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Transformation Agenda

Africa: New Data to Show That Nigeria Has Overtaken South Africa as Africa’s Largest Economy -The South African Civil Society Information Service (Johannesburg)

Nigeria is expected to release revised economic figures in December to show that the country has overtaken South Africa as Africa’s largest economy.

The Nigerian economy has been growing faster than the South African economy for some years. In 2012 Nigeria’s economy grew by 6.6% while South Africa’s grew only between 2-3%.

Leonce Ndikumana, a Professor of Economics at the University of Massachusetts, Amherst argues that despite its growth, the Nigerian economy has been growing in the capital-intensive oil sector.

So, while the country has experienced economic expansion, this has not been accompanied by employment creation. In fact the Nigeria’s unemployment problem has worsened – a cautionary note for the kinds of sectors countries should prioritize for investment and expansion.

About TransformationWatch

TransformationWatch is an online news site founded by Henry Omoregie It is focused on keeping tabs on the Transformation Agenda set out by the Nigerian leadership in the Local, State and Federal Governments. My mission is to observe, analyze and report milestones or slowdowns in promised service delivery in all the facets of governance in Nigeria (2011 and beyond). Readership is open to all Nigerians and friends of Nigeria alike, regardless of Tribe, Religion or Political divide. We are all in this together

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