One major piece of news that emerged almost unnoticed at the end of 2019, before Nigeria entered another recession, was the revelation that Nigeria had finally overtaken South Africa to become the continent’s largest economy. South Africa has dominated economic affairs on the continent for the past 50 years, with a nominal and PPP GDP that has far outstripped other countries in Africa.
However, Nigeria’s decades-long economic expansion, coupled with the increasing economic turmoil seen in ZA finally resulted in Nigeria taking the top spot. This ranking is, however, purely in terms of economic size, with Nigeria posting a nominal GDP of $444.9 billion, compared to South…
Source: Nigerian Tribune
