Nigeria’s economy, once Africa’s largest, is forecasted to slip to the fourth position due to currency devaluations.
The IMF projects Nigeria’s GDP at $253 billion, ranking behind Algeria, Egypt, and South Africa. Egypt is expected to surpass South Africa as the continent’s largest economy by 2027.
Nigeria faces economic challenges following policy reforms by President Tinubu, including subsidy removal and Naira devaluation. Egypt and South Africa have also made currency adjustments to attract investment.
