Even with the spate of insecurity, high rate of inflation, unemployment and recessions, the 2021 World Population Review of World Bank rates Nigeria as the richest African country with a Gross Domestic Product (GDP) of $514.05 billion.
Nigeria is followed by Egypt with $394.28 billion, South Africa ($329.53 billion), Algeria ($151.46 billion), Morocco ($124 billion), Kenya ($106.04 billion), Ethiopia ($93.97 billion), Ghana ($74.26 billion), Ivory Coast ($70.99 billion) and Angola with $66.49 billion
“Many of the world’s poorest nations are in Africa. Most economies are unstable, and poverty is widespread. There are, however, some African countries that have the fastest-growing economies in the world. The largest components of the African economy are agriculture, trade, and natural resources, and the African economy is expected to reach a GDP of $29 trillion by 2050”, the document says, adding that there are several ways to compare a nation’s wealth and one of the best ways to measure it is by taking a look at the purchasing gross domestic product or GDP of a nation…
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