Nigeria, Africa’s biggest oil producer, will be the next “gold rush” on the continent as investors take advantage of a booming economy, former South African central bank Governor Tito Mboweni said. Nigeria’s gross domestic product will overtake South Africa’s in the next three decades, Mboweni, who is now an adviser for Goldman Sachs Group Inc., said in an interview in Johannesburg on Oct. 8. Its economy of $169 billion compares with South Africa’s $286 billion, according to World Bank data.
“Nigeria is going to be Africa’s growth story for the next 15 to 20 years,” Mboweni said after returning from a visit to Nigeria’s capital, Abuja, and the commercial hub, Lagos, as part of a delegation from Goldman Sachs.
(Source: ferenji, via loveronamission)