In the second quarter of 2014, the government released “rebaised” figures of the economy showing a GDP of $510 billion in 2013 (compared with $270 billion that was previously reported). This clearly confirms Nigeria’s position as the continent’s largest economy with South Africa a distant second.About 40 million Nigerians are in the consuming-class households with an income of more than $7,500 per year. In 2013, the fast-moving consumer goods (FMCG) sector’s contribution to GDP was estimated at $85 billion, with a growth rate of about 12%as opposed to a 7% growth rate in 2012
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