10 Jan 2009

The Nigerian Miracle?

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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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