Nigeria and Egypt are the only African countries projected to be in the top 15 economies by the year 2075

Per projections made by Goldman Sachs, China should lead the global economy in terms of GDP by the year 2075, closely followed by India and the US. Nigeria and Egypt are the only African countries expected to be in the top 15 by that time.

Source:

Goldman Sachs

Period:

2075
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  • At independence in 1960, Nigeria contributed about 10% of Africa’s GDP, establishing itself early as one of the continent’s largest economies.
  • Nigeria’s share peaked at 31% in 1981 during the oil boom, highlighting the dramatic impact of natural resources on the economy.
  • Between the mid-1980s and 2000s, Nigeria’s share fluctuated significantly, dropping to 9.2% in 1999 due to political instability, economic mismanagement, and external shocks.
  • By 2024, Nigeria’s share fell to 7.1%, despite a GDP of $187.8 billion, showing slower relative growth compared to other African economies and the ongoing need for economic diversification.
  • This share reflects Nigeria’s relative position in Africa’s economy over time, showing how it moved in relation to the growth of the rest of the continent.

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