Expert: Nigeria's Economy Likely Much Larger Than Official Estimates, Could See Growth from Key Sectors
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Nigeria's GDP is likely around $600-650 billion, higher than current official estimates of over $400 billion, according to economic expert Bolaji Balogun.
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Balogun believes the economy is undercounted because it doesn't fully measure the informal economy, agriculture, solid minerals, and creative sectors.
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Population growth drives economic activity and growth according to Balogun.
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Key sectors like agriculture, solid minerals, and creative industries can catalyze Nigeria's growth.
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Infrastructure investment is critical for Nigeria to take advantage of these sectors and resources.