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Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc - Business - Nairaland

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Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Truth234(m): 5:40am On Jul 19, 2017
Economists at PricewaterhouseCoopers (PwC) have projected that Nigeria could emerge the 14th largest economy in the world by 2050 with Gross domestic product (GDP) of $3.3 trillion.

PwC made this projection in a special report titled: ‘Boosting Investments: Nigeria’s path to growth’, obtained on Monday. The company said to deliver sustainable growth with per capita gains, Nigeria needs to aggressively boost domestic and foreign investments over the next decade.

According to PwC, while nation’s economy fell into a recession for the first time since 1991 last year, recent string of economic releases suggest that the economy might have bottomed out with fragile signs of recovery, driven largely by improved liquidity in the foreign exchange markets and policy measures to improve the business environment.

The company, which said foreign exchange regime remains the key to stimulating investment, explained that the report which examined Nigeria’s Economic Recovery and Growth Plan (ERGP) identified two critical factors for unlocking private investment-improving the business environment, and having a sustainable foreign exchange regime.

“We note that the country has made some progress towards improving the business environment through several reforms, including a 60-day action plan implemented over the past six months. However, more needs to be done, in particular, with respect to paying taxes, getting access to electricity and other infrastructure, which are critical to bolster investment,” PwC said.

The report added that while foreign exchange liquidity has improved in recent times as the Central Bank of Nigeria (CBN) allows for more flexibility in the foreign exchange market, the existence of multiple exchange rates with significant variances poses a risk to investment.

“In our view, a market-determined exchange rate, where all rates are harmonised, is fundamental to boosting domestic and foreign investments,” PwC said.

Speaking on impact of exchange rate flexibility on investment and economic growth, PwC said a number of academic literature have shown the positive impact of exchange rate flexibility on investment and economic growth.

“Broadly, it has been argued that a flexible exchange rate regime has a positive effect on investment and economic growth compared to a fixed or intermediate regime. Ihnatov and Capraru (2012) using data from 16 Central and Eastern European Countries find that flexible exchange rate regimes have a superior positive effect on growth in per-capita GDP relative to intermediate and 4 fixed regimes.

Levy-Yeyati and Federico Sturzenegger (2003) studied the relationship between exchange rate regimes and economic growth using a sample of 183 countries, and finds that median annual real GDP per capita growth for floaters was 0.7 percentage points higher than pegs. For developing countries, less flexible exchange rate regimes were associated with slower growth, as well as with greater 5 output fluctuations.

“ Eregha (2017) also studied the impact of exchange rate regime on FDI in the West African Monetary Zone using data for the period of 1980 t0 2014 and finds that exchange rate uncertainty suppressed FDI inflows to the selected countries, and the magnitude of the impact was significantly high,” the report said.

http://investorsking.com/nigerias-gdp-hit-3-3-trillion-2050-says-pwc/
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Atiku2019: 6:28am On Jul 19, 2017
Amen cool

Surely with an Atiku from 2019 ---- 2027 its possible cool

3 Likes

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by choky26(m): 6:59am On Jul 19, 2017
smiley
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Nobody: 7:00am On Jul 19, 2017
with the level of corruption and lies prevalent in this country, i will not be surprised if in 2050 nigeria's GDP hits -3.3 trillion undecided

1 Like

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by pepemendy(m): 7:00am On Jul 19, 2017
yeye dey smell...hw u take no say nigeria go even reach 2020....odua republic on my mind

4 Likes

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by massinola(m): 7:01am On Jul 19, 2017
This prediction can only come if this mistake of a party called APC is booted out soon. With all the square pegs in round holes in the names of ministers and appointment by this government, we can't even come close to top 100 in 2070. Not when 16+6 is still equal to 24.

Meanwhile, this fine geh come ma house yesterday. We start de gist. Girl raise your skirt abeg, na e the girl begin tell me how she's a virgin. Ogbeni raise ur skirt I de find my remote.

10 Likes 1 Share

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by stevejomo(m): 7:02am On Jul 19, 2017
the kind thunder wey go strike PwC!

1 Like

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by DonatusAdorns(m): 7:02am On Jul 19, 2017
.
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Nobody: 7:02am On Jul 19, 2017
Lies. Oil for don cast by den
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Moreoffaith(m): 7:04am On Jul 19, 2017
Okay.
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Atiku2019: 7:04am On Jul 19, 2017
Sniper12:
Lies. Oil for don cast by den
Don't give up my Brother, it's possible
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Suntemi(m): 7:05am On Jul 19, 2017
With our economic uncertainty? We can't even predict 5 years correctly, they are talking 33 years.

4 Likes

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by deepwater(f): 7:05am On Jul 19, 2017
Atiku2019:
Amen cool Surely with an Atiku from 2019 ---- 2027 its possible cool
Guy u must be learner in the act of advertising, your picture below depicts failure and inability to accept responsibility.

In the pics, Atiku looks like he goofed so badly that his board members had to stand up and say, Oga, my hand no dey inside, na u say make we do am like this that year and we warned you severely. Now see yourself. I can not be held responsible for this. you alone will go to JAIL as in KIRIKIRI.

Tell your boss to learn how to pose for the cams like a boss undecided

15 Likes 1 Share

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Atiku2019: 7:05am On Jul 19, 2017
stevejomo:
the kind thunder wey go strike PwC!


Nothing is impossible Bro
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by burkingx(f): 7:06am On Jul 19, 2017
cheesy
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Oladelson(m): 7:06am On Jul 19, 2017
is okay!
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by merits(m): 7:06am On Jul 19, 2017
Atiku2019:
Amen cool


Surely with an Atiku from 2019 ---- 2027 its possible cool
.you dey shout atiku now oo,later una go still condemn him and find fault in him in the nearest future.na so its start from obasanjo,yar adua,Jonathan, buhari say baba,now atiku is the next prey to condemn.chaiiii nobody can please Nigeria people no matter what you do for them.
Nigeria=condemned country.

3 Likes

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by chinawapz(m): 7:10am On Jul 19, 2017
they never solve 2017 matter dem they think of 2050 own. For your web design/web development, Call or WhatsApp 08130767357
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Hiccups: 7:10am On Jul 19, 2017
grin grin Hopefully, but definitely not with the current leaders in charge of affairs
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by nextprince: 7:10am On Jul 19, 2017
I no even understand wetin dem mean by dis statement.

Nigeria GDP = $3.3 trillion by 2050, what exactly does that mean in a layman English?
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Costello559(m): 7:12am On Jul 19, 2017
Hehehehe.. Story for the gods.... So far it is "TO HIT" No way...

Nigeria is a country where two opposition parties fight and gamble with the country's resources and economy....


We will make it until our mumu politicians understand what leadership is...
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by ehispapa(m): 7:12am On Jul 19, 2017
and 3.1t will be looted out
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by pelumi111: 7:13am On Jul 19, 2017
kk
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by opalu: 7:13am On Jul 19, 2017
Every year the Government floats bonds which are heavily subscribed. Bonds are guaranteed investments whereby funds are raised for specific investments. The bonds must be tied to concrete clear-cut Projects. So that the FG or whoever is raising the Bond can track progress and repayments years later. 
For instance, Bond to build modern superfast rail from Lagos to Ibadan. (5yrs tenor) Another one from Ibadan to Lokoja.(10 yr tenor) And another one for Lokoja to Abuja. (5year tenor). Same can be done for other projects across.

If this is how bonds are raised and executed, Nigeria would have been among the 10 best developed nations. All these funds they borrow that is been plunged into funding padded budget which has an untouchable N250B for NASS alone not to talk of that for judiciary and Executive excesses.
We must design things to fit our peculiar need not copy hook line and sinker. That purpose for raising bond MUST be able to repay itself and also give the nation value with profit. For instance, by building the Lagos-Ibadan rail, you automatically crash the cost of rents and land in Lagos because 40% of those working in lagos will move to Oyo state to live easier and cheaper lifestyles since the ultra modern train services between Lagos and Ibadan will cut travels from 3hrs to 30mins

3 Likes

Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by iluvpomo(m): 7:15am On Jul 19, 2017
Isn't our population also projected to reach 300 million then ?? .... wahala oh!
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Coyotejack(m): 7:17am On Jul 19, 2017
All na propaganda
Yet dey smell
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by omoadeleye(m): 7:18am On Jul 19, 2017
they should leave future and concentrate on the present jur, how many of them speculating on 2050 will witness the year? they should do the f""ucking work while they are still alive, mission 2020 had been dumped inside septic tank.
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by Samirana360(m): 7:18am On Jul 19, 2017
person never c food chop u dey talk of 2050
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by takenadoh: 7:19am On Jul 19, 2017
All Na wash
Re: Nigeria’s GDP To Hit $3.3 Trillion In 2050 – Pwc by martineverest(m): 7:20am On Jul 19, 2017
That's advice British economy

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