Wednesday, December 18, 2013

Update to Nigeria GDP figures to current production rates may displace South Africa as largest economy on continent

(Bloomberg) - Nigeria’s plan to rebase its gross domestic production (GDP) figures next year may boost the assessment of the size of its economy by as much as 60 percent, leapfrogging South Africa as the continent’s largest nation in terms of total wealth, Renaissance Capital Ltd. said.

Africa’s biggest oil producer may see its economy measured at between about US$384 billion and US$424 billion in 2014, according to projections by Charles Robertson, the global chief economist at

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