Nigeria is expected to become the first country in Africa to reach a GDP of 1 trillion. According to forecasts, there may be an annual expansion of up to 7.92%. The report goes on to further state that South Africa is likely to hit this number next and then Egypt. While it seems like a great thing, Nigeria has not had consistent growth in the past and is currently dealing with issues regarding their electricity infrastructure. If the past holds true, we could expect to see a much more rocky climb to 1 Trillion. The country must also improve on its infrastructure in general as this will be a major constrain. The most interesting part of this report was the fact that agriculture is the big driver of growth and seems to be what will bring the most wealth to the country. Given that manufacturing is usually causes an economy to expand rapidly, it will be surprising if these predictions hold true.
By
Dean Hamrick
http://www.cnn.com/2015/04/27/business/nigeria-gdp-1-trillion-2030/index.html
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