Nigeria to be 15th largest economy by 2050, says former Chairman, Goldman Sachs

Jim O’Neill, a former Chairman, Goldman Sachs Asset Management, a consulting firm, said Nigeria could be the world’s15th largest economy if its large population actively participated in economic development.

O’Neill made the prediction at the ongoing 20th Nigerian Economic Summit in Abuja on Thursday.

The theme of the summit is “Transforming Education through Partnerships for Global Competitiveness”.

He said that events in Brazil, India, Russia and China known as “Bricks Nations” had shown that with their large populations, they could engage the world.

He said that economic growth was driven over a long term by population and productivity.

O’Neill said that with all available indices, Nigeria had already been listed among the expected 15 largest economies by 2050.

“What you are seeing today is the list of the 15 largest economies by 2050 and Nigeria is there. This means that Nigeria can be the 15th largest economy by 2050.