Tag Archives: credit crunch

Nigeria’s Economy Set to Grow by 10%

At a time when most economic news tends to be doom and gloom about jobs (or lack thereof!), unemployment, poor housing and stock markets….some good economic news from west Africa – Nigeria precisely.


Nigeria’s economy is predicted to record 10% (yes TEN PERCENT) growth by the end of 2011 or early 2012 – at a time when the world is still reeling from the worst recession in living memory. The Nigerian economy grew by more than 7% in the first half of 2010.

Nigeria’s Finance Minister Olusegun Aganga (a former Managing Director at Goldman Sachs) claims that he is being contacted by investors across the world. He said:

“There’s no week that I don’t see two, three, four major investors from other parts of the world. Brazil, Germany even China, all these other countries. All of them bringing or wanting to come and invest in the country”.

Nice to hear some good news from Africa. This is the sort of coverage I want to see – and less about civil wars, diseased kids and poverty.