Nigeria expected to hit the Five Trillion Economy mark in the next five years – Honorary International Investments Council (HICC)

The Honorary International Investments Council (HIIC), predicts Nigeria to hit the five trillion economy mark in the next five years if the current growth environmental score is sustained.

The HICC is a group comprising of prominent investors across the globe that advises the Federal Government on investment drive.

According to Baroness Lynda Chalker, the HIIC Coordinator, the security challenge being faced in some parts of the country does not have negative effect on the drive for investments.

The Minister of Trade and Investments, Olusegun Aganga, remarked on the Council’s report on Nigeria’s promising economy:

“We are delighted to note and hear from an independent source globally and internationally acknowledged source that in the last 14 years for example, Nigeria has been one of the biggest improvement in items of the growth environment score, which is an indication of the economy that is growing.

“It is also pleasing to note that if Nigeria sustains this improvement in its growth environmental score for the next 14 years, it could become a five trillion economy which will put it ahead of a number of countries.

“So, the good news is that we are in a right position, we are in a better position to drive our growth and development going forward. Recognizing that Nigeria has been growing by seven percent for the last 14 years is a high return environment. These have been confirmed by the number and quality of investors investing in the real sector of the economy,” Aganga said.

The Minister of Trade and Investments also spoke about the macro economy, which he said the council expressed satisfaction going by the available indicators.

Post Author: Kingsley Iweka

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