Nigeria overtakes South Africa to Become Africa’s Largest Economy

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Nigeria has climbed to the top spot as Africa’s largest economy surpassing South Africa. This is after the Nigeria National Bureau of Statistics conducted a rebasing of its Gross Domestic Product calculation. Analysts have welcomed the news saying this would attract more investments for Africa’s most populous country but have also warn that there are still a multitude challenges to be overcome to remain at the top. Despite the country’s consistent economic growth, basic infrastructure is still a big issue in Nigeria with just about 2,500 megawatts of electricity for its 170 million people and over 40 percent of its population being unemployed.

 

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