The revival of Nigeria’s economy has gained momentum under the guidance of President Buhari’s ERGP programme; its ambitious targets yield results that seem to indicate that they will soon be superseded.

In spite of difficult times, Nigeria has been rated as the top 10 most improved economies in 2016/2017.

“Nigeria is a very resilient country in terms of economy,” states Mr. Venkatapathy Venkataraman Group MD at NIPCO.

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This has been a result of the ERPG programme and its emphasis on industrialisation and diversification policies which boost capital inflows and encourages ease of doing business.

In November 2017 Godwin Emefiele Governor of the Central Bank of Nigeria CBN’s presented Nigeria’s economic outlook for 2018, predicting that national forex reserves will hit US$ 40bn in 2018. In introducing I&E forex the improvement in the ease of doing business is guaranteed.

“The Central Bank of Nigeria (CBN) played an extensive role in ensuring relative price stability and in managing the dearth of foreign exchange,” declares Mr Obeahon Ohiwerei, Managing Director at Keystone Bank.

READ: Why Nigeria needs a new national carrier

“If the tight monetary policy continues, and the Central Bank continues to manage the liquidity that makes FX, the economy may grow more than the 1.8% projected,” claims Mr Abubakar Jimoh, CEO at Coronation Merchant Bank.

Although energy sales in Nigeria account for up to 80 percent of all government revenue and more than 90 percent of the country’s exports, Agriculture and ICT sectors have flourished, providing steady growth, employment and investment opportunities.

The ERGP’s shift towards becoming import dependent has been particularly successful in Agriculture. Proforce MD, Mr Ade Ogundeyin declares, “the government is serious and committed about made-in-Nigeria goods. They are saying that if it can be produced in Nigeria you don’t import it.”

The government’s intention to use telecoms and ICT for economic development and financial inclusion is auspicious for the industry. Executive Vice Chairman of the Nigerian Communications Commission, Mr Umar Danbatta states that “telecoms contribution to GDP is now close to 10% and has been contributing 1.4 trillion naira to the economy.”

Minister of Power, Works and Housing Hon. Fashola confirms the commitment to IT, “We’re installing more broadband and connectivity across the country,” which in turn enhances a definite entrepreneurial spirit at play amongst the people.

The government has made it extremely clear that it will be pouring funding into infrastructure. Minister of Power, Works and Housing Hon. Fashola declares, “the investment in infrastructure is driving the value chain of the economic diversification.”

The government’s plans to modernise and restructure the country’s public transport system has proved a great opportunity for investors and the economy.

READ: Nigeria Needs Industrialization now

Nigeria remains a highly appealing destination for investors. Mr Tunde Fowler, Chairman at FIRS elaborates, “Nigeria is an investor’s heaven with so much potential; from industry to agriculture to telecommunications. There’s so much room for expansion and the ease of doing business ensures that anyone who has a business, or who intends to start a business, will not have to face any bureaucracy, roadblocks or hindrance.

Nigeria’s government is determined to provide profound and long-term change in economic prosperity and stability; there remains little doubt that it is Nigeria’s destiny to uphold the title of largest economy in Africa for a long time yet.

chriskosherbal:
Okay we are in for another argument

naijapips04:


It's never an argument. The truth remains that Forbes has never anywhere this year rated Nigeria's economy as the best in Africa. If you can point me to a link by forbes where this was stated, I will give you 20k sharp sharp.

Seun and Nairaland should be weary of spreading fake news. Forbes can sue the crap out of this website for this.

Nukilia:
Don't mind the propagandists They've paid the trolls

khingTony:
These Guys have gone too Far

nelcliff:
Before 2015, they started with fake news and all sort of lies to get to power in 2015. Now they are keeping the temple of lies all round to sustain their govt..

God will continue to exposed them. Good job here @OP.

who ever doubt you should dig the fact out and stand to gain the cash offer..

MexxIT:
I was laughing in Swahili wen I saw d APC promoted report

IllegalMoney:
APC busted again

Bizibi:
It was laughable when that rubbish was posted this morning......

naijapips04:
There is a fake news currently on the frontpage of this forum where a seemingly reputable government blog (von.gov.ng) quoted an article by a by an independent contributor at forbes, penrasa , claiming that Nigeria's economy is rated the best in Africa.

Now I would like to quote here that no where was it categorically stated or implied in the article that Nigeria's economy is the best in Africa. You can read up the link yourself. https://www.forbesafrica.com/economy/2018/04/09/making-nigeria/

And no where has forbes stated that Nigeria's economy is the best in Africa. You can use google to check. And if you find any article by forbes stating that Nigeria's economy has been rated best in Africa, I would give you N20k.

No 2. The article quoted is 5 months old. Can you imagine? An article written by an independent contributor 5 months ago is used to evaluate the present state of Nigeria's economy.

No 3. Nigeria's economy has been the biggest (not best) in Africa since 2014. Infact our GDP as of 2015 is $490 billion compared to the $405 billion it was in 2017. We have retrogressed basically. https://www.forbes.com/sites/tobyshapshak/2016/05/12/south-africas-economy-falls-to-third-behind-nigeria-egypt/#1a62128c4b78


I implore Nairaland to be weary of the sort of news it habours in it's platform. Forbes can sue the hell out of Nairaland for this.
And it is shameful that the same government that is claiming to be fighting fake news are themselves the bearers of fake news. Here is a link to government owned websites carrying the fake news (note the gov.ng domain. ). https://www.von.gov.ng/forbes-rates-nigeria-as-2018-best-economy-in-africa/

Below is the Fake article by 'Forbes'.

Mgbadike80:


this type of thread hardly makes it to the front-page check out my thread below on the same issue.
Nigeria would be under-performing the sub-Sahara Africa group of economies

Great2017:
It is one Butterflyle0 that spew the rubbish on Nairaland. Good Nigerians should be cautious of any news emanating from him.
OP, thanks for exposing his evil intentions.