LIST OF REASONS

Nigeria’s status as a developing country is the result of a complex interplay of historical, economic, demographic, and infrastructural factors that have shaped its growth trajectory over decades. At its core, a developing country is characterized by an ongoing process of industrialization, efforts toward economic stability, and the drive to elevate living standards for its citizens. Nigeria, endowed with vast natural resources and a vibrant, youthful population, embodies many of these characteristics, yet it simultaneously grapples with challenges that are emblematic of nations in the process of development. The reasons why Nigeria is a developing country is hereunder discussed. One of the foremost reasons Nigeria is considered a developing country is its relatively low per capita income. Despite being Africa’s largest economy and a nation with substantial oil revenues, the wealth generated is not evenly distributed among its more than 200 million citizens. A significan...