Nume Ekeghe with agency report
A South African economist, Dr Martyn Davie yesterday predicted that the Nigerian economy will hit N1 trillion by 2025.

Davies, who is the Chief Executive Officer (CEO) of Frontier Advisory Limited, was quoted by the News Agency of Nigeria (NAN) to have made the prediction at the opening of the 2014 Africa Hotel Investment Forum in Addis Ababa, Ethiopia.

Frontier Advisory is a leading research, strategy and advisory firm that specialised in Global emerging markets.

He noted that the Nigeria’s economy being the largest on the African continent in terms of size is currently leading South Africa by 20 per cent.

Davies, however, advised Nigeria to take advantage of her demography and invest to diversify its economy, which is largely dependent on oil export.

“The political economy of Africa is increasingly becoming complex, making the Africa rising narrative no longer applicable as development needs, when viewed through multiple lenses,’’ he said.

According to him, GDP was no longer a measure for growth, saying growth had become complex comprising of diversification and quality not just quantity.

Davies insisted that both government and the private sector must invest heavily in basic infrastructure and manufacturing to hasten industrialisation, and sustain its growth among emerging economies.

The expert also canvassed for economic friendly legislation to attract investments given the advantage of population of young persons and markets.
Besides, he urged African countries to address the security challenges that would attract Direct Foreign Investments (DFI) and speed up growth.

Davies also expressed concern over the slow pace of the continent’s economy growth saddled by fragmented markets due to cultural and language barriers among nations.

He said Ethiopia and Kenya would also hit 100 billion dollar benchmark between2025 and 2027, given their pace of growth in the East African region.

According to NAN, no fewer than 500 hotel operators, managers and developers as well as government officials from 24 countries, including Nigeria, are attending the conference.

Nigeria was recently ranked far ahead of its peers on the continent based on the strength of the country’s macroeconomic indicators.
A Lagos-based research and financial advisory firm, Renaissance Capital (RenCap) had highlighted the country’s improving external position (9 to 10 months of import cover) and a small fiscal deficit (1 to 2 per cent of GDP), as major factors driving its macroeconomic growth.

Nigeria, in April this year, rebased its gross domestic product (GDP), which saw estimates hitting $509.9 billion.



http://www.thisdaylive.com/articles/-nigerian-economy-to-hit-1tn-by-2025-/190312/

It is expected. With our population and our GDP growth rate(7.3% annual growth) we don't need a prophet to tell us. This GDP-ish is too stale! There are many countries with lesser GDP than ours but are more wealthy than us. They should find another way to measure the wealth of a Nation. Even when we clock a trillion it would still be reflected only on papers to the common man.

Idrismusty97: It is expected. With our population and our GDP growth rate(7.3% annual growth) we don't need a prophet to tell us. This GDP-ish is too stale! There are many countries with lesser GDP than ours but are more wealthy than us. They should find another way to measure the wealth of a Nation. Even when we clock a trillion it would still be reflected only on papers to the common man.

The man predicted a possible future size of Nigeria economy in dollars, where you saw GDP in his report, I don't know.

PhockPhockMan: The man predicted a possible future size of Nigeria economy in dollars, where you saw GDP in his report, I don't know.

What else is Nigeria economy if not GDP? Is it our annual revenue that is just over $50bn? Will that skyrocket to $1trillion in just 10 years? GDP was mentioned three times in the report. He also said "Ethiopia and Kenya would hit 100 billion dollar benchmark between 2025 and 2027 given their pace of growth." Right now the GDP of Ethiopia and Kenya is $46.87bn and $44.1bn respectively. So he is definitely speaking on GDP.

According to him, GDP was no longer a measure for growth, saying growth had become complex comprising of diversification and quality not just quantity.

Nigeria, in April this year, rebased its gross domestic product (GDP), which saw estimates hitting $509.9 billion.

Future Impossible tense!.

Why?--This is because,we av' people like T.A Orji,recieving prestigeous National award,from a president,who said that corruption isn't stealing .

(Don't qoute me,i av' the right to objectively criticize Jonathan).

No one ever doubted the strength of the Nigerian economy, all what is of concern to me and most persons is the distribution of this wealth across the country...

patrickmuf: No one ever doubted the strength of the Nigerian economy, all what is of concern to me and most persons is the distribution of this wealth across the country...

History shows us that the more wealth is generated in a nation, the more wealth 'filters down' to the common man. This is what happened in China, South Korea etc. And even in Europe, where a hundred years ago, the masses were dying of cold and malutrition as monarchs and lords lived ostentatiously. But as they grew in wealth, the benefits (slowly) began to filter to the masses to the point they are today.

ROSSIKE:

History shows us that the more wealth is generated in a nation, the more wealth 'filters down' to the common man. This is what happened in China, South Korea etc. And even in Europe, where a hundred years ago, the masses were dying of cold and malutrition as monarchs and lords lived ostentatiously. But as they grew in wealth, the benefits (slowly) began to filter to the masses to the point they are today.

Guy do you understand that what you typed has no economic truth attached to it.

at the current momentum, (i.e. demography, democracy, minimizing dependence on oil, massive private sector investment both from within and foreign), Nigeria's economy should be doubling every 10 years for the next 40-50 years.
i'm particularly optimistic for Nigeria.
we are getting there slowly but steadily.

EasternLeopard:


Guy do you understand that what you typed has no economic truth attached to it.

Err...actually no I don't ''understand'' that at all. Do explain.

Idrismusty97: It is expected. With our population and our GDP growth rate(7.3% annual growth) we don't need a prophet to tell us. This GDP-ish is too stale! There are many countries with lesser GDP than ours but are more wealthy than us. They should find another way to measure the wealth of a Nation. Even when we clock a trillion it would still be reflected only on papers to the common man.

No we don't need a prophet to tell us that if we REBASE our economy from 300 to 500 and we were growing at 7% then the new growth index is more like 4% which is indeed abysmal and not likely to take us anywhere the 1000 mark

iwonbaoko:

No we don't need a prophet to tell us that if we REBASE our economy from 300 to 500 and we were growing at 7% then the new growth index is more like 4% which is indeed abysmal and not likely to take us anywhere the 1000 mark

I don’t understand you.

before we can get there we need to solve our power problem. if we had have constant power we should be talking about $700-800Billion now. after all our mates during independent Brazil have pass the $1trillion mark

The truth is even with the rebase nigerias gdp is still underestimated

hunter21: The truth is even with the rebase nigerias gdp is still underestimated

I'm with you on this.

Donmarrius: Future Impossible tense!.

Why?--This is because,we av' people like T.A Orji,recieving prestigeous National award,from a president,who said that corruption isn't stealing .

(Don't qoute me,i av' the right to objectively criticize Jonathan).

What brought Theodore Orji for this matter?

https://www.youtube.com/watch?v=Ayi-FD53vkw

[size=15pt]Nigeria's Trillion Dollar Economy[/size]

Nigeria could actually be a trillion-dollar economy. That's the message, many economic-experts and stake-holders are sending, after the recent-rebasing, of the calculation, of what is now Africa's largest-economy. Research indicates, that Nigeria has one of the largest, informal-economies in the world... and that, this..is yet to be captured, in gross domestic product calculations.

Until Then.

Longeria post=/post/26829631:
What brought Theodore Orji for this matter?

Are you an illitrate?.
When you read a statement that says '...people like so so and so',what does it mean?.
Besides,is he a kinda 'god',that i won't mention his name?.Mtchwww!

PhockPhockMan post=/post/26786043:
The man predicted a possible future size of Nigeria economy in dollars, where you saw GDP in his report, I don't know.

Look at this bloody illiterate

ISpiksDaTroof post=/post/26831667:
Look at this bloody illiterate

MUMU.

ROSSIKE post=/post/26786902:


History shows us that the more wealth is generated in a nation, the more wealth 'filters down' to the common man. This is what happened in China, South Korea etc. And even in Europe, where a hundred years ago, the masses were dying of cold and malutrition as monarchs and lords lived ostentatiously. But as they grew in wealth, the benefits (slowly) began to filter to the masses to the point they are today.

And what do you call all the money generated these years from past to present leadership? Not sufficient enough to filter down to the masses i guess. The pre-requisite to ensure the masses benefit and participate actively in an emerging economy is for investment in infracture be made a key policy and priority. Until that is done, billions will be realised and embezzled without trace.

THE MONEY WE GO SEE OR THE ONE THE GOVERNMENT WILL EAT ALONE?

Lordlexyy: And what do you call all the money generated these years from past to present leadership? Not sufficient enough to filter down to the masses i guess. The pre-requisite to ensure the masses benefit and participate actively in an emerging economy is for investment in infracture be made a key policy and priority. Until that is done, billions will be realised and embezzled without trace.

Spot on.