By Abiola Olawale
Indications emerging suggest that a better Nigeria might not be far away as a leading global investment bank, Goldman Sachs, has projected that the country is on the right economic path and will emerge as the world’s fifth largest economy by 2075.
In the report, the global bank also predicted Nigeria to rank as the world’s 15th-largest economy by 2050.
The top global investment banker further predicted the country’s Gross Domestic Product (GDP) to reach $13.1 trillion by 2075, further solidifying its position as Africa’s largest economy.
According to the report, the projection will put Nigeria ahead of Pakistan at 6th position, Egypt (7th), Brazil (8th), Germany (9th), UK (10th) Mexico (11th), Japan (12th), Russia (13th), Philippines (14th), and France (15th).
Other countries trailing Nigeria in the forecast included Bangladesh, which is projected to emerge as the 16th world’s largest economy by 2075, Ethiopia (17th), Saudi Arabia (18th), Canada (19th), Turkey (20th), Australia (21st), Italy (22nd), Malaysia (23rd), South Korea (24th), and South Africa, which occupied the 25th position.
China is projected to overtake the United States as the world’s largest economy by 2050 up till 2075, while India is expected to emerge as the world’s second-largest economy by 2075.
The third and fourth positions, according to the report, will go to the United States and Indonesia, respectively.
