Nigeria’s GDP per capita is same as Somalia

[Idilinaa]

While we are improving fast were not anywhere close to $6000 gdp per capita. Thats about the level of Thailand which is above both vietnam and Indonesia. It would mean somalia would have a gdp 100 billion . Realistically i would put at the 1200-1300 level. If we were even at $3000 gdp per capita. We would have the infrastructure and systems in place to prevent tens of thousands from dying of starvation without any aid

I did the math 2.7 billion a month(32 billion a year) in transactions that make up 36% of GDP is 90 billion . 0.3632.4 billion=90 billion. 15 million/90 billion = 6.000 per capita

if its 18 million population it is 18 million divided by 90 billion = 5.000 per capita.

Either way the math adds up. You can even compare it to Kenya as this article lays out

Mobile money transactions equivalent of half of Kenya’s GDP

Central Bank of Kenya data shows that mobile money transactions stood at Sh3.98 trillion ($38.5 billion), having increased by Sh346 billion (10%) from 2017.

www.paymentscardsandmobile.com

In 2018, mobile money transactions in Kenya were valued at 44% of GDP, based on an economic output of KSh 9.09 trillion ($89.6 billion) according to the IMF.

In 2023, mobile money transactions in Kenya totaled KSh 3.98 trillion ($38.5 billion), which is approximately 42% of GDP.

So the math for Somalia adds up. Other examples would be Ghana and Tanzania which are similarly sized economies with advanced mobile money. Same proportionality.

The main difference is that Somalia has similarly sized economy in the 90 billion range but 3 times smaller population.

The rest of what you said has mostly do with the government delivering services. It's up to the government to tax and collect the money domestically and resources in the country redistribute it and invest in infrastructure. It's not for lack of thereof.

It's not for private citizens to do this who are engaged in private sector activity and trade & business which is what is generating most of the wealth in the country and 90% of employment.

 

[Thegoodshepherd]

@Idilinaa you are mistaking a flow (transactions) for a stock (GDP).

I am 100% sure that Somalia's GDP per capita is under $600.