The answer to the question of whether South Africa or Nigeria, the two countries that account for almost half of sub-Saharan Africa’s gross domestic product, is the biggest economy on the continent has long depended on which exchange rate you use for the West African nation.
But now both the official naira rate of 306 per dollar and the weaker market exchange rate of around 360 that almost all investors use put Nigeria tops.
Nigeria’s growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years last year as oil output increased and the central bank took steps to boost credit growth.
source https://www.ladunliadinews.com/2020/03/nigeria-emerges-africas-largest-economy.html
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