Nigeria has been confirmed as Africa’s fourth-largest economy despite previous rebasing exercises that significantly expanded the country’s GDP figures.
According to recent projections by the International Monetary Fund (IMF), Nigeria’s economy is expected to reach approximately $188.27 billion in 2025, placing it behind South Africa, Egypt, and Algeria.
South Africa leads the continent with a projected GDP of $410.34 billion, followed by Egypt at $347.34 billion and Algeria at $268.89 billion.
Nigeria’s position reflects an economic shift since the 2015 GDP rebasing, which temporarily catapulted it to the top spot by accounting for industries previously unmeasured, such as telecommunications, information technology, music, and film production.
Despite its sizeable total GDP and status as Africa’s most populous nation, Nigeria’s GDP per capita remains low, at around $807, ranking it among the world’s poorest countries by this metric. This highlights enduring challenges of economic inequality and underdevelopment within the country.
Experts point to Africa’s fragmented economies and artificial colonial borders as obstacles to greater regional integration and growth.
At a pre-press briefing ahead of the International Conference on Africa’s Democracy (ICAD), leaders emphasized the need for stronger institutions, credible elections, and economic sovereignty to reduce dependence on foreign aid and stimulate sustainable development.
The ICAD conference, set for July 22-23 in Abuja, will feature prominent leaders including former Kenyan Prime Minister Raila Odinga, Nigerian Vice President Kashim Shettima, and Speaker of the House Tajudeen Abbas.
The event aims to foster a permanent platform for dialogue, innovation, and accountability in African governance and development.
While Nigeria remains a critical economic player on the continent, these trends signal ongoing dynamics affecting its position and the broader African economic landscape.
