Nigeria tops list of Africa’s richest countries

NDIMUH B. SHANCHO Statistics from the African Development Bank, AfDB, in 2018, has ranked Nigeria as the richest country in Africa. This is thanks to strong oil production and the recovery in world commodity prices. The country’s current-price GDP is expected to reach $ 581 billion this year, up from $ 519 billion in 2016, accounting for more than 72 percent of all West African economies. The second richest country in Africa, coming far behind Nigeria, is South Africa, with a GDP of $ 276 billion, after just recovering from recession in the second quarter. South Africa is immediately followed…