Size does matter, but development counts too

11 April 2014

In the South Africa/Nigeria top-dog economic debate, development is also a significant factor. Most of Nigeria’s 170-million people live below the poverty line and felt no benefit from Nigeria’s new position as Africa’s biggest economy.

Nigerian leaders hope this status will attract investors, including mall-builders, manufacturers and retailers. But development economists argue that their attention should be on improving the health, education and incomes of ordinary Nigerians, many of whom struggle to feed their families.

“World Bank chief Africa economist Francisco Ferreira said: “I don’t want to rain on Nigeria’s parade … but what matters are living standards for everyone.”

But, says Oscar Onyema, chief executive of the Nigeria Stock Exchange, said. “Size matters. “Size means you can undertake … projects you would not have considered in smaller economies.”
By: Reuters
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