Nigeria’s GDP Just Doubled on Paper: What It Means in Practice
Harvard Business Review
APRIL 9, 2014
Earlier this week, Nigeria ascended to the position of Africa’s largest economy following a recalculation of its GDP by the country’s National Bureau of Statistics. The long overdue exercise (the last one was in 1990) nearly doubled the country’s economy pushing GDP up to $510bn from $270bn. Nigeria’s Finance Minister Ngozi Okonjo-Iweala mentioned the “psychological impact” of the announcement on foreign investors.