Approaching its 50th anniversary of independence in 2010, Nigeria and its 140 million citizens can put the troubles of the past behind them and look to the future with some optimism. Research from Goldman Sachs suggests that Nigeria could sustain growth rates of between 5% and 7% over the next 40 years, placing it among the world’s top 20 economies by 2025. Yet the beckoning prospect of prosperity is far from assured and could well be dashed unless nascent reforms become ingrained in the economic and political culture.
The first hurdle, the peaceful transfer of power to another civilian administration at forthcoming elections in April, will be critical to the country’s future. Sustaining the momentum of governance and economic reform will be of paramount importance for the incoming government.
