April 10, 2014

Nigeria: Africa's New Number One

The Economist, The Economist

The Associated Press

HEY PRESTO: as if by magic, Nigeria has declared itself the biggest economy in Africa. Overnight, with the wave of a statistical wand, it has added 89% to its GDP, now worth $510 billion, and soared past the previous leader, South Africa, worth $370 billion. Nothing has changed in Nigeria’s real economy, except the way it is measured. Yet the magic matters.

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TAGGED: Africa, Nigeria

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