Abstract: Nigeria's economic growth is closely related with rise and fall of the oil price in the world market, GDP grew rapidly in the 1970s because of oil boom and super cycle of commodity since 1999, while grew slowly or even negatively in the 1980s and 1990s because of oil price downturn. From 1999 to 2013, under the leadership of Obasanjo, Yar'Adua and Jonathan, Nigeria achieved 15-year high growth, and laid foundation for sustainable development. In April 2014, Nigeria announced adjustment of statistical base year, 2013 annual GDP increased by 89.2% to $ 509.9 billion and overtook South Africa as Africa's largest economy. South Africa's economy is more diversified and mature, but fiscal deficit, international trade deficits and frequent strikes resulted in low growth in recent years. With huge population, resources, and market potential, Nigeria shows good momentum of high growth rates, large trade surpluses, lower inflation, and controllable fiscal deficit, and qualifies for conditions of sustainable growth. The shift in economic size between the two countries is changing the economic structure and investment territory in African. Based on the Nigerian economic data from 1970 to 2013, the main symptoms of "Dutch disease" in Nigeria are analysed, including excessive reliance on the oil industry, severe de-industrialization and de-agriculturalization, low savings ratio, low investment efficiency, and serious multiple social problems such as concentration of wealth, inefficient government, corruption, rent-seeking, pauperization growth, insufficient infrastructure, rampant extremist and terrorist groups, etc.. In order to cure the "Dutch disease" in Nigeria, measures to be taken including to promote economic diversification, to develop agriculture, labor-intensive manufacturing, and oil refining, to increase investment in infrastructure and human resources, to improve the institution quality and implementation efficiency, and to create the circumstance for sustainable growth.