I believe you are reading this page either to satisfy your curiosity or make an argument “if or not Nigeria is a fourth world country”. First, let me describe what a fourth world country is. The term “Fourth World Countries” is used to describe parts of countries in the Third World that are most stricken by poverty, serious development challenges and political instability.
Their economic performance is much lower than in other more-developed nations of the world. They contribute little or nothing to the global economy. These countries rank lower than other nations in terms of socio-economic development and human development index ratings.
Nigeria once called the poverty capital of the world is not a fourth world county. I repeat! Nigeria is not a fourth world country. Nigeria is a very rich country. Nigeria has the largest oil reserves in Africa. It is the 26th largest economy in the world. Its GDP is greater than many of its more developed African peers like the Republic of South Africa.
Unfortunately, the wealth in Nigeria is concentrated in very few hands. Poverty and inequality in Nigeria are not due to a lack of resources, but to the ill-use, misallocation and misappropriation of such resources. At the root is a culture of corruption combined with a political elite out of touch with the daily struggles of average Nigerians.
If you are looking for fourth (4th) world countries. Here is the list:
- Burkina Faso
- The central African Republic
- The Democratic Republic of the Congo
- East Timor
- Equatorial Guinea
- Sao Tome and Principe
- Sierra Leone
- Solomon Islands