President - Nation's economy to hit $1trn mark.
This would make Africa's most crowded nation the first in the landmass to attain to the feat.
According to projections made by the US Department of Agriculture, the Nigerian economy will soon hit the $1 trillion mark.
According to projections made by the US Department of Agriculture, the Nigerian economy will soon hit the $1 trillion mark.
This would make Africa’s most populous country the first in the continent to achieve the feat.
Nigeria
revamped its gross domestic product data in 2014 and overtook South
Africa to become the continent’s largest economy with a GDP of $469
billion.
Experts predict further annual growth
rates as high as 7.92% resulting in a GDP of $1.05 trillion for the
country between now and 2030.
“A lot of
Nigeria’s growth will come from agriculture and services are huge in
Nigeria. Banking, retail, telecoms and Nollywood has been an explosive
growth story in past couple of years,” Charles Robertson, global chief economist at Renaissance Capital said.
Robertson further stated that he expects the Nigeria’s GDP to reach $1 trillion before 2030.