Ratings agency Moody’s published a statement last week on Nigeria’s rebased GDP of $510 billion, which it estimates would surge to $4.5 trillion by 2050.

Moody’s which has a Ba3 stable rating on Nigeria said that the rebasing exercise was supportive of assessing the nation's sovereign credit profile, although it does not change the government’s nominal stock of outstanding debt, nor its revenue generation capacity to service that debt.

“With a population of 170 million and oil reserves estimated at around 37.2 trillion barrels (or roughly 28 percent of total African reserves), Nigeria is likely to number among the world’s 15 largest economies by 2050 when GDP is projected to exceed $4.5 trillion in purchasing power parity terms,” said Aurelien Mali, VP-Senior Analyst, Moody’s.

“From a credit standpoint, the revised GDP estimates allow a better understanding of the Nigerian economy and its underlying resilience.”

The rebasing of Nigeria’s GDP follows similar rebasing exercises by more than a dozen other African countries over the past decade, resulting in a range of revisions of national output, from an 11 percent reduction in the case of Botswana (A2 stable) to a 66 percent increase in the case of the Democratic Republic of the Congo (B3 stable).

Moody’s notes that in Nigeria’s case, the GDP revision is more spectacular as it means the country has now overtaken South Africa to become the largest economy in Africa, with its ranking among global economies jumping from 36th to 28th, with an economy almost as large as that of the Netherlands.

http://businessdayonline.com/2014/04/moodys-nigeria-to-be-among-15-largest-economies-by-2050-with-gdp-of-4-5-trillion/#.VIFlSeGVsgQ

World's biggest countries by population (2050)

Nigeria 'Fastest Growing Economy On Earth From 2011 To 2050' - New Forecast.

''Though we remain wary of oracles and fortune-tellers, a new report by PriceWaterhouseCoopers highlights some of the profound global economic shifts we at Quartz believe are well underway.

The sages at PwC forecast that between now and 2050:

The fastest growing economy will be… Nigeria. Followed by Vietnam, India, and Indonesia. Chinese growth will slow down due to a rapidly aging population and rising labor costs.''


[img]http://qzprod.files./2013/01/screen-shot-2013-01-17-at-10-58-42-am.png?w=881&h=453[/img]

http://www.pwc.com/en_GX/gx/world-2050/assets/pwc-world-in-2050-report-january-2013.pdf

2050 still a long way to go.......IF NIGERIA STILL REMAINS ONE THEN


IF NOT FOR BAD LEADERSHIP WE SHOULD BE INLINE WITH BRAZIL AND INDIA NOW

Report: China Top Economy in 2020, India in 2050


Mar. 30 – India, currently boasting the fourth-largest economy in the world in terms of purchasing power parity (PPP), will become the largest by 2050, according to the 2012 edition of The Wealth Report released this week by global property firm Knight Frank and Citi Private Bank. The report also predicts China, currently the world’s second largest economy, will take the top spot from the United States by 2020.

According to the report, by 2050 the Indian economy is expected to be worth $85.97 trillion while China’s GDP would stand at $80.02 trillion. Both figures are forecasted to be dramatically higher than that of the United States, which is expected to have a GDP of $39.07 trillion by 2050 – dropping two places from the current number one spot.

Other nations ranked among the world’s top 10 largest economies in 2050 are Indonesia (4th), Brazil (5th), Nigeria (6th), Russia (7th), Mexico (8th), Japan (9th) and Egypt (10th).



http://www.2point6billion.com/news/2012/03/30/report-china-top-economy-in-2020-india-in-2050-10921.html

The report also predicts China, currently the world’s second largest economy, will take the top spot from the United States by 2020.

White Supremacist will always claim to be on top

Ratings agency Moody’s published a statement last week on Nigeria’s rebased GDP of $510 billion, which it estimates would surge to $4.5 trillion by 2050.

This is only the economy in the open market. Times it times two for the blackmarket.

Moody’s notes that in Nigeria’s case, the GDP revision is more spectacular as it means the country has now overtaken South Africa to become the largest economy in Africa, with its ranking among global economies jumping from 36th to 28th, with an economy almost as large as that of the Netherlands.

If GEJ was clueless how is it possible? He has strategically placed himself with the Real Super Power China and America has sent operatives and payed coons to discredit his administration

We will no longer be manipulated by western influences through shady leaders, listen to what Americans are saying about Boko Harem.

https://www.youtube.com/watch?v=nME_XFtTLzA

What is the current rate of US dollar?

Only if our leaders would allow it.

....although it does not change the government’s nominal stock of outstanding debt, nor its revenue generation capacity to service that debt.

To me, That is the most important aspect of our economy and not some gigantic GDP. They are many countries with far lesser GDP than ours but they generate more revenue than us. Countries like Algeria, Thailand and even South Africa. Since government is the highest employer of labour in Nigeria it only makes sense for the FG to strive harder, diversify and generate more revenue for the country. Even if the private sector is the highest employer of labour they are not in charge of delicate issues like Security and Defense. Thailand and Algeria can afford what our government can't, If we go broke our gigantic GDP won't pay salaries, it won't build roads, schools, health facilities etc Check out the countries that generate more revenue than Nigeria even with lesser GDP they have good infrastructure, constant electricity etc The government should focus on generating more revenue and not some GDP hogwash!

2050. world go don end by then na

GDP is nothing without comparing and monetizing the finding.
The 2013 rebased figures showed the agric sector contributing 21.97 percent or N17.625 trillion ($112.26 billion) of the total N80.22 trillion ($510 billion). This compares with N14.71 trillion ($93.7 billion) in the old non-rebased estimates for 2013.

The government’s efforts to boost food supply by 20 million metric tons from 2011 to 2015 has seen the country’s food import bill drop by more than half to $5 billion from $11 billion two years ago.
Crude petroleum and natural gas sector contributed 14.4 percent(Agri was 21.97%) or N11.55 trillion ($73.56 billion) to the total 2013 rebased GDP.
Imagine where we would be if this administration had the funding that OBJ and Atiku squandered.
This alone is 80% of why I will vote for GEJ on Valentines Day

You now know why "they" want to kill all of us with boko haram

Rikidony:
2050 still a long way to go.......IF NIGERIA STILL REMAINS ONE THEN


IF NOT FOR BAD LEADERSHIP WE SHOULD BE INLINE WITH BRAZIL AND INDIA NOW

Tru. Very true

owobokiri:
You now know why "they" want to kill all of us with boko haram

They will never succeed.

https://www.youtube.com/watch?v=I1YJwoa6QxY

How insecurity in Nigeria could affect economy

owobokiri:
You now know why "they" want to kill all of us with boko haram

There have been similar predictions for Nigeria in the past but none had come to pass. Good leadership is all that the country needs to attain greatness , regardless of any predictions.

akoaki:
There have been similar predictions for Nigeria in the past but none had come to pass. Good leadership is all that the country needs to attain greatness , regardless of any predictions.

There have been NO ''similar predictions'' about Nigeria in the past, and if you say they have been, NAME THEM, AND BY WHOM. Don't just come in here to make empty claims without evidence.

China has already overtaken USA to be No 1 in the world

This is quite some good news. Only if our leaders would be wise enough and properly steer our country in the right direction.

Nice

ROSSIKE:


There have been NO ''similar predictions'' about Nigeria in the past, and if you say they have been, NAME THEM, AND BY WHOM. Don't just come in here to make empty claims without evidence.

The "similar" prediction was that Nigeria's GDP will overtake that of South Africa by 2020. This was achieved in 2014 with 6 years to spare.

Note that this "similar" prediction was made when Nigeria's GDP was 3rd behind South Africa and Egypt.

As reforms in the Agric and Power sectors combine with the new Industrial Policy, we will continue to confound nay sayers. The only thing that's missing is the reforms in the energy sector (PIB and subsidy) and we will take our rightful place.

ROSSIKE:


There have been NO ''similar predictions'' about Nigeria in the past, and if you say they have been, NAME THEM, AND BY WHOM. Don't just come in here to make empty claims without evidence.

Age and sound knowledge of nigerian history is an important factor in this discourse. I don't mean to insult anyone.

Curlieweed:


The "similar" prediction was that Nigeria's GDP will overtake that of South Africa by 2020. This was achieved in 2014 with 6 years to spare.

Note that this "similar" prediction was made when Nigeria's GDP was 3rd behind South Africa and Egypt.

As reforms in the Agric and Power sectors combine with the new Industrial Policy, we will continue to confound nay sayers. The only thing that's missing is the reforms in the energy sector (PIB and subsidy) and we will take our rightful place.

That's why GEJ must complete his 2and term

The Same Moody and other credit rating agencies that rated some of the top financial institutions in the world with triple AAA(The highest possible trading rating) And these institutions also were involved in making risky investment which lead to 2008, global economic meltdown. When approached, they claimed their rating is merely an opinion and they don't necessarily explain this opinion. The 2008 Iceland financial crisis is the purest form of financial deregulation and an American rating agency praised Iceland for creating even a greater financial economy approach that will later sink their economy. It happened to Lehman brothers, AIG, Freddie Mac, Fannie Mae etc. We should be careful, history has a way of repeating itself.

Why 2050?, I think Nigeria will be among global economies by 2030