Nigeria Retains 4th Position Among Africa’s Largest Economies After GDP Rebasing

By Zulaiha Danjuma

Nigeria’s economy still ranks fourth among the largest growing economies in Africa despite the recalculation of the country’s Gross Domestic Product (GDP)

The National Bureau of Statistics(NBC) released the GDP report on Monday, July 21, 2025.

According to the rebased report by NBC, Nigeria’s nominal GDP increased to N372.82 trillion Naira. However, before the recalculation/rebasing Nigeria’s nominal GDP was $187.75 billion dollars which is approximately N275 trillion Naira based on the exchange rate from that period (2024).

There is a current increase of N97.82 trillion Naira from the previous GDP of approximately N275 trillion Naira to the new GDP figure of N372.82 trillion Naira.

Despite the welcoming increase in the country’s GDP, citizens still decry the lack of immediate impact GDP increase has on direct welfare boost.

According to the NBC report, Nigeria ranks 4th, with Algeria in 3rd with $264.91 billion dollars, Egypt in 2nd with $383.11 billion dollars and South Africa in 1st place with $400.19 billion dollars respectively.