Nigeria has fallen to fourth position among Africa's largest economies, according to fresh 2024 figures from the International Monetary Fund (IMF), spotlighted by Afreximbank Research.South Africa now leads with a projected GDP of $400.19 billion, fol… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader Nigeria tumbles to 4th in Africa's economic rankings – IMF By Busola Bamidele on April 26, 2025 Nigeria has fallen to fourth position among Africa's largest economies, according to fresh 2024 figures from the International Monetary Fund (IMF), spotlighted by Afreximbank Research. South Africa now leads with a projected GDP of $400.19 billion, followed by Egypt ($383.11 billion) and Algeria ($264.91 billion), buoyed by strong public investment and hydrocarbon revenues. Nigeria trails with a GDP of $187.64 billion, reflecting the ongoing toll of inflation, currency instability, and deep macroeconomic imbalances. Despite its vast resources and large population, Nigeria's economic growth is projected to slow further to 3.0% in 2025 and 2.7% in 2026 amid persistent global and local challenges. The latest IMF rankings show Morocco in fifth place, while Ethiopia, Kenya, Angola, Côte d'Ivoire, and Ghana complete Africa's top 10 economies. Afreximbank noted that the shifting landscape offers vital lessons for policymakers and investors, with North and East Africa emerging as rising economic hubs.

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The Federal Ministry of Agriculture and Rural Development has partnered with Wardiere Oakmount Development to empower 4,000 farmers in Abuja under the "Operation Feed the Nation" scheme.The collaboration will provide sideline support and farmlands in Ku… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FG empower 4,000 farmers to boost food production By Busola Bamidele on April 26, 2025 The Federal Ministry of Agriculture and Rural Development has partnered with Wardiere Oakmount Development to empower 4,000 farmers in Abuja under the "Operation Feed the Nation" scheme. The collaboration will provide sideline support and farmlands in Kuje for farmers to cultivate crops such as cashew, cocoa, maize, palm trees, rice, millet, yam, and beans. According to the partners, the move aligns with President Bola Tinubu's drive for national food sufficiency. Chairman of Wardiere Oakmount, Kunle Ilori, in a statement, described the project as part of efforts to support the Renewed Hope Agenda and impact 25,000 low-income Nigerians through various initiatives. Read also: FG empower 4,000 farmers to boost food production FG partners World Bank to empower youth, boost job opportunities – Finance Minister FG launches agribusiness policy to tackle food inflation, empower small farmers APPLY NOW: Business development manager NEC backs agribusiness push, revives textile board to drive economy "My joy knows no bounds as we begin this project to boost food production and empower the needy," Ilori said, commending President Tinubu's bold leadership. He also urged government action against fraudulent schemes like the CBEX scam, calling for better public enlightenment on safe investments. Ilori encouraged Nigerian youths to explore real estate investment, describing it as a sector with "100 per cent return on investment."

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The Federal Government is collaborating with the World Bank to drive job creation for young Nigerians, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said.Speaking at the World Bank/IMF Spring Meetings in Washington D.C., E… Read on blog or Reader SMALL BUSINESS INSIGHTS Read on blog or Reader FG partners World Bank to empower youth, boost job opportunities – Finance Minister By Busola Bamidele on April 26, 2025 The Federal Government is collaborating with the World Bank to drive job creation for young Nigerians, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said. Speaking at the World Bank/IMF Spring Meetings in Washington D.C., Edun revealed that the Bank's Governors,  mainly Finance Ministers of member countries , have resolved to make employment generation a key development priority. He noted that this aligns with President Bola Tinubu's Renewed Hope Agenda, which places job creation at the heart of economic reforms. Read also: FG partners World Bank to empower youth, boost job opportunities – Finance Minister FG launches agribusiness policy to tackle food inflation, empower small farmers APPLY NOW: Business development manager NEC backs agribusiness push, revives textile board to drive economy APPLY NOW: Consultant orthopaedic surgeon Edun stressed that Nigeria is focusing on unlocking private investment, boosting productivity, and rolling out digital infrastructure to empower the youth. "Access to internet and fibre-optic networks will allow young Nigerians to thrive in the digital economy," he said. He reaffirmed that creating high-quality jobs remains the most sustainable way to tackle poverty and inequality, adding that it would help retain talent and foster inclusive growth. The partnership signals a unified push toward building a resilient, digital-ready workforce.

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