How far we still have to go

The Economist published this graphic in a side story that was part of their coverage of the 2009 South African elections. These are supposed to be the five biggest GDPs in Sub-Saharan Africa, and their point is South Africa alone is as economically large as the next three (Nigeria inclusive) put together.

If we assume Nigeria's population to be 120 million (i.e. halfway between a possible high of 150 million and a possible low of 90 million), then South Africa's population is about 33% of ours. This means our federal republic would need a GDP at least THREE TIMES BIGGER than South Africa's just to equal their economic wealth (i.e. their per-capita-income).

And mind you, South Africa is "rich" only by African standards. If Nigeria plans on being a global economic force, would would have to EXCEED South Africa's economic performance (i.e. have a GDP more than three times as large).

Our petty squabbles over petty politics obscures the fact that our economy is not performing as strongly as we need it to, and never has. Our tendency to over-hype our achievements (a psychological phenomenon I call the "Giant of Africa" complex), also tends to make us content with what is in fact massive under-achievement.