By Adedapo Adesanya Nigeria is likely to lose its status as Africa’s largest economy and drop to fourth place this year after a series of Naira devaluations, International Monetary Fund (IMF) forecast show. According to the IMF’s World Economic Outlook as reported by Bloomberg, Nigeria’s estimated gross domestic product stands at $253 billion based on current prices this year. This means Nigeria is behind North African powerhouses Algeria (3rd) at $267 billion, Egypt at $348 billion (2nd), and South Africa at $373 billion (1st). The report added that South Africa would remain the continent’s largest economy until Egypt reclaims the
Nigeria to Lose Africa’s Largest Economy Status, Drop to Fourth—IMF
