Nigeria is set to overtake South Africa and reclaim its spot as the biggest economy in Africa at the end of the year, the International Monetary Fund has predicted.
In its latest report, the IMF projected that Nigeria’s Gross Domestic Product would hit $415.08bn at the end of this year, from $493.831bn, its value at the end of 2015.
It, however, predicted that South Africa’s GDP would hit $280.367bn for this year, down from $314.732bn it actually recorded a year ago.
Nigeria lost its position as the biggest economy on the continent to South Africa in August this year after the recalculation of the nation’s GDP.
Get The Full Details From << Punch>>
