Africa has been blessed with lot’s of Natural resources based in Different countries. In fact it is a continent full of Giant countries boasting of Beautiful cities.
Among these countries, there are some above others when it comes to wealth and we are bringing you details of the Richest country in Africa.
Richest Country in Africa
The richest country in the Africa continent is Nigeria With a GDP of $480 Billion. Having been ahead of Egypt and South Africa with a total GDP of $394bn and $329bn.
Read Also: Richest kid in Africa
Why Nigeria is Ranked Richest Country in Africa
The ranking is based on the country’s economic state, precious metals, fertile soil and raw materials.
Nigeria has a population of over 202 million. Nigeria has always been the richest country in Africa since it is blessed bountiful natural resources like crude.
The country usually help other countries through its exportation of crude and it is the leading country in terms of GDP.
The country can boost of having a large percentage of a ready source of Human Resources. This also help the country to reach its position of becoming the richest country in Africa.
Nigeria is well-known as the country that is rich in natural resources, most especially crude oil. In September 2021, the states was producing over 1.4 million barrels of crude oil per day.
Additionally, the country also has other rich elements apart from the crude oil. The state produces natural gas, limestone, niobium, arable land, tin, iron ore and zinc.
Apart from Nigeria, there is another African country that might also become the richest country in Africa as it currently held the second position.
South Africa is also contesting Nigeria with its high GDP. The country is known to be the major exporters of gold, platinum metal, and iron ore.
South Africa is a leading country when it comes to both financial and manufacturing services. However, due to the economic shortcomings globally due to the COVID-19 pandemic, South Africa is also affected but not as much as other poor states.
The third African country is Egypt with over 104 million population, the country has been working tremendously to improve their economic growth.
Egypt has been focusing on wholesale and retail trade, construction, tourism and gas extraction. The country is drastically growing in the production of GDP.
Notwithstanding, Nigeria is the most richest country in the African country as at now. The country reached this position due to the effectiveness of the various states governors working hand in hand with their president.