Nigeria has reclaimed its position as Africa's largest economy. IMF World Economic Outlook data shows Nigeria's GDP at $526.4 billion in 2025 versus South Africa's $419.2 billion — a $107 billion gap.
The IMF cited three drivers: oil production recovery to 1.72 million barrels/day, rapid growth of Nigeria's services sector (fintech, telecoms, e-commerce), and the base effect of naira devaluation inflating dollar-denominated GDP.
"Nigeria's economy is increasingly diversified beyond oil. The fintech sector alone contributed $48 billion in value added in 2024," wrote IMF Africa Director Dr. Abebe Aemro Selassie.
The World Bank confirmed Nigeria became Africa's largest FDI recipient in Q1 2025 with $8.2 billion in inflows — 62% directed to technology and financial services.