This country's GDP jump by 30 percent overnight, becomes fourth-largest economy in..., its not China, US, Japan, the name is...
The Nigerian government has made this change after almost a decade, which has resulted in a noticeable jump in the GDP figures. Here are some of the key details: Nigeria's GDP for 2024 is N372.82 trillion, which is approximately 244 billion dollars.
The amount is much higher than the World Bank's estimated 187.76 billion dollars.
Following this recent change, Nigeria has now become the fourth-largest economy in the African continent, after South Africa, Egypt, and Algeria.
The government here has announced that sectors like the digital services industry, pension funds, and the informal labor market have now been included in the GDP.
It is important to note that the developing countries often adopt this method regularly to portray a larger size of their economy. Experts also stated that such changes are necessary every ten years.
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