Nigeria can emerge 5th largest economy by 2075 – MTN Group CEO
In a keynote speech at the prestigious Business Day CEO forum, Ralph Mupita, the Group CEO of MTN Group, passionately outlined Nigeria’s potential to become one of the world’s largest economies.
Drawing upon a notable report by Goldman Sachs, which projected Nigeria to secure the fifth spot in the global economic ranking by 2075, Mr Mupita reiterated the significance of strategic measures for the nation’s prosperous future.
Mr Mupita’s address underscored the pivotal role played by Nigeria’s burgeoning population, which not only offers a substantial consumer market but also a thriving labor force. Nevertheless, the MTN Group CEO emphasized that unlocking this potential necessitates a comprehensive approach encompassing effective governance, well-crafted economic policies, groundbreaking innovation, infrastructure investments, and substantial improvements in education and healthcare.
“The path to realizing Nigeria’s economic aspirations lies in nurturing an environment conducive to attracting foreign investment and fostering sustainable development,” he stated.
He urged policymakers and stakeholders to prioritize key areas for growth, focusing on essential reforms that can pave the way for Nigeria’s ascent on the global economic stage.
While recognizing the inherent challenges faced by the nation, Mr Mupita remained steadfast in his belief that Nigeria possesses the necessary ingredients to transform into an economic powerhouse.
However, to harness this potential, decisive action is required to address existing gaps and bolster Nigeria’s competitiveness in the global marketplace.
Looking ahead, the Group CEO painted an optimistic picture of Nigeria’s future, envisioning a scenario where the nation, through unwavering commitment and astute policy implementation, could claim its rightful place among the world’s leading economies.
As foreign investment pours in, bolstered by improved infrastructure and a skilled workforce, Nigeria could ultimately secure the coveted fifth spot in the global economic hierarchy by 2075.
