Nigeria is on track to become a global economic powerhouse, rosing to become fifth largest economy by 2075, according to a new report by global investment bank Goldman Sachs.
The investment bank forecasted Nigeria’s promotion to the world’s fifth largest economy by 2075 with a Gross Domestic Product (GDP) of $13.1 trillion.
The projection builds upon recent positive economic trends in Nigeria and aligns with similar forecasts from other leading financial institutions.
The anticipated economic boom is attributed to the visionary leadership of President Bola Ahmed Tinubu.
The current administration’s focus on education, skills development, and infrastructure upgrades has laid a solid foundation for sustainable economic growth.
Policies aimed at attracting investment, establishing consumer credit, and implementing sound monetary and fiscal measures are also credited with propelling Nigeria towards a brighter economic future.
Goldman Sachs’ report, titled: 25 Largest Economies in the World by 2075, positions Nigeria ahead of established economic giants, like Germany, the United Kingdom (UK), Brazil, and Egypt.
The report lauds President Tinubu’s proactive approach in tackling these issues and his commitment to prudent economic decision-making.
Reacting to the report, the CEO of Praefinium Partners, Alpesh Patel, highlighted the 2075 projection as a glimpse into a future with a more balanced global economic distribution where emerging economies play a more prominent role.
