Africa is a quickly developing continent with many countries getting wealthier and wealthier. One of those countries is Nigeria, which is now considered the richest nation in Africa based on overall GDP. According to the World Population Review, Nigeria’s GDP in 2025 stands at over $440 billion (£326 billion).
GDP, or gross domestic product, is the total value of all goods and services produced by a country in a given year. It’s one of the main ways to compare the size and strength of different economies. Nigeria has the largest population in Africa, with around 237 million people helping to fuel its economy.
The country has a mixed economy, with big industries including oil, agriculture, and a growing tech sector.
Much of the country’s wealth comes from oil reserves, but other areas such as telecommunications and manufacturing also contribute.
Nigeria’s large population creates a massive domestic market, which helps boost economic growth.
However, Nigeria still faces some big challenges. According to the World Bank, the country is dealing with insecurity in the north and separatist movements in the southeast.
Many Nigerians also live in poverty, and the unemployment rate remains high. An estimated 87 million people live below the poverty line.
President Bola Ahmed Tinubu, who took office in May 2023, has promised to turn the country’s economy around.
Since then, Nigeria has introduced a number of reforms aimed at stabilising the economy.
These include removing costly fuel subsidies and allowing the currency to float at market rates.
Inflation remains high, but officials hope tighter economic controls and cash support for vulnerable households will improve conditions over time.
Despite the challenges, Nigeria continues to grow. Experts say the new reforms are helping rebuild “international confidence” and could make Nigeria more attractive for foreign investment in the future.
Nigeria is also home to one of the world’s biggest and fastest-growing cities, Lagos.
The city’s population in 2025 is estimated at over 17 million.
It’s already one of the six most populated megacities on the planet, and Ontario Tech University in Canada predicts it could become the world’s biggest by the end of the century, with as many as 100 million people.
Lagos is Nigeria’s so-called “economic engine”. It’s the financial capital of the nation and is home to industries like banking, entertainment, and tech.
People from across the country and beyond move there in search of jobs and opportunities.
But with rapid growth comes problems. The city faces challenges such as heavy traffic, pollution, and a lack of housing.
Nonetheless, developers are hoping to transform Lagos into a ‘second Dubai’, with modern buildings and tourist attractions.
Lagos covers around 1,200 square miles and has an annual population growth rate of 6%.