Nigeria Ranked 39th Among Leading Economies

Nigeria has recently been ranked 39th among leading economies in the world. The Minister of National Planning, Dr Shamsudden Usman, while inaugurating the Vision 20:2020 central working committee said the ranking is based on the latest indices on the nation’s Gross Domestic Product (GDP) performance level. With prospects that the ranking would get better once the ongoing GDP rebasing exercise had been concluded. He stated that the development showed clearly that the ongoing Transformation Agenda of the Federal Government, particularly its three-phased National Implementation Plan components, was achieving the desired results. The minister, who described the work of the committee as crucial to government’s efforts to reposition the nation’s economy as one of the biggest globally by 2020 stated the need to set a target. He added that failure to set a target could lead to disruption in the Vision 20:2020 project. Usman, who disclosed that Nigeria was making progress, stated that the country had actually climbed to about 39 from 44. The committee, which has as its chairman, Mr Moses Akpabosa, has the following terms of reference: Determining the scope of the first NIP review period; developing and agreeing on template for the review; determining the structure and format for the review of the first NIP and working closely with MDAs and the National Planning Commission with a view to obtaining relevant inputs on the achievements of the key performance indicators and reviewing the macroeconomic framework and other sectoral targets for the plan period.

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Osaro Agho


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