Headlines
Again, Nigeria Emerges Africa’s Biggest Economy As South Africa Enters Recession
Nigeria has overtaken South Africa as the biggest economy in Africa as the latter enters its second recession in two years.
South Africa’s Gross Domestic Product shrank by 1.4 per cent in the fourth quarter of 2019, following a revised 0.8 per cent contraction in the third quarter, data from Statistics South Africa showed on Tuesday.
Nigeria’s GDP grew by 2.55 per cent in Q4 2019, its highest quarterly growth since the recession of 2016.
The country’s economic growth rose by 2.27 per cent in 2019, compared to a growth rate of 1.91 per cent in 2018.
Bloomberg reported on Tuesday that the answer to the question of whether South Africa or Nigeria was the biggest economy on the continent had long depended on which exchange rate you use for the West African nation.
But now both the official naira rate of 306 per dollar and the weaker market exchange rate of around 360 that almost all investors use put Nigeria tops, according to the report.
The report said, “Nigeria’s economic growth beat forecasts in the fourth quarter, helping its economy to expand the most in four years in 2019 as oil output increased and the central bank took steps to boost credit growth. The GDP in the West African country stood at $476bn or $402bn, depending on the rate used.
“South Africa’s economy went the opposite direction. It slumped into a second recession in consecutive years, contracting more than projected in the fourth quarter as power cuts weighed on output and business confidence.
“For the full year, expansion was 0.2 per cent, the least since the global financial crisis, and even less than the central bank and government estimated. Based on an average rand-dollar exchange rate of 14.43 for the year, the GDP was $352bn.”
According to Bloomberg, projections show Nigeria’s economy will continue to grow faster.
It said while the International Monetary Fund cut its forecast for Nigeria’s 2020 growth to two per cent from 2.5 per cent last month due to lower oil prices, South Africa’s GDP was forecast to expand only by 0.8 per cent.
The Punch
The Chief Judge of Rivers State, Justice Simeon Amadi, has declined to set up a judicial panel to investigate Governor Siminalayi Fubara, citing a court order.
The Rivers State House of Assembly had requested that Amadi set up a seven-member panel to probe Fubara and his deputy, Ngozi Odu, over allegations of gross misconduct.
However, in a letter dated January 20 and addressed to the Speaker of the House, Martins Amaewhule, the chief judge cited two court orders barring him from receiving, forwarding, or considering any requests to form such a panel.
The judge stated that the orders were served on his office on January 16, 2026 and remain in force.
The chief judge emphasised that constitutionalism and the rule of law require all authorities to obey subsisting court orders, irrespective of their perception of the orders’ validity.
He referenced legal precedents, noting that in a similar case in 2007, the Chief Judge of Kwara State was condemned for ignoring a restraining court order when setting up an investigative panel, a decision later voided by the Court of Appeal.
Justice Amadi further observed that the Speaker has already filed an appeal against the court orders at the Court of Appeal, adding another layer to the ongoing legal proceedings surrounding the allegations.
“By the doctrine of ‘lis pendens’, parties and the court have to await the outcome of the appeal,” he said.
Justice Amadi further stated that the existence of the injunctions and the pending appeal had effectively tied his hands.
“In view of the foregoing, my hand is fettered, as there are subsisting interim orders of injunction and appeal against the said orders. I am therefore legally disabled at this point from exercising my duties under Section 188(5) of the Constitution in the instant,” he said.
The chief judge appealed to the lawmakers to recognise the legal constraints surrounding the matter.
Justice Amadi, therefore, urged the state assembly to be “magnanimous enough to appreciate the legal position of the matter.”
The Federal High Court sitting in Abuja has reportedly affirmed the removal of Julius Abure as the national chairman of the Labour Party, LP.
The Court also ordered the Independent National Electoral Commission, INEC, to recognize the Senator Nenadi Usman-led National Caretaker Committee as the party’s lawful leadership.
The development was disclosed by human rights lawyer, Inibehe Effiong, in a post on X, where he said he was present at the Federal High Court when the judgment was delivered in a related case.
Effiong stated that Justice Lifu delivering judgment on Wednesday, upheld the Nenadi Usman-led committee as the only valid and lawful leadership of the Labour Party, reaffirming that Abure’s tenure had elapsed in line with an earlier Supreme Court judgment.
The court consequently directed INEC to immediately recognize Nenadi Usman as the party’s leader.
He wrote: “I am currently before the Federal High Court in Abuja for a case. I listened to judgement delivered in an another case.
“Honourable Justice Lifu has just upheld Senator Nnadi Esther Usman-led National Caretaker Committee as the only valid and lawful leadership of the Labour Party.
“The Judge reaffirmed that by the Supreme Court’s judgement, Julius Abure’s tenure had since elapsed.
The Super Eagles of Nigeria defeated Egypt 4-2 on penalties to win the Africa Cup of Nations (AFCON) 2025 third-place playoff on Saturday.
Goalkeeper Stanley Nwabali proved the hero of the night with two crucial saves during the shootout, including one from Egyptian star Mohamed Salah.
Ademola Lookman then calmly converted the decisive penalty to secure the bronze medal —Nigeria’s ninth third-place finish in AFCON history.
With neither side able to break the deadlock in a cagey second half, the game ended 0-0, sending the contest directly to penalties.
Despite Fisayo Dele-Bashiru missing Nigeria’s first kick, Nwabali’s immediate saved from Egypt’s first two attempts shifted the momentum.
