Goldman Sachs has projected that Nigeria, the most populous African country will become the fifth-largest economy in the world by 2075.
Goldman Sachs had in July 2023 made the projection.
NIgeria is on the path to achieve the projection.
This means Nigeria will overtake the like of Germany, Russia and Japan in 52 years’ time.
According to its reports, the American multinational investment bank and financial services company forecast that China will be the world’s biggest economy with $57 trillion.
India is expected to be the second with $52.5 trillion, the United States to be third with $51.5 trillion and Indonesia to come fourth with $13.7 trillion.
Nigeria with $13.1 trillion will be the only country from the African Continent among the top 15 as forecast by Goldman Sachs.
Though Nigeria is still faced with economic and security challenges that could mar its growth, the Government being led by President Bola Tinubu has vowed to address these issues to put Nigeria on the path to economic growth and development.
As reported in July 2023, Nigeria’s Gross Domestic Product (GDP) grew by 2.31% (year-on-year) in real terms in the first quarter of 2023.
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