'The hard work to build a better Nigeria continues,' he said in an acceptance speech on Wednesday.
GDP per capita income fell from $264 to $250 between 1970 and 1999, despite an estimated $230 billion in oil revenue in that time.
The economy is recovering slowly: last year there was a 1.8 per cent growth in GDP, and inflation fell to 11.3 per cent in January 2019. In 2050, the UN projects Nigeria will be the third most populous nation in the world with 410 million people. The Brookings Institution estimates that number is growing by six people a day, meaning a faster rate of growth is vital to stop the trend.
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