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Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068675 Category : Languages : en Pages : 259
Book Description
Nigeria is the largest economy in Africa with a GDP of $ 487bn in 2015, according to the World Bank. The country asserted the mantle of the continent's largest economy in 2013, following a rebasing exercise. However, its large population means that Nigeria remains a comparatively poor country in per capita terms, with a lower GDP per capita than several of its sub-Saharan neighbors. Following a real GDP contract of 1.5% in 2016, the IMF forecasts that growth will reach 0.8% in 2017 and 1.9% in 2018. While growth began to pick up in the first half of 2017, Nigeria still has much work to do. However, there is the sentiment that the economy has turned a corner and has begun to see a silver lining. Devaluation of the naira, rising inflation, the drop in oil revenues, the slowdown in oil production, and the leader softening of growth,
Author: Oxford Business Group Publisher: Oxford Business Group ISBN: 1910068675 Category : Languages : en Pages : 259
Book Description
Nigeria is the largest economy in Africa with a GDP of $ 487bn in 2015, according to the World Bank. The country asserted the mantle of the continent's largest economy in 2013, following a rebasing exercise. However, its large population means that Nigeria remains a comparatively poor country in per capita terms, with a lower GDP per capita than several of its sub-Saharan neighbors. Following a real GDP contract of 1.5% in 2016, the IMF forecasts that growth will reach 0.8% in 2017 and 1.9% in 2018. While growth began to pick up in the first half of 2017, Nigeria still has much work to do. However, there is the sentiment that the economy has turned a corner and has begun to see a silver lining. Devaluation of the naira, rising inflation, the drop in oil revenues, the slowdown in oil production, and the leader softening of growth,
Author: World Bank Publisher: World Bank Publications ISBN: 1464814414 Category : Business & Economics Languages : en Pages : 241
Book Description
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: Publisher: ISBN: 9781585662036 Category : Failed states Languages : en Pages : 0
Book Description
" This monograph describes how a failed state in 2030 may impact the United States and the global economy. It also identifies critical capabilities and technologies the US Air Force should have to respond to a failed state, especially one of vital interest to the United States and one on the cusp of a civil war. Nation-states can fail for a myriad of reasons: cultural or religious conflict, a broken social contract between the government and the governed, a catastrophic natural disaster, financial collapse, war and so forth. Nigeria with its vast oil wealth, large population, and strategic position in Africa and the global economy can, if it fails disproportionately affect the United States and the global economy. Nigeria, like many nations in Africa, gained independence from the United Kingdom in 1960. It is the most populous country in Africa and will have nearly 250 million people by 2030. In its relatively short modern history, Nigeria has survived five military coups as well as separatist and religious wars, is mired in an active armed insurgency, is suffering from disastrous ecological conditions in its Niger Delta region, and is fighting one of the modern world's worst legacies of political and economic corruption. A nation with more than 350 ethnic groups, 250 languages, and three distinct religious affiliations--Christian, Islamic, and animist Nigeria's 135 million people today are anything but homogenous. Of Nigeria's 36 states, 12 are Islamic and under the strong and growing influence of the Sokoto caliphate. While religious and ethnic violence are commonplace, the federal government has managed to strike a tenuous balance among the disparate religious and ethnic factions. With such demographics, Nigeria's failure would be akin to a piece of fine china dropped on a tile floor--it would simply shatter into potentially hundreds of pieces."--DTIC abstract.
Author: International Monetary Fund. African Dept. Publisher: International Monetary Fund ISBN: 147559190X Category : Business & Economics Languages : en Pages : 90
Book Description
This 2017 Article IV Consultation highlights low oil prices’ and falling oil production’s blow to the Nigerian economy. The country entered a recession in 2016, with growth contracting by 1.5 percent. Annual inflation doubled to 18.6 percent, reflecting higher electricity costs and fuel tariffs, a weaker naira, and accommodating monetary conditions. Even with significantly lower capital spending, the consolidated fiscal deficit increased from 3.5 percent of GDP in 2015 to 4.7 percent of GDP in 2016. Under unchanged policies, the outlook remains challenging and growth would pick up only slightly to 0.8 percent in 2017, mostly reflecting some recovery in oil production and a continuing strong performance in agriculture.
Author: Ayo Teriba Publisher: ISBN: Category : Languages : en Pages : 8
Book Description
The economic events of 2016 taught us a lot of hard lessons about Nigeria's interface with the global economy, and the links with domestic growth, stability and policy responses. This paper attempts to distill some of the lessons and clarify the outlook.Weak commodity prices brought Nigeria's growth to a very abrupt end and inflicted heavy bouts of devaluation of the Naira. The downturn tested our counter-cyclical policy capability and revealed weaknesses in both fiscal and monetary responses.Falling revenue constrained counter-cyclical fiscal response, while the central bank pro-cyclically hiked rates twice in the year, and further amplified the downswing by obstructing legitimate foreign exchange transactions, while, it could easily have eased rates and sought increased capital inflows to counter the downswing, as the over-subscription of Nigeria's Euro-bond issue has now revealed to be an option.Nigeria needs to look beyond exports as a source of external financing, and boost foreign investment inflows. Nigeria is currently very closed to foreign investment as many large infrastructure sectors that could be major investment destinations remain under government monopoly.Nigeria needs to break government monopoly across all infrastructure sectors, including rail transportation, power transmission, gas pipelines, oil refining, education and health, among others, and take immediate practical steps to open them up to foreign investment now.Weaknesses in rail transportation and energy infrastructure makes agriculture, mining and manufacturing uncompetitive in Nigeria. Rebuilding rail transport and energy infrastructure by opening them up to foreign investment now will revive agricultural, mining and manufacturing production and exports in the medium term, and make the Nigerian economy more resilient to global shocks.Although the cyclical tide has turned upward to brighten the outlook in 2017, boosting foreign investment inflows and rebuilding nationwide rail transport and energy infrastructure immediately is still required to ensure stability in the future, release Nigeria's latent growth energies, and ensure brighter long term economic outlook.
Author: Tim Livsey Publisher: Springer ISBN: 1137565055 Category : History Languages : en Pages : 296
Book Description
This book explores the world of Nigerian universities to offer an innovative perspective on the history of development and decolonisation from the 1930s to the 1960s. Using political, cultural and spatial approaches, the book shows that Nigerians and foreign donors alike saw the nation’s new universities as vital institutions: a means to educate future national leaders, drive economic growth, and make a modern Nigeria. Universities were vibrant places, centres of nightlife, dance, and the construction of spectacular buildings, as well as teaching and research. At universities, students, scholars, visionaries, and rebels considered and contested colonialism, the global Cold War, and the future of Nigeria. University life was shaped by, and formative to, experiences of development and decolonisation. The book will be of interest to historians of Africa, empire, education, architecture, and the Cold War.
Author: Alexander Thurston Publisher: Princeton University Press ISBN: 0691197083 Category : History Languages : en Pages : 346
Book Description
"Thurston has written the definitive history of Boko Haram. By weaving a complex tapestry of politics and religion, he explains the peculiarity and potency of one of the world's most lethal jihadist insurgencies. A violent and secretive sect that was impenetrable even to experts is now laid bare."--William McCants, author of The ISIS Apocalypse.e.
Author: Oxford Business Group
Author: Oxford Business Group
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Author: World Bank
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Author: International Monetary Fund. African Dept.
Author: Ayo Teriba
Author: Tim Livsey
Author: Alexander Thurston
Author: Tunji Olaopa
Author: Benson C. Olugbuo