Following significant revisions to historical GDP data, Nigeria was confirmed as the largest economy in Africa earlier this month. Measured GDP has almost doubled to US$510bn, placing Nigeria comfortably ahead of South Africa, which was previously thought to be the region’s largest economy with GDP of around US$350bn. What’s more, the GDP revisions show significant changes to the structure of the Nigerian economy, with more weight being given to consumer-facing sectors and less to the underperforming oil sector.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services