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UN classifies Nigeria as a lower middle-income country

06 September 2016, 19:00

Abuja - Nigeria and 12 other countries have been listed under the lower Middle-Income Countries (MICs) according to a report on industrialisation in Africa and least developed countries, reports Daily Post

The report was prepared by the United Nations Industrial Development Organisation (UNIDO) at the request of the Group of 20(G20), Development Working Group (DWG).

The 12 other countries classified under the lower-middle-income countries along with Nigeria are Cape Verde, Cameroon, Republic of Congo, Côte d’ivoire, Djibouti, Ghana, Kenya, Lesotho, Mauritania, São Tomé and Príncipe, Swaziland and Zambia.

Also read: Nigeria ranked high with out-of-school children

According to the report, countries with a gross domestic income (GDI) per capita of between $1,026 and $12,475 in 2015 are classified as middle-income countries

Only eight countries in Sub Saharan African were classified as middle-income countries, reports Vanguard

These are Angola, Botswana, Equatorial Guinea, Gabon, Mauritius, Namibia and South Africa with a GDI of at least $4 036.

According to the report, of the Africa’s 54 countries, 48 are in sub-Saharan Africa and six in North Africa; 26 are middle-income countries (MICs), 34 LdCs, one is a high-income country (HiC), 16 are land-locked developing countries (LLdCs), and six are Small Island developing states.”

- News 24

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