NIGERIA’S Gross Domestic Product (GDP) will hit $120 billion this year, notwithstanding the current global economic recession and dwindling crude oil revenues.
Dr. Goodluck Jonathan, Nigeria’s vice-president disclosed this at an investors’ forum, organised by BNP Paribas Consortium, the transaction advisers in Nitel privatisation, at the instance of the National Council on Privatisation.
Jonathan, who spoke in Manhattan, New York, through Mr. Sam Worlu, his senior special adviser on economic matters, also assured prospective investors in the privatisation of Nitel of the “government’s determination to get it right this time.” The vice-president disclosed that the federal government is pursuing a deliberate policy on privatisation, spanning various sectors of the economy with the firm belief that the private sector must be the engine room of growth and job creation.
He said Nigeria, through Nitel privatisation, is offering investors great opportunity to build strategic position in Africa’s largest market with strong growth potential. He added that with population of over 140 million, the country displayed real strong GDP in 2008 and was expected to grow 6.5 per cent and reaching $120 billion in 2009, despite global recession.
Jonathan said Nigeria offers high potential to investors and remained the largest telecoms market in sub-Sahara Africa, due to its large and fast growing population, strong external and internal investments and positive industry reforms.