[size=15pt]Pricewaterhouse Coopers forecasts Nigeria will be G-13 economy by 2050[/size]


Friday, 18 January 2013


INTERNATIONAL accountancy giant Pricewaterhouse Coopers (PwC) has joined the growing list of analysts forecasting that Nigeria will become a future global economic giant with a prediction that she will be a top 13 economy by 2050.

In its latest report on global economic trends titled World in 2050, PwC stated that a growing, prime working-age population, together with rising average rates of schooling and technological progress will drive Nigeria’s strong growth prospects. It noted that with a projected gross domestic product (GDP) of nearly $4 Trillion by 2050 and an annual average real GDP growth rate of about 6%, as well as a youthful and growing working population, Nigeria is projected to rank among the world’s largest economies by 2050 if it can realise its full potential.

According to a report published by PwC’s macroeconomics team, Nigeria and other emerging economies, including Vietnam, India, Indonesia, Malaysia, China, Saudi Arabia and South Africa are set to grow much faster than the G7 countries over the next four decades. However, the report’s projections relied on the country using its oil wealth to develop a broader-based economy with better infrastructure and institutions.

Andrew Nevin a partner with PwC Nigeria, said: “Nigeria’s projections for population, education levels and technological progress are very strong. Nigeria lags behind with regard to its investment rate, however.

"Productivity is lower in Nigeria due to weak infrastructure and institutions, as well as an over-reliance on oil revenues. By investing in these areas and diversifying its economy, Nigeria can realise its full potential by 2050."

John Hawksworth, PwC's chief economist and co-author of the report, added: “The shift in the global economic centre of gravity is clear. The seven emerging economies could overtake the G7 before 2020 and by 2050, China, the US and India could be by far the largest economies with a big gap to Brazil in fourth place, ahead of Japan.

"By the same time, Russia, Mexico and Indonesia could be bigger than Germany or the UK and Turkey could overtake Italy. Nigeria could rise up the league table, as could Vietnam and South Africa in the longer term."

PwC's report listed growth estimates as driven by increases in the labour force, as proxied by UN projections for working age population and growth in the quality of labour, which is assumed to be related to current and projected average education levels in the workforce. Also key is the growth in physical capital stock, which is determined by new capital investment less depreciation of the existing capital stock and technological progress.

- See more at: http://www.nigerianwatch.com/news/1158-pricewaterhouse-coopers-forecasts-nigeria-will-be-g-13-economy-by-2050#sthash.Qffgksvc.dpuf

I think this is an insult to the US. Did the US not predict Nigeria's disintegration in 2015? So, Nigeria is still gonna be a country in 2050 when i'll probably be in my 60s or 70s?

Nigeria: Most Powerful African Lion By 2050:


The BRICS AND BEYOND report of emerging giants in 2007 by Goldman Sachs, an investment bank, predicts Nigeria as the leading African ''Lion Economy'' by 2050.

Nigeria's rise is nothing less than stellar, with its GDP projection following:

2006: US$121bn
2020: US$306bn
2035 US$1.08 TRILLION
2050: US$4.6 TRILLION

Read more:

http://globaldialog1..co.uk/2011/08/nigeria-biggest-most-powerful-african.html

yeah right

Dont u think this calls for celebration buddy?

There's a question I keep asking when I see these kind of projections: Will there be a Nigeria (as we know it) by the year 2050?

HNosegbe: There's a question I keep asking when I see these kind of projections: Will there be a Nigeria (as we know it) by the year 2050?

Do you have some other plan? What other unknown Nigeria do you foresee and how do you and your accomplices plan to realize your goal?

OMAJE4: Do you have some other plan? What other unknown Nigeria do you foresee and how do you and your accomplices plan to realize your goal?

Help me ask am abeg.

This brings d idea dat u lack chauvinism 4 dz grt state....9jiria cn never b disintegrated nt wen over 1million lives sacrifice hz been made bck n d civil war days....NIGERIA IS A COUNTRY DESTINED 2 BE GRT...BT OUR GREATNESS WZ HINDERED R RATHER DELAYED BY RUTHLESS POLITICAL GODFATHERS...BT DIA Z HOPE IF D CUMIN GENERATION WLL NT TAKE D FOOTPRINTS F OUR "FORE-FATHERS".LET ALL HANDS BE N DECK 2 ACHIEVE D NIGERIA OUR FOUNDING FATHERS FOUGHT FOR.....GOD BLESS NIGERIA!!!

So i would have to wait that long.