Nigeria is generally classified as a developing, emerging-market economy. It is not considered a developed country or an undeveloped (least-developed) country.
Standard classification
Most international institutions describe Nigeria as:
- A lower-middle-income country based on income per person.
- An emerging market because it has a large, diversified mixed economy with growing sectors like services, telecoms, and entertainment, but still significant structural challenges.
Why “developing” / “emerging”
Nigeria:
- Has Africa’s largest or one of the largest GDPs, with major sectors including oil and gas, agriculture, telecommunications, and services.
- Still faces high poverty, infrastructure gaps, and reliance on primary sectors such as agriculture and crude oil, which keeps it in the “developing” rather than “developed” category.
Label choice for your options
Given your multiple-choice style options:
- “Developed” – No. It does not meet high-income and high–human development benchmarks.
- “Emerging” / “Developing” – Yes. Both are commonly and accurately used; “emerging economy” within the broader group of “developing countries.”
- “Undeveloped” – No. This term is outdated and does not reflect Nigeria’s size, diversification, or industrial base.
If you must pick just one of those four for a typical school question, the best single answer is: Emerging (or Developing , if that is the expected term in your course).
