDP growth, $42B reserves, mining/manufacturing surge outpacing pop growth.
X ignites with Nigeria GDP per capita 66%, 65 million poverty Nigeria: @drkenon2 (41K views): “$1,700 → $1,109—catastrophe!” @ooyeboade (161K views): “GDP $510B (2014) → $180B—shame!” Peter Obi allies torch Tinubu: “Destroyed us!”
U.S. stakes soar: $20B remittances (diaspora lifeline) imperiled—40% unemployment, World Bank: 56% poverty by 2026. Opioid/fraud pipelines from desperate Naija youth hit American streets. Oil thieves/insecurity bleed $Bs; exports tanked—$300B GDP dream? Dust.
Quartus verdict: “African eagle unstuck… not soaring.” Export pivot, governance overhaul—or perpetual trap. NBS Q2 2025: 4.23% growth—but per capita? Stagnant hell.
Nigeria GDP per capita crash, 65 million poverty—2027 polls rage as economic crisis 2025 grips.
By Sam Michael
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