South Africa the Largest Economy in Africa- IMF

The Minister of Budget and National Planning, Senator Udo Udoma, has said that Nigeria’s economy will spring up. This is coming after South Africa has been declared the largest economy in Africa by the International Monetary Fund.

South Africa Overtook Nigeria as the largest economy in Africa after the recently released report by the International monetary fund, which placed South Africa’s Gross Domestic Product at $301bn and that of Nigeria at $296bn.

He said being second place as the largest economy in Africa should drive Nigeria and Nigerians in a positive way to work harder and smarter, in other to bring increased development to Nigeria.

In his words “We are determined to turn this economy around and stimulate private sector investments. Losing our position as the biggest economy in Africa should in some way inspire us to work even harder. Sometimes when you are number two, you are actually more motivated to work hard and we should see it as something that should motivate all of us to work harder.”