Nigeria is now Africa's largest economy

Nigeria becomes Africa's biggest economy

Nigeria "re-based" their economy including previously uncounted industries like telecoms, information technology, music, online sales, airlines, and film production.

Lo and behold Nigeria with Africa's largest population by at least 100% over the second place, is now Africa's largest economy. South Africa with 1/3 of the population has been surpassed.

You wonder how valuable these announcements are to anyone.

Not bad considering the place is such a den of thieves many people will not do business with them.

Well most of Africa is corrupt, but Nigeria elevates to an art. They were all doing fax fraud there before emails were invented.

Quote: Fleastiff

Well most of Africa is corrupt, but Nigeria elevates to an art. They were all doing fax fraud there before emails were invented.

That or there is a lot of royalty needing to get blocked funds out of the country. Somehow most know me.

Consider this headline from about 3 years ago.

2016: when China overtakes the US After more than a century as the world's largest economy, the US will need to adjust to its declining global hegemony Mark Weisbrot theguardian.com, 27 April 2011

On April 2011 the IMF predicted that Gross domestic product based on purchasing-power-parity (PPP) share of world total in 2016, China 18.002% by 2016
USA 17.770% by 2016

By April of 2012 the IMF projection had changed by one year. The year would now be 2017
China 17.653% by 2016 and 18.306% by 2017
USA 17.956% by 2016 and 17.738% by 2018

By April of 2013 the IMF projection was the same. Still 2017, but by a lower margin
China 17.583% by 2016 and 18.2666% by 2017
USA 18.134% by 2016 and 17.941% by 2018

By October of 2013 the IMF projection radically changed. USA was still ahead through the year 2018
China 17.882% by 2018
USA 18.595% by 2018
EMU 11.584% by 2018 (17 countries currently using Euro)

So the IMF makes these predictions twice a year. There are no headlines when the predictions change back to USA having the largest economy for the forseeable future. Given the fact that China has 4-5 times as many people, it should not be a shock that eventually they would surpass the total GDP of the USA. Plus the IMF is using purchasing power parity, so they are adjusting for lower cost of living.

I read that the economy of the Mob in NYC rivals
the economy of the city itself. Should you use the
words economy and Africa in the same sentence?
Don't they cancel each other out?