ECOWAS Forecast: Nigeria Could Be 5th-Largest Economy in 50 Years

New projections from ECOWAS suggest Nigeria could become the world’s fifth-largest economy within the next 50 years. The forecast, presented at the bloc’s parliamentary session in Abuja, highlights strong prospects if regional trade and long-term reforms continue to accelerate. ECOWAS economists also predict that Ghana and Côte d’Ivoire may join the global top 15 economies within 25 years. Nigeria’s journey from an agriculture-based economy at independence to an oil powerhouse in the 1970s has spurred rapid reforms since 1999. Growth in banking, telecoms, fintech, entertainment and manufacturing now complements traditional exports. Officials say deeper West African integration will drive the next phase of growth. Recent currency reforms and lifting fuel subsidies have been tough but are expected to boost competitiveness and attract foreign investment.

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