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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