Welcome to the world’s fastest rising economy – Nigeria

While emerging markets are hardly the flavour of the month, says Matthew Lynn, Nigeria is the exception on investors' lips.

What's the fastest-rising power in the global economy? The one set to dominate the 21st century? The place everyone wants to invest? And the market that every chief executive wants to get a foothold in? Until recently, it's been China. But from next year, it could well be Nigeria.

A few people in the financial markets have been pointing to the rapid growth of sub-Saharan Africa for some time, but it is yet to hit the mainstream. Most people still have a view of Africa dominated by what they see on the news: war, famine, and grinding poverty. It needs a catalyst to change people's mind. The most likely candidate? By 2015, and possibly as early as next year, Nigeria will be the fastest-growing major emerging economy.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.