Nigeria has fallen 12 places in the 2026 Global Finance ranking of the world’s poorest countries, highlighting a decline in its relative economic standing despite remaining outside the bottom 10.
Nigeria ranked 56th among the 60 poorest countries globally, compared with 44th in the 2025 ranking, according to the latest report by Global Finance magazine.
The ranking is based on gross domestic product (GDP) per capita at purchasing power parity (PPP), which adjusts income levels for differences in the cost of goods and services across countries and provides a measure of living standards.
Nigeria recorded a GDP per capita of $9,532.92 on a PPP basis in the latest ranking.
The movement means Nigeria is now closer to the bottom of the 60-country ranking, although it remains above the 10 countries classified as the world’s poorest economies.
Burundi emerged as the world’s poorest country, with a GDP per capita of $994.23, replacing South Sudan, which moved from first to third place with $1,467.19.
The Central African Republic ranked second at $1,437.72.
The other countries in the bottom 10 were Yemen, Mozambique, Malawi, Somalia, Liberia, Madagascar, and the Democratic Republic of Congo.
Nine of the 10 poorest countries were in Africa, with Yemen the only country outside the continent.
Nigeria’s ranking was also weaker than several other major African economies. Ghana ranked 51st, Mauritania 52nd, Kenya 44th, Senegal 37th, and Cameroon 38th.
Other African countries featured further up the list, including Niger at 11th, Sudan at 13th, Burkina Faso at 16th, Chad at 18th, Mali at 20th, Uganda at 26th, and Ethiopia at 32nd.
The latest ranking also showed significant changes among the poorest economies. Burundi moved from second place in 2025 to first, while South Sudan slipped to third. The Democratic Republic of Congo fell from seventh to 10th.
Outside Africa, countries among the 60 poorest economies included Afghanistan, Haiti, Myanmar, Nepal, Pakistan, Bangladesh, Cambodia, Timor-Leste, Papua New Guinea, Honduras, and Laos.
Nigeria’s weaker position comes despite the country’s large population and significant natural resource base. GDP per capita captures the average economic output or income available per person, meaning rapid population growth can weigh on the measure when economic expansion does not keep pace.
The ranking underscores the gap between Nigeria’s overall economic size and the income levels experienced on a per-person basis.
For Nigeria, the decline in relative ranking points to the broader challenge of translating economic activity into higher incomes and living standards as inflation, weak industrial output, infrastructure constraints, and low productivity continue to weigh on household purchasing power.
The wider ranking also highlights the persistent economic difficulties facing many African economies, where conflict, inflation, weak productive capacity, and structural constraints continue to limit improvements in living standards.
Ayomide Odunlami is a Tax Reporter at BusinessDay, covering Nigeria’s tax reforms, compliance trends, and government revenue strategies. She reports on how evolving tax policies affect businesses, investors, and the broader economy, providing clarity on complex regulatory issues through data-driven journalism.
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