Renowned economist and Professor of Finance at the University of Ghana, Godfred Bokpin, has projected that Nigeria will rank among the top five largest economies in the world by 2075.

In an interview with GhanaWeb’s Ernestina Serwaa Asante, Professor Bokpin pointed out the growing dominance of Nigerian financial institutions across Africa, citing banks such as Access Bank, UBA, and Zenith Bank as prime examples.

He contrasted this with Ghana’s banking sector, questioning the global footprint of indigenous Ghanaian banks.

"The Nigerians are taking over the financial space, right? They are the big regional banks, the Access Bank, the UBA, and the Zenith. Tell me one indigenous Ghanaian bank that has gone beyond even Accra?

“By 2075, Nigeria will be among the top five economies globally. Where will Ghana be? I’m not saying we should compete with Nigeria, but we can certainly ride alongside,” he said.

Oil prices drop nearly 4% amid global trade war

Professor Bokpin stressed the need for Ghana to be intentional about nurturing homegrown businesses, not just to thrive locally, but to compete regionally and globally.

"So, we should be intentional about growing some of our indigenous businesses, not only to be local champions at the regional level, but then at the global level. That is the only way we can make it," the economist added.

Calling on government and key stakeholders, Professor Bokpin urged for stronger support systems to empower businesses to succeed.

He pointed to Singapore as a model of transformation, noting how the country has evolved into one of the world’s most attractive destinations through strategic development and business-friendly policies.

SA/AE