Nigeria’s economy has slipped to fourth place in Africa in 2024, according to the latest IMF report.
South Africa now leads with a substantial $373 billion GDP, followed by Egypt at $347 billion and Algeria at $266 billion.
Nigeria’s economic output stands at $252 billion, falling behind these three nations.
Ethiopia holds fifth place with $205 billion, while Morocco, Kenya, Angola, Côte d’Ivoire, and Tanzania follow with respective GDPs of $152 billion, $104 billion, $92 billion, $86 billion, and $79 billion.
The report underscores a significant shift in the continent’s economic landscape, highlighting the challenges facing Nigeria’s economic growth and stability.
