Nigeria has the potential to become a major economic force in the coming decades - McKinsey report

PRESS RELEASE

The report finds that Nigeria has the potential to expand its economy by roughly 7.1 percent per year through 2030

LAGOS, Nigeria, July 24, 2014/ -- There is no disguising the challenges that Nigeria is facing. The world is well aware of the concerns around terrorism and Nigeria’s ongoing struggle with poverty.

However, there is another side to the Nigeria story that has been overshadowed both by the recent headlines and the persistence of outdated beliefs and assumptions about Nigeria’s economy. A new report from the McKinsey Global Institute (MGI) (http://www.mckinsey.com/mgi) and McKinsey’s Nigeria office (http://www.mckinsey.com), Nigeria’s renewal: Delivering inclusive growth in Africa’s largest economy, examines the country’s economic potential and finds that with the right reforms and investments, it can become one of the world’s leading economies by 2030.

Download the report: http://mckinsey.com/insights/africa/nigerias_renewal_delivering_inclusive_growth

Photo 1: http://www.photos.apo-opa.com/index.php?level=picture&id=1258 (Reinaldo Fiorini, director and location manager of McKinsey’s Lagos office)

Photo 2: http://www.photos.apo-opa.com/index.php?level=picture&id=1259 (Acha Leke, a director in McKinsey’s Nigeria office)