Concern over trickle down effect of Nigeria growth

Started by YahooNews, Dec 15, 2013, 05:31 AM

YahooNews

Nigeria could soon become Africa's biggest economy but there is growing recognition that the landmark will be largely symbolic and do little to change lives in the continent's most populous nation. On paper, the future looks bright for Nigeria: the International Monetary Fund has forecast 7.4 percent growth in gross domestic product (GDP) in 2014, up from an estimated 6.2 percent this year. GDP growth in Africa's largest crude oil producer averaged 6.8 percent between 2005 and 2013, according to the Central Bank of Nigeria (CBN). That compares to a little over five percent between 2005 and 2008-9 in Africa's largest economy, South Africa, which has struggled to go beyond 3.5 percent since.



Folami David

That has to change as soon as possible for people to stay in the country. This is where our government comes in..