Nigeria’s finance minister has announced that the country’s recalculated economy is estimated to be $510 billion. The new figures could now mean that Nigeria has overtaken South Africa in the list of Africa’s biggest economies. Speaking to the press, Finance Minister Ngozi Ikonjo-Iweala revealed that the recent figures include previously-uncounted industries such as information and technology, airlines, music, online businesses, Nollywood film production and telecommunications. They had not been included in the previous count conducted in 1990 because they were not existing by then.
By Andrew Wandola