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NIGERIA BECOMES AFRICA’S LARGEST ECONOMY

Nigeria’s recalculation of gross domestic product data to include Nollywood nudges country well ahead of South Africa Nigeria has overtaken South Africa as the continent’s largest economy after it overhauled its gross domestic product data for the first time in more than two decades. Official figures for 2013, released by Nigeria’s statistics bureau in collaboration with the World Bank, put the country’s GDP at USD503bn (£307bn) – nearly double previous estimates and well ahead of South Africa at around USD350bn.

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