Lagos - Despite the challenges the country is facing, Nigeria has the potential of emerging as a global economic force by 2030, a new report from McKinsey Global Institute (MGI), a consulting firm, has revealed.
The report released on Thursday projected Nigeria’s growth rate at roughly 7.1 percent per year through 2030, raising GDP to more than $1.6 trillion, reports BusinessDay.
This would make Nigeria a top-20 global economy with higher GDP than the Netherlands, Thailand, or Malaysia by 2030.
McKinsey projected that consumption could more than triple, rising from $388 billion a year to $1.4 trillion a year in 2030 due an expanding consumer class in the country.
Read more at BusinessDay.
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