What does Nigeria’s new GDP mean?
Much has been said about the recent news that Nigeria has overtaken South Africa as Africa’s largest economy. With a gross domestic product almost doubled after a rebasing calculation, it amounts to more than $500bn. But this data is just an ‘economy of the paper’, argues Engr. Kunle Mokuolu of the Nigerian Society of Engineers. He points out that the real opportunities and challenges lie in the development of energy, infrastructure and transportation sector.