Smaller nations in challenging regions, like Liberia and Chad, struggle with limited resources, weak financial sectors, and unfavorable tax regimes, hindering foreign investments.

Larger countries, including the Democratic Republic of the Congo and Mozambique, still struggle with poverty due to internal conflicts, political instability, and inadequate infrastructure, hampering economic progress.

Despite widespread global affluence, some nations face enduring poverty, as indicated by their low Gross Domestic Product (GDP) per capita rankings.

GDP measures a country’s annual production of goods and services, but for a holistic view of prosperity, consider GDP per capita by dividing the GDP by the total population.

However, this may not offer a complete perspective due to variations in the cost of living and inflation rates. Then Purchasing Power Parity (PPP) factors in local costs and inflation rates for a more accurate comparison of living standards across nations.


Some countries might have artificially inflated GDPs due to being tax havens. GDP per capita PPP is a helpful tool to pinpoint the poorest countries in the world.

According to the International Monetary Fund (IMF), Here are the 10 poorest countries in Africa by GDP per capita (PPP) in Africa 2024 – IMF as of February 22.

South Sudan – GDP Per Capita: $492

South Sudan, the youngest country in Africa, faces severe economic challenges exacerbated by conflicts, political instability, and reliance on oil exports. The country’s economy is highly vulnerable to external shocks, making sustainable development a formidable task.

Burundi – GDP Per Capita: $936


Burundi has struggled with political unrest and economic difficulties. The country relies heavily on agriculture, and issues like land scarcity and political instability have hindered economic growth.

Central African Republic (CAR) – GDP Per Capita: $1138

CAR continues to face economic hardships due to political instability, armed conflicts, and a lack of infrastructure. The country’s economy heavily depends on agriculture, and efforts to diversify have been impeded by ongoing challenges.

Democratic Republic of the Congo (DRC) – GDP Per Capita: $1565

Mozambique – GDP Per Capita: $1653

Mozambique faces economic hurdles due to factors like high debt levels, natural disasters, and inadequate infrastructure. The country is working to attract foreign investment and diversify its economy beyond agriculture and mining.

Malawi – GDP Per Capita: $1712

Malawi, heavily dependent on agriculture, faces challenges such as food insecurity, limited access to education, and a lack of diversified industries. Efforts are being made to address these issues and promote sustainable economic growth.

Niger – GDP Per Capita: $1729

Niger confronts economic challenges such as a rapidly growing population, low literacy rates, and dependence on agriculture. Addressing issues related to education, healthcare, and infrastructure is crucial for sustainable development.

Chad – GDP Per Capita: $1863

Chad faces economic difficulties stemming from its dependence on oil exports, political instability, and security concerns. Diversification efforts are crucial for mitigating the impact of fluctuating oil prices and promoting economic resilience.

Liberia – GDP Per Capita: $1881

Liberia, recovering from years of civil war, faces economic challenges such as a weak infrastructure, limited access to education, and high unemployment rates. Sustainable development efforts focus on rebuilding institutions and fostering economic diversification.

Madagascar – GDP Per Capita: $1988

Madagascar struggles with economic challenges including political instability, deforestation, and inadequate infrastructure. Efforts are being made to promote ecotourism and sustainable resource management are vital for economic growth.

Thank God for oil and gas. If not, Nigeria would be on the list...

SoNature:
Thank God for oil and gas. If not, Nigeria would be on the list...

God blessed Nigeria with abundant natural resources but it was mismanaged by the government

Ni

Yet the largest number of extremely poor people live in Nigeria.

coputa:
God blessed Nigeria with abundant natural resources but it was mismanaged by the government

Which resources? Lol we don't have resources relative to our population

We all must learn to pay 35% of what we earn as tax if we want development

Nigeria is not there,we move.
We are not poor but we are blessed with poor managers.

Most landlocked countries tend to have poor resources. Access to a long coastline opens up a flourish of large deposits of oil and gas.

Of all the countries listed above, only 3, namely Liberia, dr congo and mozambique, have a considerable access to intl waters. The rest are landlocked countries situated in the heart of africa.

SoNature:
Thank God for oil and gas. If not, Nigeria would be on the list...

South Sudan has oil and gas. Niger and Chad have uranium. Having resources is not a guarantee for wealth.

drlateef:



South Sudan has oil and gas. Niger and Chad have uranium. Having resources is not a guarantee for wealth.

Having resources is guaranteed to wealth. If you decide to mismanage your wealth, it's your choice.

mrvitalis:

Which resources? Lol we don't have resources relative to our population

We all must learn to pay 35% of what we earn as tax if we want development

Nigeria exports 1.3 million barrels of crude everyday and a barrel sells for $82.77

That's about one hundred million dollars a day just from oil exports alone

Svoboda:
Most landlocked countries tend to have poor resources. Access to a long coastline opens up a flourish of large deposits of oil and gas.

Of all the countries listed above, only 3, namely Liberia, dr congo and mozambique, have a considerable access to intl waters. The rest are landlocked countries situated in the heart of africa.

you made a valid point

Ok

coputa:
Nigeria exports 1.3 million barrels of crude everyday and a barrel sells for $82.77

That's about one hundred million dollars a day just from oil exports alone

Firstly we don't get all 82.77 dollars

Cost around $25 to extract and sale
That leaves us with say $58 dollars and we get 55% of that

That's $32 per barrel multiple that by 1.5 million barrels that's 48 million dollars per day

Divide that by 200 million people

That's $ 0.24 per day per capita at 1500 per dollars that's 360 multiple by 30 that's mere 11,000

So again would u call someone who earns 11k a month blessed?

Obidients will come here to question this report
They will ask why Nigeria isnt on the list

People wey talk say na New order dem want but dem still dey scam people from their own party

Nigeria no dey there ??

Believe it or not they’re living better than Nigerians

There are more poor people living in Nigeria than the entire population of these countries.

zuchyblink:
There are more poor people living in Nigeria than the entire population of these countries.

visit these countries then you will see abject poverty, the poorest .

Nigeria has infrastructures more than these countries

SoNature:
Thank God for oil and gas. If not, Nigeria would be on the list...

Nigeria was doing better without oil and gas.

anonymous1759:



Nigeria was doing better without oil and gas.

Story for the gods.

Do you have data to back up your claim?

SoNature:


Having resources is guaranteed to wealth. If you decide to mismanage your wealth, it's your choice.

Resources not well utilised will lead to poverty. You can only get wealth if resources are well utilised.

SoNature:


Story for the gods.

Do you have data to back up your claim?

Nigeria was doing better before the discovery of oil

Nigeria was exporting cocoa and other cash crops then,

There was no debt of budget deficits

U will soon hear dat one of dese countries will b sending Grains to Nigeria to help to combat her Hunger crises......

mrvitalis:

Firstly we don't get all 82.77 dollars

Cost around $25 to extract and sale
That leaves us with say $58 dollars and we get 55% of that

That's $32 per barrel multiple that by 1.5 million barrels that's 48 million dollars per day

Divide that by 200 million people

That's $ 0.24 per day per capita at 1500 per dollars that's 360 multiple by 30 that's mere 11,000

So again would u call someone who earns 11k a month blessed?

But u want him to pay 35 per cent as tax

HellVictorinho6:


But u want him to pay 35 per cent as tax

What wrong with paying 35% tax

coputa:
visit these countries then you will see abject poverty, the poorest .

Nigeria has infrastructures more than these countries

Rubbish

mrvitalis:

What wrong with paying 35% tax

He gets 10k per month after working 31 days ,almost 20 hours.



The tax will still be wasted


And he cant do shit about dat

HellVictorinho6:



He gets 10k per month after working 31 days ,almost 20 hours.



The tax will still be wasted


And he cant do shit about dat

Then he should vote people that won't waste his tax na simple

mrvitalis:

What wrong with paying 35% tax

The VAT you are paying monthly is more than 35% plus the oil revenue and tariffs

mrvitalis:


Then he should vote people that won't waste his tax na simple

How can non tax wasters get money 2 contest in nigeria?

coputa:
The VAT you are paying monthly is more than 35% plus the oil revenue and tariffs

And they all get wasted