Nigeria Scales Up To 36th Position On Global GDP Ranking ...A 6.6 Percent Growth Rate, One Of The Fastest Obtainable Worldwide

The Federal Government yesterday said the nation had witnessed
improvement in the global Gross Domestic Product ranking from number
44th in 2010 to 36th in 2012, recording a 6.6 per cent economic
growth,one of the fastest growth rates obtainable anywhere in the
world.
photo
President Goodluck Jonathan, who wasrepresented by Vice-President
NamadiSambo, said this while declaring open the 6th National Diaspora
Day Conference organised by the Office of the Secretary to the
Government of the Federation in Abuja.
The conference had as its theme, 'Diaspora Nigerians -Agents of
investment and development.'
"We have further reduced our fiscal deficit in the 2013 budget to 1.81
per cent of the GDP and significantly cut domestic borrowing,"
Jonathan said.
He also applauded Nigerians in the Diaspora, who had responded
positively to the call for greater involvement in the nation building
process, adding that they should be very proud for their remittances
and investments in Nigeria's fast-growing stock market, real estate
and other business ventures.
The President said, "We are creating anenabling environment to attract
both foreign and local investors into the country. Nigerians in
Diaspora must now respond positively to the invitation to come home
and contribute to the development of this nation.
"As a concrete step towards achieving our objectives, this year's
Diaspora conference should be greatly focused and result-oriented. The
success of countries such as India, China, Pakistan,Thailand and the
Philippines, which have strategically engendered the Diaspora as a
mechanism to accelerate national development, is an excellent model
for us to understudy.
"The Indian experience, in particular, has shown that Diaspora
communities are important sources of Foreign DirectInvestment, trade
linkages, knowledge and technology transfer. Having lived abroad and
embraced international best practices, Nigerians in Diaspora possess
the requisite experience, expertise and contacts to contribute to all
facets of our national life.''