While the President Bola Tinubu administration projects a $1 trillion economy for Nigeria by 2030, the country has been projected to rise among top five biggest economies in the world by 2075.
The Spectator Index disclosed in a post on Friday, quoting a Goldman Sachs’ document titled ‘The Path to 2075—Slower global growth, but convergence remains intact’.
According to the news platform, Nigeria’s economy is estimated to reach $13.1 trillion by 2075.
According to the report, Nigeria followed China ($57 trillion), India ($52.5 trillion), the United States of America ($51.5 trillion), and Indonesia ($13.7 trillion) in the 2075 projection.
Data from the National Bureau of Statistics showed that Nigeria’s Gross Domestic Product grew by 3.84 percent in the fourth quarter of 2024. The country’s GDP is estimated to be $568 billion at the end of 2024 in real GDP terms.
Africa’s most populous nation is expected to reach a GDP estimate that could be $585.9 billion.
Meanwhile, financial analysts had expressed doubts over the possibility of Nigeria achieving a $1 trillion economy by 2030 when the country’s projected GDP growth rate is 3.2 percent.
~DP
