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According to the U.S. Department of Agriculture, Nigeria is projected to have the largest economy at more than $1 trillion by 2030

the U.S. Department of Agriculture is saying that, according to their projections, in the next 15 years, Nigeria will continue its lead as the largest economy in Africa.

CNN reports:

    Between now and 2030, experts predict annual growth rates as high as 7.92 percent resulting in a GDP of $1.05 trillion.

    Agriculture, which already makes up 24 percent of the nation’s GDP, is expected to lead Nigeria’s growth.

Global Chief Economist Charles Robertson explains, “A lot of Nigeria’s growth will come from agriculture and services are huge in Nigeria. Banking, retail, telecoms, and Nollywood has been an explosive growth story in past couple of years.”

Here is the full list of African nations– and their projected values — that are expected to share the distinction as the continent’s biggest economies by 2030:

1. Nigeria, $1.05 trillion
2. South Africa, $810.6 billion
3. Egypt, $471.5 billion
4. Algeria, $330.7 billion
5. Angola, $226 billion
6. Morocco, $184 billion
7. Libya, $128.2 billion
8. Ethiopia, $122.3 billion
9. Kenya, $107.5 billion
10. Ghana, $101.4 billion Read More
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The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has been named one of the 50 greatest leaders in the world by globally-acclaimed Fortune Magazine.
Occupying the 33rd spot on the list, the minister was recognised alongside the Liberian President, Ellen Johnson-Sirleaf; Catholic Pontiac, Pope Francis; Chinese President Xi Jinping; Indian Prime Minister, Narendra Modi; Bill and Melinda Gates as well as Facebook Founder Mark Zuckerburg and Apple Chief Executive Officer, Tom Cook.
In the latest edition of the magazine, the minister was described as “a fearless promoter of sound economic policies”, and was also singled out for working hard to usher in a decade in which Nigeria’s GDP trippled.
Fortune Magazine’s annual list celebrates men and women who are transforming lives in all spheres, including government, business and philanthropy.
In compiling the 2015 list, the magazine explained that it gathered advice from more than 24 of the world’s best minds. The leaders were judged by their actions within their professional domain, industries or governance.
“To make this roster, it was not enough to be brilliant, admirable or even supremely powerful. We set out to find singular leaders with vision who moved others to act as well, and who brought their followers with them on a shared quest.
“We looked for effectiveness and commitment and for the courage to pioneer,” the magazine said.
Okonjo-Iweala graduated from Harvard in 1976 and holds a Ph.D in Development Economics from Massachusetts Institute of Technology (MIT) – 1981.
As two-time Finance Minister of Nigeria, she has helped to lay a solid foundation for the Nigerian economy, which is currently the biggest in Africa at $510 billion. Read More
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