The World Bank has retained Nigeria’s classification as a lower-middle income economy for the 2027 fiscal year, maintaining the country’s position despite ongoing economic reforms and growth efforts.
Under the latest classification, Nigeria remains in the group of economies with a gross national income (GNI) per capita ranging from $1,176 to $4,635.
The World Bank updates its income classifications annually using GNI per capita estimates based on the Atlas method, which smooths the effects of exchange rate fluctuations and inflation.
Nigeria’s continued placement in the lower-middle income category reflects its current income level and serves as a benchmark for international comparisons, development financing and economic analysis.
The classification does not directly determine a country’s overall economic performance but provides an indication of average national income relative to other economies.
