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Stanlib: Nigeria May Replace South Africa in G20

Chief Economist says Nigeria’s growth rate has accelerated meaningfully

Kevin Lings, Chief Economist at Stanlib revealed that, in their opinion, Nigeria is set to replace South Africa in the G20 in as few as 9 years. Ling points out that, twenty years ago, South Africa’s domestic economy was 7.5 times the size of Nigeria’s. Currently South Africa is merely 1.4 times as prosperous as Nigeria. Speaking to Business Report Ling said…

It is entirely feasible that, by then, Nigeria’s economy will have overtaken South Africa’s, making it eligible for G20 membership, possibly at the expense of South Africa. This narrowing of the gap is mainly because Nigeria’s economic growth rate has accelerated meaningfully in recent years, though off an extremely low base, while South Africa’s growth rate has moderated.

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