Nigeria will be Africa’s sole representative in the top 20 economies by 2030

VENTURES AFRICA – Nigeria, currently Africa’s biggest economy with a GDP of $510 billion, will be the only African country amongst the 20 largest economies in the world by 2030. This is indicated in a macro-economic projection by the US Department of Agriculture.

The US will lead this elite group of economies with a Gross Domestic Product (GDP) of about $24.8 trillion. China will follow closely with a GDP of $22.2 trillion, while India will be third with $6.6 trillion.

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US department of agriculture

Despite narrowly escaping the bottom slot, the World Bank has predicted that Nigeria’s GDP will rise gradually by 5.1 percent till 2017.

Countries like Nigeria, the Philippines and Vietnam have distinguished themselves as “risers” in global GDP rankings over time. This indicates an average growth rate of 5.5 percent per annum till 2050.

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