Bolaji Balogun, CEO of Chapel Hill Denham and an economic expert, has expressed a contrary viewpoint to Nigeria’s official Gross Domestic Product (GDP) estimates, suggesting that the country’s GDP might be valued at approximately $600 to $650 billion.

While Nigeria’s Bureau of Statistics previously estimated the country’s GDP to be well over $400 billion as of 2021, Balogun, during his keynote address at the Annual Enterprise Table and the 5th-anniversary celebration of Deal HQ Partners, disagreed with this figure.

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He argued that when considering all relevant economic indicators, Nigeria’s economy could be valued at $600 or $650 billion.

Bolaji Balogun further emphasized that sectors such as agriculture, solid minerals, and the creative economy could be pivotal in driving Nigeria’s economic growth.

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He highlighted the importance of infrastructure investment for Nigeria to harness these economic resources effectively.