Nigeria is Africa’s most populous country and its largest economy, yet it is little understood outside the region – and its rapid economic development has been overshadowed by global coverage of recent terrorism incidents.
A new report from the McKinsey Global Institute (MGI) (http://www.mckinsey.com/mgi) looks beyond the country’s immediate challenges to its longer-term potential. The report, Nigeria’s renewal: Delivering inclusive growth in Africa’s largest economy, finds that with the right reforms and investments, Nigeria can become one of the world’s leading economies by 2030.
Download the report:http://mckinsey.com/insights/africa/nigerias_renewal_delivering_inclusive_growth
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The report shows that Nigeria has the potential to expand its economy by roughly 7 percent per year through 2030, potentially raising GDP to more than $1.6 trillion. This could make Nigeria a top-20 global economy—with higher GDP than the Netherlands, Thailand, or Malaysia in 2030. Its consumer class could number 160 million people by 2030, and 70 million citizens could be lifted out of poverty.
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