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Nigeria set to pass South Africa as Africa's largest economy

  • Nigeria could be confirmed as Africa's biggest economy on Sunday, overtaking South Africa, when Nigeria's government publishes GDP figures following an overhaul of how the data is calculated.
  • The revision could increase the size of the country's GDP by up to 60% to $384-424B vs South Africa's $384B, London-based Renaissance Capital estimates.
  • However, Nigeria will remain much poorer - per capita GDP is estimated at $2,666 vs $11,255 in South Africa. Nigeria also needs to deal with corruption and weak governance, and invest massively in infrastructure.
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