According to the U.S. Department of Agriculture, Nigeria is projected to have the largest economy at more than $1 trillion by 2030. See what other African nations are expected to make the top 10 list, reports CNN.
RELATED: NIGERIA HAS AFRICA’S BIGGEST ECONOMY DUE TO FAST-GROWING INDUSTRIES
Keep Up With Face2Face Africa On Facebook!
With Nigeria just celebrating a peaceful hand over of power between President Goodluck Jonathan and the newly elected Muhammadu Buhari, Islamic militant group Boko Haram seemingly losing its claimed territory by the day, and already the largest GDP in Africa, the most-populous nation’s future looks especially bright.
Now the U.S. Department of Agriculture is saying that, according to their projections, in the next 15 years, Nigeria will continue its lead as the largest economy in Africa.
Between now and 2030, experts predict annual growth rates as high as 7.92 percent resulting in a GDP of $1.05 trillion.
Agriculture, which already makes up 24 percent of the nation’s GDP, is expected to lead Nigeria’s growth.
Global Chief Economist Charles Robertson explains, “A lot of Nigeria’s growth will come from agriculture and services are huge in Nigeria. Banking, retail, telecoms, and Nollywood has been an explosive growth story in past couple of years.”
Here is the full list of African nations– and their projected values — that are expected to share the distinction as the continent’s biggest economies by 2030:
1. Nigeria, $1.05 trillion
2. South Africa, $810.6 billion
3. Egypt, $471.5 billion
4. Algeria, $330.7 billion
5. Angola, $226 billion
6. Morocco, $184 billion
7. Libya, $128.2 billion
8. Ethiopia, $122.3 billion
9. Kenya, $107.5 billion
10. Ghana, $101.4 billion
RELATED: KENYA NOW RANKED 4TH LARGEST ECONOMY IN AFRICA
An 18-year-old Ugandan student who bagged a 3.94 grade point average is one of the…
John P. Shadbar, an Illinois resident, has been arrested and charged with a hate crime…
A New York City mother, Melissa Arzu, has dragged American Airlines to court after her…
Ernest Manning Jr is reportedly behind the first black-owned voice messaging app with a large…
Meet father-son duo John and Joshua Johnson; they are behind a multi-million-dollar furniture and interior…
Drake suffered a major gambling loss on Saturday night after betting $565,000 on Tyson Fury…
Deion Sanders recently revealed why he rejected a shoe brand deal from the British Knights…
Renowned Nigerian-American artist Kehinde Wiley has refuted allegations of sexual assault brought against him by…
Kelli Higgins was offered admission to many esteemed universities, including the University of Pennsylvania, Yale…
Authorities in Arizona announced the arrest of a convicted sex offender who allegedly faked his…
Embattled music executive Sean “Diddy” Combs took to social media on Sunday to issue an…
The true face of Amenhotep III, the pharaoh who ruled ancient Egypt at its zenith…
Derrick Hayes is the founder of Big Dave’s Cheesesteaks, one of the fastest-growing businesses in…
After a challenging academic path, Ron Lewis Jr. is on track to graduate with a…
It has emerged that singer Beyoncé made sure Vice President Kamala Harris experienced the magic…