McKinsey & Company Report on Nigeria

by Developed Africa 13. June 2014 09:00

A recent report from McKinsey & Company claims that the sectors of agriculture, trade, manufacturing, and infrastructure may contribute up to $800bn to Nigerian GDP by 2030.

This prediction, however, is not just going to come naturally without any work. This estimation was made assuming that real focus was put into these sectors; for example for agriculture to reach its potential Nigeria would need to focus on:

boosting yields, shifting more production into high value crops, reducing post-harvest and distribution losses, and increasing scale production. The biggest opportunity in agriculture is improving crop yields, which accounts for 39 per cent of the upside potential."

The report also touched upon infrastructure, and pushed for large scale investment into infrastructure, most notably in transport and energy, in order to see leaps in the countries growth rates.

based on extensive analysis of available data a interviews with stakeholders in the country, it estimated that "there is a potential for the investment of $871bn in core infrastructure through 2030 to support an upside GDP growth scenario."

Furthermore, the report also included assertions that Nigeria remains an attractive investment destination for international investors citing its large youth population and steady growth as particular points of attraction.

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