By Segun Odeleye
Following Sunday’s rebasing of the Nigerian economy, the nation’s GDP rose to $509 billion in 2013, a leap which took Nigeria above South Africa as Africa’s number one economy.
The new GDP is a whopping 89% larger than the old one based on a 1990 price base. The new GDP is based on a 2010 price base.
Other African countries have also had their numbers increased after rebasing. The graphs below show Nigeria’s new position atop the pile as well as the percent change in GDP after rebasing exercises were carried out in selected countries in the continent.
H/T to The Economist for the graphs: