Nigeria, April 26 -- Nigeria has plunged to the fourth position on the list of top African countries by gross domestic product (GDP), a measure of the monetary value of all finished goods and services produced in the countries at a particular period.

Afreximbank Research, the research and data unit of Cairo-based African Export-Import Bank, highlighted on X (formerly Twitter) on Friday International Monetary Fund (IMF)'s ranking of Africa's top countries by GDP for 2024.

Nigeria, which until 2023 was the continent's biggest, fell to the fourth position after two sharp devaluations of its currency shrank its GDP by more than half, causing the naira to lose roughly 70 per cent of its value against the dollar.

The country's rebased GDP da...