See what Nigerians home and abroad think about overtaking the South African Economy

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One of the essences of the rebasing is simply for branding (Us and China are the biggest economy in the world, this alone put them in the minds of investors); and Nigeria is the biggest economy in Africa rings a bell. The rebasing may not directly put money in our pockets in the short term but it can do that in the long term by attracting investors who would eventually create jobs. The size of any economy in terms of GDP simply tell any investor the capacity of that economy to absorb different goods and services at any point in time “T”; and these are part of the things discussed in board rooms when the fortune 500 companies take decisions on the countries to invest. 

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With this new status, Nigeria has become number one investment destination in Africa. Most of the infrastructural deficit we are always talking about, be it roads, water, power, education, health etc. can be taken care of by private investors who are only looking for people to patronize their goods and services; they can run these side by side the ones provided by government and people that can afford their services and who yearn for easily accessible quality and efficient services would patronize them and this would reduce the pressure on those owned by the government. It was a big surprise to a lot of international investors how MTN blossomed when they came to Nigeria; this was because they did not know the size of Nigeria economy, and MTN was handsomely rewarded later; even Vodacom as at then said they would not touch Nigeria with a long spoon which they later regretted when they saw how MTN ripped hugely from the risk they took on Nigeria.


So like I said earlier, the rebasing would not immediately put money in our pockets; but it could help to brand our huge market potentials to the world; which could guide investors when they take decisions on the countries to invest their money. MTN, DStv, Dangote, glo, etc are all making it because of the huge market potential that Nigeria presents and the rebasing is only there to confirm it for people that need figures to take business decisions. The issue should be; how do we restructure Nigeria to maximize this potential?