President Goodluck Jonathan has disclosed that a positive paradigm shift occurred on Sunday as Nigeria became the largest economy in Africa and the 26th in the world. The President also described the shift as “work in progress”.
With the rebasing of the economy for the first time in 24 years, Nigeria moved ahead of South Africa which was the largest African economy prior to the rebasing.
An excerpt from the President’s official Facebook page on Monday reads: “Yesterday, our Gross Domestic Product was rebased to give an accurate picture of where we are as a nation. I am glad to report to you that Nigeria is officially the largest economy in Africa with a Gross Domestic Product of $510 billion which also places us as the 26th largest economy in the world.
This feat is a collective achievement of all Nigerians particularly when you take into account the fact that our Per Capita Income had increased by over 60% from $1091 in 2009 to $1700 in 2013, prior to the rebasing.
While this calls for celebration, I personally cannot celebrate until all Nigerians can feel the positive impact of our growth. There are still too many of our citizens living in poverty.
Three years ago, I was asked to define Transformation and I said “Transformation in my view simply means taking what you have and making the best of it and in so doing produce results that can bring about a paradigm shift”.
That positive paradigm shift, as occurred yesterday, is still a work in progress.
Regardless of our present challenges, our place as a nation at the table of greatness is assured”.