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Nigeria has changed the way it [measuring / measures] its gross domestic product (GDP) and has [announcements / announced] it is now Africa's largest economy. It is the first time the continent's most [population / populous] nation has claimed the [top / stop] spot. Nigeria "rebased" its gross domestic product data to [incorporate / inculcate] newer industries that were not accounted for under the old GDP measuring [rules / rulers] . The inclusion of sectors such [like / as] telecommunications, information technology, movie production and [inline / online] commerce has pushed the country above the traditional [economic / economically] powerhouse, South Africa. Nigeria's statisticians say GDP for 2013 totalled $510 billion, [consideration / considerably] bigger than South Africa's GDP of $370 billion.

[Rebasing / Debasing] of GDP is what most countries do every three years to account for the economic contributions of new and emerging industries. Nigeria hadn't rebased its economy [in / over] two decades. In this time, many new industries have [blessed / blossomed] . Nigeria's chief statistician Dr Yemi Kale said the new figures do not [meant / mean] Nigerians are suddenly richer. He explained: "It's just about measuring better and more [accurate / accurately] . It does not mean that [within / without] 24 hours, something [miraculous / miracle] has happened." Nigeria's Tribune newspaper wrote: "Although pockets of [fast / vast] wealth exist, most of Nigeria's estimated 170 million people still [live / lively] on $2 a day, while key services such as water and electricity provision are [poverty / poor] ."

 


 
 

 

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