[size=15pt]IMF Affirms Nigeria as Africa’s Biggest Economy[/size]

Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa — ahead of South Africa and Egypt.

In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product (GDP).

“A recalculation using current exchange rates put South Africa on top because the rand has strengthened against the dollar,” BBC had said in August.



“Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion,” Bloomberg had also said.

But according to TheCable, latest estimates from the IMF however put Nigeria’s GDP at $415.080 billion, from $493.831 billion at the end of 2015.
The IMF World Economic Outlook for October 2016 puts South Africa’s GDP at $280.367 billion, from $314.732 billion a year earlier.

Egypt’s 2016 data was reported as not available, but its 2015 size remained at $330.159 while that of Algeria, one of the largest economies on the continent, was put at $168.318 billion.

The United States, China and Japan maintained their spots as the largest economies in the world, with a GDP of $18.561 trillion, $11.391 trillion and $4.73 trillion respectively.

These countries are being trailed by Germany, United Kingdom and France in that order.
The Managing Director of the IMF, Christine Lagarde, said at the just concluded World Bank/IMF meetings that global growth had been too slow for too long.

“We continue to face the problem of global growth being too low for too long, benefiting too few,” she said after the world economic outlook was published.

The world expects an economic growth of 3.1 percent in 2016, reviewed from 3.4 percent.

http://www.thisdaylive.com/index.php/2016/10/19/imf-affirms-nigeria-as-africas-biggest-economy/

Even in our comatose state, we still stand taller, one can only imagine what the case would be when we recover on our feet.

[size=4pt]Attn: Lalasticlala, seun, mynd44[/size]

m

for present abi for past

we don hear

IMf should be probed

IMF don vindicate Buhari

for this Recession?

Yeye

nigeria is blessed with everything. ... even with a president that doesn't understand recession and he is still doing it .... well I guess IMF ate in Lier muhammed house before announcing this

Sai Baba. ... Sai kemi...Troway salute Mr. Emefiele...
Even with recession i still believe ma country (Nigeria) is great...N envy of all nations.. ..
God bless ma country Nigeria.. ..

We b there it just a mata of tym .

IMF has murdered some persons sleep
The Nigerian "Pharisees and Sadducees" should better hide their faces in shame and agony because Nigeria will grow stronger inspite of their beliefs or dispositions.

I repeat that those who are waiting for Buhari to fails will eat their own words like Olisa Metuh chewed his own statement

if i were wailers i wouldnt visit nairaland for 2 months.....so as to get quick recovery

I sense KWORRUPTION

These things are only seen in the papers and not reflecting in the lives of the ordinary masses who take out time and exact enough energy to survive on a daily basis

We need to try move these stats from papers to translate to the people and I think Nigeria will be better off

But this also goes to show that we are still better than other than other Africa countries even the ones that people are clamoring to go to

was that why finance minister said the recession is over? lets be optimistic

Let the belly aching begin

Nigeria might have bigger economy than south Africa and Egypt but ya'll are still far behind in terms of GINI coefficient, HDI, per capital income,, standard of living and economic outlook. South Africa has a functional economy while Nigerian economic heavily relies on oil.

Mynd44:
Let the belly aching begin

What's so great about this news? Africa as a whole has a smaller economy than California state. So i don't understand the chest puffing on this thread. Perspectives ladies and gents.

Akalia:
jealous stupid dick sucker spotted

Yep. I've often wondered at this myself. Why are people offended by the reaction but not the action that caused that reaction? No matter the issue, whether it be poverty, corruption, racism, sexism etc etc; people feel insulted by the reaction. Never the original action that prompted the reaction.

I suppose people like yourself feel personally indited, as if they're personally being held to blame. Yet this is so destructive because now instead of discussing a very real, very big issue; we're stuck discussing your feelings and how best to appease them. In the end, not only is that issue still there but in fact, it's probably grown. But no matter, as long as one's feelings are mollified, right?

People need to get over themselves. Sacrifice your feelings for the material good of the collective.

if only this news can bring low the prices of things in market.

Nigeria Africa;s biggest economy?
Even with the way our Naira is wobbling and fumbling in the money market
Ok nah!

wristbangle:
Generally there is recession in the globe just that it varies in countries. That of Nigeria is quite heavy due to our over-reliance on oil hence a monopolised economy. We hope to see a government that will harnessed other untapped resources in the country such as Agriculture, Natural resources, Information Technology and other mainstream, not just to stay as Africa giant but competing with other developed countries in the world but it's a pity we have never had good leadership in power since independence.

I smell brilliancy.

Ok

This is more authentic coming from IMF unlike the other time when the government of the day did the calculation and were jumping around celebrating like empty barrel.

See levels:

The United States, China and Japan maintained their spots as the largest economies in the world, with a GDP of $18.561 trillion, $11.391 trillion and $4.73 trillion respectively.

A disgrace to PDP and wailers. Lol... ...but this ain't our best.. ....i believe something is coming up for Nigeria.. ...mean while. ......shun corruption

This is heart-warming. And also heart-wrenching for some folks.

Nigeria has been Africa's largest economy for a long time.
The fact the GDP re-calculation didn't happen for many years doesn't change everyday realities of people in Nigeria.

In other words, it's an empty trophy in the grand scheme of things.

Take a look at your Senator income to GDP ratio, to get an idea where the financial drain is.

Whalers where u?

Ijaya123:
This is heart-warming. And stomach upset for some folks.

Heart warming in what way? Anybody can claim anything...

God forbid... They keep deceiving us & keep giving false hope.The Nigeria i know is dying & people are suffering.



We all are leaving in a Buffer Zone

truth is though our economy dipped, we were never in negative growth. We only slowed down.

I just hope IMF is not trying to run things with FG sha, those fellows can be up to something.

Our population, our advantage! Business opportunities abound in Nigeria, but meant for those that can think out of the box.