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Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC - Politics - Nairaland

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Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Rikidony(m): 4:57pm On Mar 31, 2020
Brexit, coronavirus, and trade tiffs may be making economic headwinds, but despite immediate challenges, the world economy is projected to keep growing at a rapid pace over the next few decades. In fact, by 2050, the global market is projected to double its current size, even as the UN forecasts the world’s population will only grow by a modest 26%.

Though it can be challenging to predict exactly how the future will unfold, most economists agree on one thing: today’s developing markets will be tomorrow’s economic superpowers.

According to The World in 2050 report by international professional services firm PwC, in 30 years, six of the seven of the world’s largest economies will be today’s emerging economies, surpassing the US (dropping from 2nd to 3rd), Japan (dropping from 4th to 8th) and Germany (dropping from 5th to 9th). Even relatively smaller economies like Vietnam, the Philippines and Nigeria will see huge leaps in their respective rankings over the next three decades, according to the report.

We spoke to residents living in five countries with hyper-growth potential to find out how they’re navigating the rapid changes already occurring, what benefits come with living in these places and the challenges they face as their countries climb the rankings.

Nigeria

One of Africa’s largest economies, Nigeria is poised to grow by leaps and bounds by 2050, at an average of 4.2% year-on-year, rising eight places from 22nd to 14thin the rankings. While the government has struggled with corruption, residents have an entrepreneurial attitude that keeps pushing the country forward. According to Global Entrepreneurship Monitor data, more than 30% of Nigerian residents are new entrepreneurs or the owner-manager of a new business, among the highest rate in the world.

“There is a ‘hustle and bustle’ culture in the air,” said Nigerian native Colette Otusheso, CEO of Accelerate TV, who lives in Lagos. “Nigerians are hard workers and it almost comes naturally for us to be working on several things at once, which means there is always something going on.”

Even the country’s challenges, like minimal public transportation, have segued into business opportunities. “We now have an app very similar to Uber for okadas (motorbike transport), which is the most used form of transport in Nigeria but in the past has not been very reliable,” said Otusheso. “Now we can track okada drivers and locations just as you do for transport and deliveries with Uber.”

Residents mostly feel positive about the county’s future but are wary of government corruption and foreign investment. “We need to be careful what country we take money from, who we allow to help us improve our infrastructure and what strings are attached to it,” said Nigerian native Chizoba Anyaoha, Founder of TravSolo, noting their history of other nations taking advantage of their natural resources and raw materials.

Newcomers should settle in Lagos or Abuja, both big cities with good schools and great nightlife and food. Just like any big city, street smarts are key. “The best way to acclimate here is to know someone currently living here you trust,” said Anyaoha. “It is quite easy to identify expats, making them easy targets. Keep a low profile, take precautions, always be aware of your surroundings and the people in it.”

http://www.bbc.com/travel/story/20200322-five-superpowers-ruling-the-world-in-2050

16 Likes 2 Shares

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Rikidony(m): 5:01pm On Mar 31, 2020
Nigeria can still get higher, if more money is spent on infrastructure and Corruption fought to the bearest minimum.

37 Likes 1 Share

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by GamalNasser: 5:05pm On Mar 31, 2020
It would have been possible if Buhari wasn't elected

112 Likes 5 Shares

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by titilala: 5:17pm On Mar 31, 2020
tongue
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by datola: 5:17pm On Mar 31, 2020
While the government has struggled with corruption, residents have an entrepreneurial attitude that keeps pushing the country forward. According to Global Entrepreneurship Monitor data, more than 30% of Nigerian residents are new entrepreneurs or the owner-manager of a new business, among the highest rate in the world.

Wow!

30 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by ContractKiller: 5:17pm On Mar 31, 2020
So this is how the dullard and his merry idiots plan on riding out the mess created by his idiotic policies. By mounting a campaign of lies and deception.

We still remember how the dullard lifted 20 million people out of poverty due largely to his numerous audio achievements.

The truth will always catch up with lies no matter how far it travels.

[img]https://images./4dLFiKGB94MgYwK61NLqUK.jpg[/img]

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Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by israelmao(m): 5:18pm On Mar 31, 2020
2050-2020=30.And what happens before then?

23 Likes 1 Share

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Samnewspaper01: 5:18pm On Mar 31, 2020
Okay.
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Zinoly: 5:18pm On Mar 31, 2020
All thanks to SS/SW/SE

Allah bless the alimajiris up north.

22 Likes 2 Shares

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by kyrian1(m): 5:18pm On Mar 31, 2020
Okay
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by AroOkigbo(m): 5:18pm On Mar 31, 2020
Future tense. ..it's remaining 30 years from this year.
Let's finish with Aunty coro first, abeg

7 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Slimdaddy2: 5:18pm On Mar 31, 2020
Awon projectors

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Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Ijeleigbo(m): 5:18pm On Mar 31, 2020
Story! Na today them start to project! What of Nigeria vision 2020? Where are we today?? Forget that Bullshit even in 50 years time, Nigeria won't reach anywhere except we have a government that is Keen to turn this nation to an industalized nation therefore, we have countless number of industries, producing more, exporting more and importing less and totally deviating from oil because the result of vision 2020 is that oil is useless and no more money for politicians to loot.....

Only then can we be on the path to greatness! And let nobody tell me about Agricultural shit because it can even take us to top 50 economy in the world.....

Science and Technology, Robots, Electric cars these are the new rave of the modern world... How can Nigeria sustain? That's a topic for another day!!!

So BBC reporters or whatever you guys call yourselves, stop taking those drugs that make you guys to write nonsense and stop mocking us!

18 Likes 1 Share

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Nobody: 5:18pm On Mar 31, 2020
Crap
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by GeoandSONSLTD: 5:18pm On Mar 31, 2020
When they want to massage our ego

Nigeria, UAE, Singapore were projected the same time, Look at the reality now.

Before that time, other countries would get themselves and surpass us. Eg Rwanda

38 Likes 4 Shares

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Nobody: 5:18pm On Mar 31, 2020
Na projection we go chop?

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Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by meum: 5:18pm On Mar 31, 2020
If and only if...
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by KingMicky3286: 5:18pm On Mar 31, 2020
Okay, If the world did not vanish by then.

2 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Johnsonbet365(m): 5:18pm On Mar 31, 2020
I just pray we are all alive to witness it sha

1 Like

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Jack500: 5:18pm On Mar 31, 2020
I pray so o.

But some people will be sad about this projection, anything to cripple Nigeria is what make them happy.
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by cRobo: 5:18pm On Mar 31, 2020
wink

1 Like

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by centboy123456(m): 5:19pm On Mar 31, 2020
thanks to the igbo people

11 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Nathphil(m): 5:19pm On Mar 31, 2020
Nonsense they should predict when Corona will stop.

3 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by CoronaVirusPro: 5:19pm On Mar 31, 2020
God bless His Excellence President Mohammadu Buhari (GCFR)

Giant strides has been accomplished. His administration has been able to steer Nigeria on the right course which was tasking and demanding.

In as much as what still needs to be done is much more than what has been accomplished, the fact that we now can see a light at the end of the tunnel is our present consolation.

Despite the hate and negative criticisms, His leadership has continuously proven to be undeterred in the quest for a better Nigeria.

Today might never appreciate the structures, culture and discipline you instilled, but it's certain that the future will always celebrate it and history will never forget.

8 Likes 2 Shares

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by madridguy(m): 5:19pm On Mar 31, 2020
grin
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Jestin: 5:19pm On Mar 31, 2020
Vision 2020 is here already like play like play.

6 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by DriggityDre: 5:19pm On Mar 31, 2020
They have a point but corruption and the numerous vices of Nigeria will not make this possible.

Note: The prediction can only fulfilled if these factors are cut out. I am very sure they didn't put in those factors.

They forgot Nigeria is not like their good countries. If those factors are put in, we would reach top 10 in.... NEVER!
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Nobody: 5:19pm On Mar 31, 2020
When men don old finish with white beards.

hustle smart and forget their analysis

4 Likes

Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by Imperare(f): 5:19pm On Mar 31, 2020
I love the
Re: Nigeria Projected Among Top 20 Economies In The World By 2050 - BBC by hisexcellency34: 5:19pm On Mar 31, 2020
2050 kee you there!

13 Likes 1 Share

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