With the growth rate of 7.5 per cent per annum and all other things being equal, Nigeria's economy may overtake those of the United Kingdom and France by 2050, a UK-based Nigerian lecturer, Dr. Gbenga Oduntan has said.
Dr. Oduntan, who lectures at Kent University, UK, spoke yesterday in Abuja at a special lecture commemorating this year's World Space Week put together in Nigeria by the National Space Research Development Agency (NASRDA).
He said with the speed with which the Nigerian economy is cruising, it is a matter of time before it overtakes UK which is going at a snail speed of 0.3 per annum, adding that the statistics from UK and other European scholars (economists) also suggested that Nigeria is progressing economically faster than most Western economies.
"Those that continually say most Nigerians live below $1 per day may not be right because majority of (poor) Nigerians still recharge their phones with at least N100 airtime almost on a daily basis or at least once in a week," the don said.
"I don't think someone who lives below $1 per day would be able to eat and still recharge his phone. That statistic is implausible," he said.
According to him, Nigeria's market is huge for almost everything and that make its economic growth unstoppable.
"The country also has a very large young population more than the UK and France and that make its prospect for growth even brighter," said Dr Oduntan.
The don, who is an expert in space technology, development and law, also said if the country's policy makers could use the 'Leapfrog Theory' by investing heavily on outer space activities, ICT and science, the country would be at a par with the Asian Tigers in just a few years time. He said the $20 million Nigeria spends on space technology might be too small because some countries invest about $200 billion on it. Click to signup for FREE news updates, latest information and hottest gists everyday
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nonsense,stupid,tricks statement,wayo.Look at!let you people stop deceiving us and yourself,what happened to vission 20-20-20.
ReplyDeleteWe talk of policy we bearly know about. The don,has he gone to the street and see hardship? Mostly Nigeria live less 10dollars a day. So how are we developing economically if not paper and bio talk. We wake to talk rubbish without real facts to our present situation? NigerIan can not provide security to her people talkless of even feeding them in this flood. Please lets be sincere about ourselves and stop comparing with developed countries? Nigeria is jst 52 yrs and UK is more than 300 yrs so we are just taking a babe step not a fast one as UK, if we like let our economic analyst talk all they like if our corrupt leaders don't change we can never be great. Gazula.
ReplyDeletePls tell him 2 wake up if he has finished dreaming.
ReplyDeleteOnly theory based propaganda. I believe the don cannot say this when in UK or France. growth is not by mouth but action plan
ReplyDeleteThis is a joke, I hope he is not a fake lecturer as well.
ReplyDeletethe don is so optimisitc about the nigerian economy yet he has chosen to go and invest his knowledge in d uk rather than stay back home to drive the economy.
ReplyDeleteits also funny that by now the DON does not know dat sometimes theory doesnt always match up to reality.
i also find it funny that he measures the level of poverty by peoples ability to recharge their fones.
Dr Odutan, apply to GEJ directly for a ministerial appointment and stop bamboozling us. Where have u seen a mono cultural economy wholly dependent on a natural resource which price Nigeria cannot determine progress faster than economies founded on micro and macro economic principles. Emphasis here should be economic DEVELOPMENT, not economic GROWTH which is derived from pocketing forty percent royalties from white explorers who pay you according to what they claim they have drilled because not even our Navy is equipped to monitor oil production at sea. We have been exporting two million barrels per day since during Gowon's regime in the 70's, in spite that we have discovered over one hundred percent additional wells in oil deposit terms since Gowon's regime. Who keeps the proceeds of new discoveries? That is the swag you are hoping to be employed to come and partake in sharing if your forecast tickles GEJ's fancy.
ReplyDeleteDr, come home and share in the economic growth cake. UK's economy may crash earlier than you have predicted.
The Don why not just go straight to GEJ for a ministerial appointment rather than confuse the poor with you fake analysis.
ReplyDeletePlease have mercy on the Don. He was asked to talk on science and tech, and he went into economics. I am sure he does not know how many phone lines are operational in Nigeria. He should therefore restrict himself to the area where he is a specialist. Poor Don.
ReplyDelete