In Nigeria Country’s economy to hit $1trn mark

This would make Africa’s most populous country the first in the continent to achieve the feat.

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President Goodluck Jonathan

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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.

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