Economic Model-Based Calculation of Per Capita Income Level in Nigeria

Abstract

A survey carried out revealed that socio-economic human development programme (SHDP) is a major item of United Nations development agenda. The objective of the nations` development plan had always aimed to ascertain and improve quality of living (QL) worldwide. Due to inaccuracy of available population and national income data, the existing method of calculating per capita income is inadequate and does not manifest true life situation. This paper is aimed to develop alternative method of calculating per capita income level, based on details of Nigerian workers` pay package. The Nigerian population figures were classified into three economic groups of varying capabilities. The adjustment error affecting accuracy of the calculation was subjected to H-test to facilitate relevance to true life affairs.

Keywords: human development elements; pay indices; 25:75 SHDP; QL parameters; formatted figure distribution