Nigeria’s Economic Boom: A Positive Outcome for Intra-Africa Trade
"The bilateral diplomatic relations between South Africa and Nigeria have for years been characterised in tandem by business co-operation and competition for continental dominance. South Africa has been the leading economy on the continent, followed by Nigeria and Egypt. However, things took a drastic turn in April 2014 when Nigeria’s rebased gross domestic product (GDP) put it ahead of South Africa as the continent’s economic powerhouse. Nigeria’s remarkable economic boom, resulting in an output more than 40% larger than that of South Africa, calls for an effort to assess and forecast possible resultant effects on bilateral relations between South Africa and Nigeria. This brief seeks to reflect on the co-operative and competitive dynamics characterising the bilateral relations between the two countries, and to examine any possible resultant political and economic dividends that may promote the development of both countries and the continent as a whole. It concludes that the economic boom in Nigeria should be viewed within the context of the achievement of NEPAD’s objectives, and goes on to recommend actions for improving bilateral trade between the two countries. It further suggests that Nigeria and South Africa should get OPEC and BRICS to rally behind the aspirations of the African Union on repositioning the continent in global affairs."