Chamberlain S. Peterside writes:
Based on a recent report published by Goldman Sachs (US based global investment bank), within the ranks of so-called BRIC Nations making remarkable strides are not only Brazil and Russia (in addition to India and China), but also a new group of highly populated, resource-rich countries numbering about 11; including Indonesia, Pakistan Vietnam, Philippine, Turkey, and Nigeria – yes Nigeria. Based on the analysis, these countries are well-positioned to assume commanding heights in the future global economy. The forecast indicated that Nigeria might become one of the twenty largest economies by 2025 if it gets its act together.
As empirical evidence in advanced countries suggest, there is a direct correlation between income level, home ownership, rule of law, access to capital/information, equal opportunity and economic prosperity. Nations can hardly attain developed status and high standard of living for the majority without these key attributes. As poor countries emerge from underdevelopment in a new global village it is instructive that they utilize every opportunity to strive for not just quantitative growth, but also qualitative transformation that is measurable in the living conditions of its people.
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