Nigeria's Current GDP Ranks 3rd In The World According To Mr Agangu - Business - Nairaland
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| Nigeria's Current GDP Ranks 3rd In The World According To Mr Agangu by mmeri: 9:16pm On Feb 28, 2011 |
[i][/i](culled from Vanguard Nigeria 28th Feb 2011) Nigeria's economy fared better than those of most advanced economies of the world last year, with her gross domestic product (GDP) growing by 7.85 percent, compared to a global average of 3.9 percent, according to the World Economic Outlook. Minister of Finance, Segun Aganga said in his presentation at the Institute of Directors (IOD) in Lagos at the weekend that Nigeria's GDP growth rate is among the highest in the world, behind those of China and India. While average GDP growth rate for Sub-Saharan Africa is put at 4.7 percent, the minister said the GDP of South Africa, the biggest economy on the continent, grew by a mere 2.7 percent. "Nigeria's GDP growth rate was higher than those of the high income nations. The GDP growth rate for the Organisation of Economic Cooperation and Development (OECD) nations averaged 2.7 percent; the Euro Area grew their GDP by 1.7 percent; that of the United States grew 2.8 percent, while the average for non-OECD nations 6.7 percent. The BRIC nations, made up of Brazil, Russia, India and China had GDP growth rates of 7.6 percent, 3.8 percent, 9.5 percent, and 10.0 percent respectively," he said. |
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