Nigeria’s Economy Now the Largest in Africa

Nigeria is now Africa’s largest economy and 26th in the World

with a total GPD of $510 billion.

 

To arrive at this position, the West African country frog leaped its South African Counterpart. The country which moved 10 points forward now ranks next to Argentina

and just above Austria in the latest world Bank ranking.

 

Ngozi Okonjo-Iweala, Minister of Finance and coordinating minister for

the economy who made the revelation today at an event in Abuja to mark

MTN

the Rebasing of the country’s economy, said, the figures were arrived

at after being rigorously scrutinized by Yemi Kale, the  country’s

Statistician General, a 6-man team of Nigerian economic experts and an IMF

consultancy team.

 

Okonjo-Iweala who observed the contributions of other sectors of the economy

like Agriculture, Nollywood, Telecommunications and Small & Medium

Scale Enterprises, stressed the need to diversify the nation’s

economy.

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