Wednesday, July 19, 2017 11.49AM / PwC Nigeria
Between 2007 and 2016, Nigeria's investment share of GDP declined from 18.7% to 12.6%, reaching the lowest level in the past two decades. Our recent economic paper, Boosting Investments: Nigeria's path to growth, estimates the size of investment needed to drive growth.
Growth in Nigeria has been relatively strong at an average of 5.6% per annum over the past decade. However, this has been fuelled by the oil boom and population expansion, rather than investments.
To reach its conclusions, the paper conducted an extensive review of economic literature, and analysed a panel data of 13 emerging economies between 1991 and 2016. The analysis revealed that investment is the most fundamental driver of growth.
Furthermore, the paper concludes that Nigeria requires at least an investment of 20% of GDP per annum, which is far above the investment level of 12.6% of GDP in 2017.
For further details: Contact Adedayo Akinbiyi E-mail: firstname.lastname@example.org
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