Nigeria, Ghana among the top three fastest growing global markets
Aug 2nd, 2012 by admin
Nigeria and Ghana have been assessed to be among the three fastest growing markets among the 25 leading rapid-growth ones in the world, a report just released by Ernst and Younghas revealed.
According to the global body in its quarterly Rapid-Growth Market forecast (RGMF), economic expansion in the 25 leading Rapid Growth Markets(RGMS) has started to slow sharply since the beginning of this year but this will only be a temporary blip.
However, Ernst & Young believes that the power sector holds the key to Nigeria’s economic growth and development.
It stated “There is a mixed picture emerging across the world. Although Asia is likely to lead the way, Africa remains resilient overall, with Ghana and Nigeria among the three fastest growing of the RGMs this year.
Senior Partner, Transaction Advisory services, Ernst & Young, Nigeria, Bisi Sanda , on the other hand believes that power sector holds the key to the Nigeria’s economic growth and development.
“If the government of Nigeria completes its privitisation of the power sector assets in 2012, it will provide much required fresh breath to the much delayed reactivation of stimulus of the manufacturing sector, including the reactivation of over 100 textile mills closed down or relocated from Nigeria between 2000 and 2007.
Culled from the The Guardian