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/

Amen

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

yeye dey smell...hw u take no say nigeria go even reach 2020....odua republic on my mind

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.

the kind thunder wey go strike PwC!

.

Lies. Oil for don cast by den

Okay.

Sniper12:
Lies. Oil for don cast by den

Don't give up my Brother, it's possible

Atiku2019:
Amen Surely with an Atiku from 2019 ---- 2027 its possible

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

stevejomo:
the kind thunder wey go strike PwC!

Nothing is impossible Bro

is okay!

Atiku2019:
Amen


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

.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.

they never solve 2017 matter dem they think of 2050 own. For your web design/web development, Call or WhatsApp 08130767357

Hopefully, but definitely not with the current leaders in charge of affairs

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?

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...

and 3.1t will be looted out

kk

Isn't our population also projected to reach 300 million then ?? .... wahala oh!

All na propaganda
Yet dey smell

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.

person never c food chop u dey talk of 2050

All Na wash

That's advice British economy