L
LequteMan
Guest
South Africa's Dr Martyn Davie, the Chief Executive Officer (CEO) of Frontier Advisory Ltd, a leading research, strategy and advisory firm on Tuesday predicted that Nigerian economy would hit One trillion Dollar benchmark by 2025.
Davies gave the prediction at the opening of the 2014 Africa Hotel Investment Forum in Addis Ababa, Ethiopia.
He noted that the Nigeria’s economy being the largest on the African continent in terms of size was currently leading South Africa by 20 per cent.
Davies, however, advised Nigeria to take advantage of her demography and invest to diversify its economy, which was largely dependent on oil export.
``The political economy of Africa is increasingly becoming complex, making the Africa rising narrative no longer applicable as development needs, when viewed through multiple lenses,’’ he said.
According to him, GDP was no longer a measure for growth, saying growth had become complex comprising of diversification and quality not just quantity.
Davies insisted that both government and the private sector must invest heavily in basic infrastructure and manufacturing to hasten industrialisation, and sustain its growth among emerging economies.
#Nigeria #SouthAfrica
Davies gave the prediction at the opening of the 2014 Africa Hotel Investment Forum in Addis Ababa, Ethiopia.
He noted that the Nigeria’s economy being the largest on the African continent in terms of size was currently leading South Africa by 20 per cent.
Davies, however, advised Nigeria to take advantage of her demography and invest to diversify its economy, which was largely dependent on oil export.
``The political economy of Africa is increasingly becoming complex, making the Africa rising narrative no longer applicable as development needs, when viewed through multiple lenses,’’ he said.
According to him, GDP was no longer a measure for growth, saying growth had become complex comprising of diversification and quality not just quantity.
Davies insisted that both government and the private sector must invest heavily in basic infrastructure and manufacturing to hasten industrialisation, and sustain its growth among emerging economies.
#Nigeria #SouthAfrica
