Nigeria inflates its ambitions.

Position:Organization of Petroleum Exporting Country - Brief article

Nigeria is in the fortunate position of being the Organization of Petroleum Exporting Country's (OPEC) sixth biggest member. Oil brings the country enormous revenues, which under appropriate management could begin to build an economy that includes a much higher proportion of its potential consumer base.

In a speech at Nigeria's National War College on October 12, 2006, Nigeria's Finance Minister told her audience that the current government's ambition was to become the world's twentieth largest economy by 2020. According to September 2006 estimates from the International Monetary Fund (IMF), Nigeria has the 47th biggest economy in the world (calculated on the basis of Purchasing Power Parity-PPP). The current occupant of the number 20 spot is South Africa with GDP of us$638-billion. Nigeria's 2006 GDP is estimated at us$200-billion.

The Finance Minister also said that with current reforms underway and taking hold, Nigeria has the potential to grow...

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