KPMG states: “For example, the consensus of analysts is a GDP growth in 2023 of between 2.7% and 3.2%. Thus, if we assume a GDP growth of 3% in the first year, the economy will then have to grow by an average of 7% for the subsequent three years and moving growth from a forecasted 3% in 2023 to at least 7% in 2024 and afterwards, seems overly ambitious.”
KPMG said attaining a six percent real GDP growth on average from 2023 to 2026 means growing the value of real GDP from N74.6 trillion in 2022 to N92.5 trillion by 2026, representing an increase of N17 trillion in four years.
The professional services firm explained that within 12 years (2010 to 2022), real GDP grew by about N17 trillion which will have to be replicated in just four years and within a much more challenging macroenvironment that cuts across the fiscal, monetary, external, and real sectors.
