The World Bank has retained Nigeria’s lower-middle income classification for its 2027 fiscal year.
This places Nigeria within the income group for economies with a gross national income (GNI) per capita of between $1,176 and $4,635.
The development was contained in the World Bank’s latest income classification update, which groups economies based on their 2025 GNI per capita calculated using the Atlas method.
The Atlas method uses a three-year average of exchange rates to reduce the impact of currency volatility and allow for more consistent comparisons across countries.
According to the multilateral, low-income economies are those with a GNI per capita of $1,175 or less, while lower-middle income economies have a GNI per capita ranging from $1,176 to $4,635.
The organisation defines upper-middle-income economies as those with a GNI per capita of $4,636 to $14,375, while high income economies have a GNI per capita
