[b]A new report from the International Monetary
Fund (IMF) has projected Nigeria as Africa’s
biggest economy, in spite of its current
challenges.
Nigeria is placed ahead of South Africa and
Egypt which are second and third respectively.
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).
But the IMF’s World Economic Outlook for
October, puts Nigeria’s GDP at 415.08 billion
dollars, from 493.83 billion dollars in 2015,
while South Africa’s GDP was put at 280.36
billion dollars, from 314.73 billion dollars in
2015.
According to the report, Egypt’s 2016 data is
not available, but its 2015 size remained at
330.159 dollars while that of Algeria, one of
the largest economies on the continent, is put
at 168.318 billion dollars.
The United States, China and Japan maintain
their spots as the largest economies in the
world, ahead of Germany, United Kingdom and
France.
According to a review in September, the
current economic recession will outlast 2016,
with a Gross Domestic Product (GDP)
contraction of 1.7 per cent.
The IMF had predicted that Nigeria’s economy
would grow away from a recession in 2017.
The country last witnessed a recession, for
less than a year, in 1991, and experienced a
prolonged one that started in 1982 and lasted
until 1984.
President Muhammadu Buhari’s
administration has so far disbursed over N700
billion in capital expenditure this year, part of
a record N6.06 trillion (30 billion dollars)
budget for 2016.[/b]


http://www.jeloser.info/2016/10/nigeria-overtakes-south-africa-as.html



mynd44 lalasticlala seun

And still we're languishing in penury.

This people are fond of clapping for us and cheering us on.

How come the realities on ground aint always what it is on paper?

That is hw our gdp was rebased and we are rated no 1 in africa even though 70% still feed on less than a dollar and we clapped for ourselves

Now here they are again cheering us on hw we are still the biggest economy in africa when realities on groud didnt point to any such thing

Absolute madness . This does not match realities on ground it's mere paper work

A country in recession is still the biggest economy in Africa...Africa is really poor!

From Alhaji liar Mohammed or... for real?