Browsing: GDP

Nigeria’s economy, which was Africa’s largest in 2022, is projected to slip to fourth place this year following a series of currency devaluations, according to forecasts from the International Monetary Fund in their World Economic Outlook reported by Bloomberg. The country’s gross domestic product for this year is estimated at $253 billion at current prices, placing it behind North African powerhouses Algeria at $267 billion, Egypt at $348 billion, and South Africa at $373 billion.

Statistics Canada pointed to a rebound in the public sector, tied largely to the end of strikes in Quebec, as driving economic growth in January.

The head of the National Metallurgical Development Centre, Jos, Plateau State, Prof Linus Asuquo, mentioned that the country's 0.5% Gross Domestic Product for research and development is not enough to make significant progress. He stated that for the country to make real progress, it is not encouraging to spend less than […]