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Executive Summary of the 25th Nigerian Economic Submit, Nigeria 2050: Shifting Gears

Nigeria’s economic development is at a turning point. The Federal Government’s Economic Recovery and Growth Plan will run out next year, the United Nations has projected that the country’s population will double by 2050 to 410 million, the Africa Continental Free Trade Area has come into effect, the world is standing on the brink of a Fourth Industrialization Revolution and global economic outlook which has been characterized by economic nationalism and trends towards deglobalization remains volatile but cautiously optimistic. The outcomes produced by the interplay of these dynamics will fundamentally alter Nigeria’s medium to long term trajectory from 2020 to 2050.