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.

 

[Idilinaa]

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

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

GDP (Gross Domestic Product) is already a measure of economic activity over time, not a "stock" of wealth.

It measures the total value of goods and services produced in a year—it is not a fixed asset like national wealth or savings.

Mobile money transactions reflect real economic activity, meaning they directly contribute to GDP. So, mobile money transactions are a direct part of GDP calculations. NOT separate from GDP. GDP is a measure of yearly economic production, which aligns with mobile money transaction volumes. So basically GDP is a not a "stock" of wealth (like total money saved),

Saying Somalia’s GDP per capita is only $600, that would mean Somalia’s GDP is around $10–11 billion which is completely inconsistent with mobile money transaction data.

That would mean mobile money transactions alone would be nearly 3× the entire GDP, how does that even begin to make sense?

 

[Xassan]

Somali needs to be the Florida of Africa we have all the advantages

-warm water ports that are good for trade
-costal cities that have the potential of being the gateway into east Africa imagine how much banks and financial firms could open
-young population we can get them to work giving them a steady paycheck while building the massive infrastructure needed

All we need is a stable government with a superpower backing it and favorable tax and business laws

Imagine Somalia looking like this
View attachment 354518

Somalia should do its old architechture, white cities it always suited our country.

 

[Keep it a boqol]

These niggas had oil money for decades african corruption shows has no bounds

 

[Dalac Bilaash]

We haven't even started exporting none of our natural resources yet we're still not that bad don't take the blackpill our potential is looking good