10
Jan
2009
The Nigerian Miracle?
In a passage in my upcoming book I made an offhand remark about Nigeria, and I went to Wikipedia to make sure I wasn’t saying something dumb. (For one thing, I wanted to make sure “Nigeria” was an official place back in the 1940s.) I came across this rather startling passage:
According to the Economist Intelligence Unit and the World Bank, Nigerian GDP at purchasing power parity has nearly doubled from $170.7 billion in 2005 to 292.6 billion in 2007. The GDP per head has jumped from $692 per person in 2006 to $1,754 per person in 2007.
Is that last stat a typo? If not, that means Nigeria:
(a) Had the most impressive economic growth in mankind’s history,
(b) Killed a bunch of people,
(c) Had massive price inflation.
Any thoughts?
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