Nigeria may emerge 13th leading economy in the world by2050 – Report

A report released by international accounting firm,
PricewaterhouseCoopers (PwC) has revealed that Nigeria may
occupy the 13th position as one of the leading G20 economies
in the World by 2050.
The PwC 2013 report disclosed that with Nigeria’s projected
rise in Purchasing Power Parity (PPP), in terms of Gross
Domestic Product (GDP), from $2.6 billion to $3.9 billion by
2050, Nigeria is on its way to becoming one of the top 20
leading economies by the projected year.
According to the report, titled: “World in 2050 The BRICs
and Beyond: Prospects, Challenges and Opportunities”, a
yearly average real GDP growth rate of around six per cent,
as well as a youthful and growing working population will help
the country achieve this feat.
It reads in part: “Nigeria could be the fastest growing
country in our sample due to its youthful and growing working
population, but this does rely on using its oil wealth to
develop a broader based economy with better infrastructure
and institutions as regards rule of law and political
governance and hence support long term productivity growth
– the potential is there, but it remains to be realised in
practice.”

Culled from http://www.ventures-africa.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s