A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Why is Nigeria the biggest economy in Africa?

Best Answers

The battle over which one is the largest economy in Africa has been raging for a number of years now. South Africa had for a long time sat at the helm until the year 2014 when Nigeria came out of nowhere and took the crown. Ever since that time, it has been a raging battle with the two giants. read more

In August, Nigeria was reported to have lost its position as Africa’s biggest economy to South Africa, following the recalculation of the country’s Gross Domestic Product (GDP). read more

It is very sweeping to say Nigeria is the biggest economy in Africa. Nigeria is the biggest economy only by GDP(Gross Domestic Product). Which measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time (say a quarter or a year). read more

Nigeria "rebases" its gross domestic product (GDP) data, which pushes it above South Africa as the continent's biggest economy. Nigeria "rebases" its gross domestic product (GDP) data, which pushes it above South Africa as the continent's biggest economy. read more

Image Answers

Nigeria’s GDP: Step change | The Economist
Source: economist.com