Nigeria To Rank Among World’s Top 5 Economies By 2100 — ECOWAS President

The President of the ECOWAS Commission, Omar Alieu Touray, has projected that Nigeria could emerge as one of the world’s top five economies by the year 2100, describing the nation as a country with unmatched demographic strength, strategic influence and far-reaching economic potential. Touray made the statement during the launch of the ECOWAS National Biometric Identity Card in Abuja, where he praised Nigeria’s leadership role in regional integration and long-term development planning.

According to Touray, the transformation already taking shape within Nigeria’s economic and institutional framework is laying the groundwork for long-term prosperity. He explained that the country’s youthful population, expanding domestic market, and influence within West Africa place it in a position to significantly shape global economic trends in the coming decades. He said that while Nigeria faces immediate economic challenges, the future outlook suggests that with sustained reforms, the country could achieve a level of economic prominence that places it among the world’s elite economies by the end of the century.

Touray noted that Nigeria’s demographic outlook is one of its strongest assets. With one of the fastest-growing populations in the world and a median age under 20, Nigeria is projected to have one of the largest labour forces globally by 2100. This demographic advantage, if supported by investments in education, technology and human capital development, could create an economic engine capable of driving massive productivity and innovation. He stressed that countries that will dominate future global economic rankings are those with young, skilled and dynamic populations — an area where Nigeria has a clear advantage.

He also pointed to ongoing reforms in Nigeria, particularly in areas such as monetary policies, economic regulation, digital transformation, and financial system strengthening. Touray argued that these reforms are already contributing to greater transparency, improved investor confidence, and more efficient governance structures. He said that the recent stabilisation efforts by economic authorities and renewed focus on regional economic integration are indicators that the country is moving in the right direction.

Touray described the launch of the ECOWAS National Biometric Identity Card as a major step toward modernising regional mobility and economic cooperation. The card is expected to enhance cross-border travel, improve security, promote trade, and support the movement of labour and businesses across the region. According to him, the initiative will not only strengthen regional security systems but will also help integrate West African economies into a more unified market — a development that benefits Nigeria as the region’s largest economy. He noted that improved mobility will open up new opportunities for trade, investment, and collaboration, further boosting Nigeria’s long-term economic prospects.

Touray also acknowledged Nigeria’s longstanding commitment to regional stability. He mentioned that the country has taken the lead in many ECOWAS initiatives, including peacekeeping missions, political mediation, and economic policy coordination. This, he said, is one of the reasons Nigeria holds a position of trust and influence across the region. According to him, the country’s leadership on the continent and within ECOWAS provides a foundation for bigger responsibilities and greater global economic relevance in the future.

However, Touray emphasised that achieving the projection of becoming a top-five global economy will require sustained reforms, long-term planning, and deliberate efforts to address structural bottlenecks. He highlighted challenges such as infrastructure deficits, high unemployment, insecurity, regulatory inefficiencies, and overdependence on crude oil revenues as barriers that must be confronted decisively. He stressed that Nigeria’s economic future depends heavily on its ability to diversify its revenue sources, expand manufacturing capacity, and promote innovations that strengthen productivity.

He also urged Nigerian policymakers to remain committed to building resilient institutions that can support inclusive growth. According to him, strengthening institutions in sectors such as education, healthcare, technology, and agriculture will be crucial to unleashing Nigeria’s full potential. He added that the success of these reforms depends on consistent policy implementation, political stability, and collaboration between government, private sector and development institutions.

Touray further argued that Nigeria’s future economic influence will be tied to its ability to embrace digital transformation. With a growing technology ecosystem and rapid adoption of digital platforms, he said the country has the capacity to become a major hub for innovation in Africa. Investments in digital identity systems, fintech, artificial intelligence and advanced telecommunications, he explained, will give Nigeria a competitive advantage in the global economy of 2100.

Economic experts reacting to Touray’s projection agreed that Nigeria has the potential to become a global economic powerhouse if it manages its demographic and natural resources effectively. They emphasized that countries projected to rank among the top economies in the future are those that combine population growth with strategic investments and strong governance — all areas where Nigeria can excel with the right policy direction.

Touray concluded by stating that the movement toward becoming a top-five economy is not automatic but achievable. He maintained that Nigeria must continue on the path of reform, innovation and regional leadership to unlock its full economic potential. According to him, the steps being taken today — including the newly launched biometric identity system — form part of a larger vision that will shape Nigeria’s role in the global economy for generations to come.

With a blend of demographic strength, strategic economic reforms and regional leadership, Touray expressed confidence that Nigeria is well positioned to ascend to the ranks of the world’s most powerful economies by 2100.