How Nigeria’s early economic lead over China was lost

In the 1960s, Nigeria’s economic future was bright. Endowed with rich natural resources, arable land, and a young, growing population, the country seemed poised to lead Africa’s economic ascent. For years, Nigeria’s GDP per capita exceeded that of China, spurring hopes that it would emerge as a regional powerhouse. Oil discoveries only amplified this optimism, with the economy initially benefitting from high revenues and rapid growth. Yet Nigeria’s economic story would take a different turn. Today, China has soared to become the world’s s