Nigeria, 4th fastest growing economy – UK Govt | Vanguard

Vanguard

30 March 2011

Nigeria, 4th fastest growing economy – UK Govt Vanguard

London – The UK  Government on Tuesday in London described  Nigeria as  the fourth  fastest   growing economy in the world.

Mr Henry Bellingham, UK Parliamentary Under Secretary of State For Africa and Overseas Territories,  said this at a two-day investment forum tagged: “Making Nigeria Your Goal.’’

“Nigeria has averaged growth of  8.9 per cent which is really stunning.

“Nigeria is the world’s fourth fastest growing economy with solid growth in the next five years and beyond ; this is truly remarkable,’’ he said.

Bellingham said  the Nigerian economy  may outpace that of  South Africa in the next 10 years if the current  reform in the banking sector was extended to the power, oil and gas sectors.