The national gross income per capita in Nigeria decreased to 1,930 U.S. dollars compared to the previous year. Therefore, 2023 marks the lowest national gross income during the observed period. Gross national income (GNI) per capita is the total value of money received by a country, from both domestic or foreign sources, divided by the midyear population. The World Bank uses a conversion system known as the Atlas method, which implements a price adjusted, three year moving average, smoothing out fluctuations in exchange rates.
The source adds the following information: 'GNI per capita (formerly GNP per capita) is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population. GNI is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad'. It 'uses Atlas method GNI per capita in U.S. dollars to classify countries for analytical purposes and to determine borrowing eligibility'.
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World Bank. (October 24, 2024). Gross National Income (GNI) per capita in Nigeria from 2013 to 2023 (in U.S. dollars) [Graph]. In Statista. Retrieved December 09, 2024, from https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/
World Bank. "Gross National Income (GNI) per capita in Nigeria from 2013 to 2023 (in U.S. dollars)." Chart. October 24, 2024. Statista. Accessed December 09, 2024. https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/
World Bank. (2024). Gross National Income (GNI) per capita in Nigeria from 2013 to 2023 (in U.S. dollars). Statista. Statista Inc.. Accessed: December 09, 2024. https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/
World Bank. "Gross National Income (Gni) per Capita in Nigeria from 2013 to 2023 (in U.S. Dollars)." Statista, Statista Inc., 24 Oct 2024, https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/
World Bank, Gross National Income (GNI) per capita in Nigeria from 2013 to 2023 (in U.S. dollars) Statista, https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/ (last visited December 09, 2024)
Gross National Income (GNI) per capita in Nigeria from 2013 to 2023 (in U.S. dollars) [Graph], World Bank, October 24, 2024. [Online]. Available: https://www.statista.com/statistics/1291432/gross-national-income-per-capita-in-nigeria/