Nigeria remains africas biggest economy despite recession imf #

I think there may be some misinformation here.

According to the International Monetary Fund (IMF), Nigeria was indeed the largest economy in Africa in terms of nominal GDP in 2013, but it has since been surpassed by South Africa.

In 2020, the IMF reported that South Africa had a nominal GDP of $274 billion, while Nigeria's nominal GDP was $246 billion.

It's true that Nigeria experienced a recession in 2016, which was caused by a combination of factors including a decline in oil prices, a drop in oil production, and a decline in agricultural production. However, the country has since recovered and has been experiencing economic growth.

In fact, the IMF has projected that Nigeria's economy will continue to grow, with a forecast of 2.5% growth in 2023.

So, while Nigeria is still a significant economy in Africa, it is no longer the largest. That title belongs to South Africa.