The International Monetary Fund (IMF) has projected Nigeria as the biggest economy in Africa ahead of South Africa and Egypt. This comes at a time when Nigeria is facing its worst economic recession.

Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa in August 2016, following the recalculation of the country’s gross domestic product (GDP).

“A recalculation using current exchange rates put South Africa on top because the rand has strengthened against the dollar,” said BBC.

Consequently, the International Monetary Fund (IMF) has recently estimated Nigeria’s Gross Domestic Product (GDP) at $415.080 billion for 2016, from $493.831 billion as at the end of 2015.

Read more at TheCable