Nigeria's Economy, Once Africa's Biggest, Slips to Fourth Place – Bloomberg

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Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
A trader waits for customers in Lagos, Nigeria.
Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show.
The IMF’s World Economic Outlook estimates Nigeria’s gross domestic product at $253 billion based on current prices this year, lagging energy-rich Algeria at $267 billion, Egypt at $348 billion and South Africa at $373 billion.

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