Why Nigeria Should Be Able For Build A Prosperous Economy

Why Nigeria Should Be Able For Build A Prosperous Economy
Nigeria has a current GDP of 568.5 billion and a population of 178.5 million. It is the largest
country in Africa with approximately 47% of West Africa's population. It is the main oil exporter in
the continent, has around 44 solid minerals in commercial quantity, and is a leading global player in
a variety of commodities. Neoclassical Exogenous Growth theory argues that technology enables
persistent increase in growth rate. Neoclassical Endogenous Growth argues growth comes by
investing in key areas such as education, R&D, skills and knowledge. Both explain why Nigeria
should be able to build a prosperous economy, reduce poverty and create wealth once investments
are shifted to key areas and technology is imported and implemented. To attract capitals, including
foreign direct investments, Nigeria will focus on developing the manufacturing sector (World Bank,
2014). The diversity of the country's export base has been eroded by focus on hydrocarbon
activities, however limited growth in the non–oil sector has helped diversify the economy during the
past decade. Agriculture remains relevant as main source of employment. In the 1990's, uncontrolled
debt levels, debt restructuring, failure to meet payment deadlines and write–offs damaged Nigeria's
a reputation. Nigeria returned to civilian rule in 1999, after independence from Great Britain in 1960
was followed by years of military rule. (Nigerian Government, 2015). (+) Generous natural
resources Nigeria has suitable climate and
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The Challenges Of Colonialism And Imperialism In Nigeria
Imperialism has set our country back half a century. When the British came in in 1910 and colonized
our country, Nigeria, it changed everything. Our education system was negatively affected. Our
country became extremely controversial in a religious aspect. All in all, if the British did not come
and colonize our home, our country would be at a much better place today.
If we were to receive this grant from the UN, it would be more than helpful to our country.
Education would drastically improve if we received the grant. New schools and facilities would be
built, more qualified teachers would be hired, and a better school environment would be established
for the safety of the kids. As a country, our economy has been on a major downfall. In order to help
fix this, the grant is needed to help rebalance the economy. We must empower more entrepreneurs
and producers to create products that the our people need and desire. Finally, the last reason we are
in dire need of these money is to help end corruption. The corruption in our country is our biggest
problem. The corruption has led to significant poverty and an exceptionally low unemployment rate.
With the money we would invest into the government to try and create more transparency with the
our people. Overall, our country is at a place where a grant would be crucial to our future
development. We believe that this grant of money will push this country to a brighter future.
Nigeria has a unique history in the terms of which

Nigeria And South Africa The Legacy Of The British
Nigeria and South Africa–The Legacy of the British Nigeria and South Africa are two of the largest
countries in Africa. These countries are very diverse with rich in cultures and and strong resources
that would make any country great. However, these countries apparent strengths are what is
dooming these nations. Nigeria's rich and diverse culture is cause much tension between different
regions in the nation as there is dispute over which culture has the right to the country's resources.
While most of the money coming from the south, and the power and military strength is based in the
north, the tension between the two worlds continues to collide and cause constant uproars. Leaders
of the nation are corrupt and are stealing the revenue made from oil and other exports. South Africa
is in a similar situation as the legacy of white lead settler rule is causing much tension between the
white and the black today. Whites control much of the businesses and productivity in the country
while the black South Africans work for the whites. This causes much tensions between to two
groups as there is little room for class mobility. Corruption is also apparent here as the South African
government is often bought by the rich and steals much of the profit from the resources which
depletes funds that are supposed to be used for the population. This is what Stephen Chan and John
Campbell say that sustainable economic growth has eluded the two countries and will continue to
hinder economic

Financial Intermediation and Economic Development in Nigeria
Abstract
Financial intermediation is an important activity in the economy because it allows funds to be
channeled from people who might otherwise not put them to productive use to people who will
ultimately put the funds to productive uses. In line with the assumption that banking sector plays an
important role in financing the investment projects, successive governments in Nigeria have carried
out reforms and institutional innovations in the banking sector. The overall intention of these
reforms has been to ensure financial stability so as to influence the growth of the economy and also
enhance banks to play a critical role of financial intermediation in Nigeria. However, despite the fact
that Nigerian banks have undergone series of ... Show more content on Helpwriting.net ...
The efficiency and effectiveness of financial intermediation in any economy depend critically on the
level of development of the country's financial system. In effect, the underdeveloped nature of the
financial system in most developing countries accounts largely for the relative inefficiency of
financial intermediation in those economies. In these countries the financial system is dominated by
banks, which are typically oligopolistic in structure and tend to concentrate on short–term lending as
against investments with long–term gestation period. The alternative/complementary source for
financing development projects is the development of debt or equity markets which at best, is at the
rudimentary stage of development. It is in this regard that specialized financial institutions,
including government owned development banks have been established in Nigeria to bridge the gap.
The principal function of deposit money banks is the mobilization of savings for investment. The
importance of banks in generating growth within an economy has been widely acknowledged, for
example Schumpeter (1932) cited in Blum, Federmair, Fink, and Haiss (2002) identified bank's role
in facilitating technological innovation through their intermediary role. Schumpeter

Nigeria 's Economy And Natural Resources Essay
Introduction
Nigeria is the most populated country in Africa and the seventh most populated country in the
world. It has the 20th largest economy in the world with a $500 billion to $1 trillion Gross Domestic
Product (GDP) with an emerging market and large oil and limestone natural resources. This is
significant knowing that limestone is a mineral source that is used in most products you use every
day including paper, bottles, paint, building supplies, and food. (WIKIPEDIA, 2015)
Through maximum exploration and exploitation, Nigeria can earn more foreign exchange to
complement its earnings. In addition, the utilization of this product will create job opportunities for
unemployed Nigerians and act as a job multiplier for other industries and business. Nigeria's
economy and natural resources place them in a position to become one of the largest economies in
the world.
Current Events
Since 2002, the Northeast portion of the country has seen a rise in sectarian violence from Boko
Haram, an Islamic organization whose goal is to remove the current government and establish
Sharia Law. During the last three years, this group has focused on murder, human trafficking, and
kidnapping both girls for ransom and young males to train and fight. On 7 July 2014, 63 woman
kidnapped by Boko Haram escaped their captors and approximately 200 schoolgirls are still being
held. This situation has garnered outrage around the world. Even reaching the Whitehouse with
support from the First Lady, Mrs.

Nigerian Economy: Macroeconomic Analysis
sisNigeria – Country Report 2012 61310039 Indian School of Business 7/6/2012 Contents
Economic Overview 3 Gross Domestic Product (GDP) 3 GDP Composition 4 Inflation 4 Shadow
Economy 5 Trade Overview 5 Foreign Debt 7 Labor Market & Human Capital 7 Population
and Income Inequality 8 Unemployment 9 Currency 10 Money Supply and Monetary Control 10
Fiscal policy 12 Exchange rates 12 Interest Rates 13 Foreign Direct Investment 14 Globalization
and Comparative Advantage 14 Conclusion 15 References 16 Economic Overview Nigeria's
economy is estimated to be worth about $262bn, making it one of the largest economies in Africa.
The estimates and analysis of various indicators is discussed in the later sections. The country has ...
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Nigeria figures 133rd on the Doing Business in Index among 183 world economies and 15th among
the 46 sub Saharan African economies. The trade balance of Nigeria for period 2007 to 2011 and
forecasted data for 2012 and 2013 is given below. | 2007 | 2008 | 2009 | 2010 | 2011 | 2012(F) |
2013(F) | Trade balance | 37,748 | 45,885 | 25,342 | 20,237 | 34,528 | 34,131 | 28,778 | Goods:
exports fob | 66,040 | 85,729 | 56,121 | 73,698 | 103,847 | 114,068 | 111,836 | Goods: imports fob | –
28,291 | –39,844 | –30,779 | –53,461 | –69,319 | –79,937 | –83,058 | Services balance | –16,902 | –
22,113 | –16,479 | –19,231 | –24,761 | –24,278 | –25,914 | Income balance | –11,747 | –15,059 | –
14,404 | –18,623 | –22,905 | –20,913 | –24,624 | Current transfers balance | 18,545 | 19,366 | 18,694 |
20,092 | 25,004 | 27,387 | 28,562 | Current–account balance | 27,643 | 28,079 | 13,153 | 2,476 |
11,867 | 16,327 | 6,802 | Source: Economic Intelligence Unit | Nigeria and its neighboring African
nations have imposed strong continental Trade Barriers which is depriving the continent of new
sources of economic growth, new jobs and leading to a sharp fall in poverty and other factors.
However, many African countries are losing several billions of dollars in potential trade earnings
every year, because of high trade barriers with neighboring countries. It is easier for Africa to trade
with the rest of the world than with itself. The Policy

Causes Of Unemployment In Nigeria
Unemployment in some cases is not an individual problem. While some may think that
unemployment is always the beholders fault, in Nigeria however, it is quite the contrary. Raw data
and statistics can show exactly why a country has an unemployment problem. Along with that,
causes of unemployment can be significant to why unemployment is such a critical problem. Even
more, the effects of unemployment hint to the future of any country that struggles with this. With all
of this in mind, one must wonder how much unemployment really affects a country. Sometimes, the
cold hard facts will provide better evidence to why unemployment is more of a problem than some
realize. Statistics can be just as vital to understanding the problem of unemployment. Nigerian
unemployment rate has skyrocketed from 10.4% in the last quarter of 2015 to 14.2% in the
respective last quarter in 2016. That is an increase of 3.8% which is the highest job spike since 2009
("Nigeria Unemployment Rate" P.1.). 3.8% may not seem like a lot, but since Nigeria has a
population of 192 million (10/31/17) (Nigeria Population LIVE P.1), 7,296,000 became
unemployed, making the total amount of people unemployed 27,264,000. "In the previous quarter,
the jobless rate was 13.9 percent. Unemployment Rate in Nigeria averaged 9.76 percent from 2006
until 2016, reaching an all time high of 19.70 percent in the fourth quarter of 2009 and a record low
of 5.10 percent in the fourth quarter of 2010" ("Nigeria Unemployment Rate"

The 's Education Crisis : Boko Haram Targeting Schools
Morgan Winsor in "Nigeria 's Education Crisis: Boko Haram Targeting Schools, Teachers, Students
Is Devastating Africa 's Largest Economy" from International Business Times, December 2015
analyzes the aftermath of Boko Haram's neverending actions of destroying local schools,
communities, and families. Winsor's critical observations lead into how Boko Haram's effect on
education will impact Nigeria's– a newly industrializing country– already slowing economy. As
Winsor condemns Boko Haram for its actions, she displays the victims of Boko Haram –scared
young girls unable to go to school– while emphasizing the severity of the crisis in Nigeria and on its
economy as communities rebuild their lives after the devastation. In her article, Winsor ... Show
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Despite Nigeria's growing economy, the nation still has a startling percentage of citizens living in
poverty. For children, the choice became easy: to survive and support their family or to get
educated. Boko Haram's radical ideals of religion's role in society, conformed gender roles, and
tradition have not only destroyed families and communities but they continually add fuel to the fire
– destroying the newest generation's only chance at a better life. The jihadist group has an infamous
reputation not only to burn down schools and villages but to kidnap school children, especially girls,
and educators. The most notorious event in Boko Haram's cruel initiative against Western Education
was when it captured 276 school girls, 60 of whom managed to escape now fear to return back to
school as alike with many girls who have been directly affected by the group. Boko Haram, through
its violence, aims to control the northeast through crippling fear and wants to clearly establish a
message: it will stop at nothing to see western education abolished. Boko Haram's effects when it
declared insurgency six years ago on education is evident in Nigeria's current economic status.
Africa's largest economy has already taken a blow from the consistent destruction of multiple
schools and communities. "Education is the foundation of a society; without it, development is

Impact Of Oil Spills On The Economy Of Northern Nigeria
Abstract
Over the years cases have been heard of destruction of the fertile area of Niger delta due to oil spills.
The most affected area is in Nigeria where reports state that there have been more than 400 tons
spills. The major reason given behind the spills is due to human mistakes. In a report provided by
the national oil spills detection in Nigeria indicated that there were more than 1200 oil spill sites that
had been left out by the oil companies by the year 2008 along the Niger delta. Even though the
Niger delta from a front view shows the pace to good looking due to the green pastures found in the
area, but in detailed review there have been severe damage inside the area since the fish that could
be surviving have already died, ... Show more content on Helpwriting.net ...
15
2.3.1 Bioremediation approach. 16
2.3.2 Chemical and biological methods. 16
2.3.3 Physical methods. 16
Conclusion. 16
Chapter 3. 17
3.1 Methodology. 17
3.2 Tools for data collection. 18
3.3. Research Philosophy. 18
3.3.1 Epistemological and Ontological Assumption. 18
3.3.2 Phenomenology and Positivism.. 19
3.3.3. Qualitative and Quantitative Research. 19
3.4 interviews and research questions. 19

3.5The role of the research. 20
3.6Research period. 20
3.7 Ethics and Analysis. 21
3.8 Research Limitations. 21
Chapter 1
1.1 Introduction
Niger Delta is Located in Southeast of Nigeria and has a history of being one of the most fertile land
in Northern Nigeria. There is subsistence farming and fishing in this region that is mainly done by
the natives of this place, and is inhibited by 3000 communities that have settled there for a long time
doing farming as their major economic activities (Ikelegbe, 2013). The estimated population at the
Niger Delta is 27 million people, of this population, 75% of the population relies upon agricultural
activities for living. However, the water, air, forest and soil resources have been devastated because
of the exploration of gas and oil resources. The key issue and problem associated with the oil
recourse exploration is oil spills and gas flares.
The local

Nigeri The Western Coast Of Africa
Nigeria is located on the western coast of Africa, surrounded by Benin, Cameroon, and Niger. This
country is known to have one of the largest populations among the African countries. Falola (3) says
that not only it has large population, but also its land size is a little bigger than the size of the U.S.
state of Texas. Nigeria has about 170 million residences which is about half of current population in
United States. In other words, Nigeria has a very dense population regarding its size of land. Within
170 million people, there are twelve dominant ethnic groups, such as Yoruba, Hausa, Igbo, Fulani
and etc., and about 200 more distinct ethnic groups are present. Therefore, hundreds of different
languages are also used in Nigeria. Lastly, ... Show more content on Helpwriting.net ...
Cultivation of root crops is practiced by the central part of Nigeria, while cultivation of cereal crops
are practiced in Northern savannah region (Gordon, 2003).
Furthermore, Nigeria, at first, was involved in the slave trade for mutual beneficial interaction. But
as time went by, the mutual beneficial interaction changed to one–sided trade; it only benefited the
several societies with wealth and power, but destroyed the other groups of society. But later in
1800s, the slave trade was abolished (Gordon 2003). According to Graham, in 1884 British
colonized Nigeria officially at the Berlin Conference. British used force and violence to control
Nigeria. Although there were riots by Nigerians, all of them were suppressed (Graham 2009).
Meanwhile, British practiced in indirect rule of Nigeria; British colonization changed many aspects
of Nigeria including language, education, religion, economy, transportation, and etc. So this Legacy
paper will discuss about the legacy of Nigeria on religion, economy, and demographic followed by
British Colonization.
Nigeria has two major religions, which are Islam and Christianity. Fifty percent of populations
believe in Islam, forty percent of populations believe in Christianity. Christianity is one of the
legacies that British had left. Gordon said that religion was one of the ways for Nigerians used to
resolve political, economic, and social

The Country Of Ghana And Nigeria Essay
What is surprising by most is how Africa is one of the largest known continents and being one of the
richest when it comes to natural resources. However, the countries that make up Africa and the
people living in these countries are known to be living in devastating poverty. How can it be that
this plentiful continent of natural resources, Africa's people are living in poverty and living in the
poorest conditions? With Africa being such a rich continent of natural resources why are the
countries within Africa so poor? Take for instance, the countries Ghana and Nigeria There are many
countries within Africa but the main focus will be on the country of Ghana and the country of
Nigeria. Both countries are poor and the people there are in poverty. Ghana has been struggling with
poverty and being poor for quite some time and has been slowly trying to work its way out of
poverty. In an article called "Microenterprise financing preference" There have been some laws now
put in place to try and reverse the poverty and help Ghana. (Osei‐Assibey, E., Bokpin, G. A., &
Twerefou, D. K., 2012). Nigeria has also been quit poor for some time and the people struggling
with poverty. Africa has been and is one of the richest continents when it comes to their natural
resources. The countries within it are some of the poorest. From the report of the African
development report 2007: Natural resources for sustainable development in Africa it said one of the
biggest reasons that Africa is so rich

E-Banking in Developing Economy: Empirical Evidence from...
Applications of Quantitative Methods to e–Commerce E–BANKING IN DEVELOPING
ECONOMY: EMPIRICAL EVIDENCE FROM NIGERIA Elisha Menson AUTA PhD Candidate,
Centre for Policy and Economic Research, University of Abuja, Abuja, Nigeria E–mail:
donelly2007@yahoo.com Abstract: This paper empirically examines the impact of e–banking in
Nigeria's economy using Kaiser–Meyar–Olkin (KMO) approach and Barlett's Test of Sphericity
which support the use of factor analysis in order to extract independent variables associated with e–
banking. The paper explores the major factors responsible for internet banking based on
respondents' perception on various e–banking applications. It also provides a framework of the
factors which are taken to assess the ... Show more content on Helpwriting.net ...
E–banking is the term used for new age banking system. E–banking is also called online banking
and it is an outgrowth of PC banking. E–banking uses the internet as the delivery channel by which
to conduct banking activity, for example, transferring funds, paying bills, viewing checking and
savings account balances, paying mortgages and purchasing financial instruments and certificates of
deposits (Mohammed, et. a.l, 2009). It is difficult to infer whether the internet tool has been applied
for convenience of bankers or for the customers' convenience. But ultimately it contributes in
increasing the efficiency of the banking operation as well providing more convenience to customers.
Without even interacting with the bankers, customers transact from one corner of the country to
another corner. Electronic banking has experienced explosive growth and has transformed
traditional practices in banking (Gonzalez, 2008). As per prediction of Maholtra and Singh, (2007)
the e– banking is leading to a paradigm shift in marketing practices resulting in high performance in
the banking industry. Delivery of service in banking can be provided efficiently only when the
background operations are efficient. An efficient background operation can be conducted only when
it is integrated by an electronic system. The components like

Nigeria during the Independence Era to the Present Time
Introduction
"This essay will be written on Nigeria during the independence era to the present time of the
country. What will be discussed about Nigeria is how they achieved their development, how they are
now currently the African continent's top economy. "The discussion that will be in this essay is the
theories used after Independence in Nigeria to obtain development. Nigeria is also known for the
country's population growth; population growth has its advantage which has a positive impact on the
country's economic growth as it causes demand for products and also leads to an upsurge in human a
country which is why Nigeria today is leading with their economic growth." "Nigeria is a country
endowed with human, agricultural, petroleum, gas and large untapped mineral resources" Nigeria
was once a colonialized country, they managed to obtain their Independence. According to
(Babs,1977) Nigeria is mostly likely referred as the "Giant of Africa" because of its population, the
country is also culturally diverse and has a large economic growth in Africa." Nigeria has relatively
advanced power, road, rail and ICT networks that cover the national territory quite extensively,
Nigeria has a good progress in their infrastructure and sanitation"
Pre–colonial Phase
"Traditional leaders in the pre–colonial era were the Centre of governance and it passed out within
the border work of societies, empires and kingdom. The traditional organization did not just achieve
a part of conflict

The Impact of Multinational Enterprise (Mne) on the...
Over the years, Multinational enterprise have matured and developed into large companies that they
are now part of our everyday lives. Form the use of mobile phones to the cars, personal computers
and their software and even the beverage we drink, most of these products are supplied by
Multinational companies. Their existence has great impact on our lives. In the world today,
Multinational enterprises are powerful companies and they own resources in excess that most host
countries possess. These companies are so powerful that they turn out to be power centers that can
manipulate the host countries and even international organizations and at times the affairs in its
home country. The setup of Multinational enterprise can take different ... Show more content on
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funds, land, labour, equipment and technology (Shenkar & Luo, 2008). This mode of entry is one of
the most common and complex strategy. One of the forms of FDI includes ownership of operations.
It could be either partial ownership or wholly ownership. Partially owned operations include
Greenfield investment and wholly owned operations include partial acquisition and joint venture.
FDI creates a long term relationship between both investing company and host country. One
advantage of foreign direct investment is it allows the company to maintain the daily management
of production creating more opportunities in the foreign market. Nestle Nigerian Plc enjoyed the
privilege of been one of the first company to invest in the beverage sector in Nigeria giving them a
firm ground in the local market. It should be noted that FDI is a common entry mode for most MNE
with vast experience in international business. Other entry modes are exporting, joint venture,
franchising and licensing. Analyze competitiveness. Competitiveness is the force needed to win
when in competition with other competitors in the same business. Country competitiveness can be
defined as the amount of riches a country is able to generate more than its competitors. It can also be
said to be the major determinant of the standard of living for a country and also the main its source
of income. Productivity is also

Imperialism In Nigeria
The Federal Republic of Nigeria, more commonly known as Nigeria is located in West Africa, in the
west it borders Benin, in the east it borders Chad and Cameroon, and Niger in the north. It's coast is
located on the gulf of Guinea in the Atlantic Ocean. Its capital city is Abuja. It is home to over 250
different ethnic groups. The main religions practiced are Islam, and Christianity. (Commisceo
Global Consultancy ) There are over 500 different languages, but the main language spoken is
English. Nigeria is Africa's most populous country, and it's the 9th most populous country in the
world, with an estimated 150 million people. Lately the country has had a huge amount of explosive
population growth due to its high fertility rate. It ... Show more content on Helpwriting.net ...
He was born on March 5th, 1937 in Abeokuta, south–west Nigeria. In 1958, he join the Nigerian
army. He served in the army for 21 years, his service included serving in the UN peacekeeping
mission, and commanding the 3rd Marine Commando Division during Nigeria's 30–month Biafran
civil war (1967–1970). In 1976, he became military head of state after the assassination of his
predecessor General Murtala Muhammad. (Obansajo Biography) He remained the military leader of
Nigeria until 1979. In 1988 he founded the African Leadership forum. In 1995, he was imprisoned
for plotting a coup to overthrow military leader General Sani Abacha. He was sentenced to life in
prison, after pressure from other world leaders his sentence was reduced to 15 years in prison. He
was released after Abacha's sudden death in 1998, after serving only 3 years. On May 29 1999,
Obasanjo took office as Nigeria's first civilian head of state of Nigeria after 16 years of military rule,
his term lasted from 1999 until 2007. (Olusegun Obasanjo – News, Biography of Former

The Business Environment Of Nigeria And Norway Essay
Question 1The concept of Business EnvironmentBusiness environment can be understood as the
combination of all environmental conditions and influences that are capable of affecting or
influencing business activities. According to Anyanwu et al (1996) defines the environment of
business as the aggregation of the pattern of all the external and internal conditions and influences
that affect the existence, growth and development of the business. Opportunities and threats may be
associated with external environment while the strengths and weakness may be associated with
internal environment of the business (Audu, 2010a).In this paper, we will compare the business
environment of two countries namely: Nigeria and Norway. The reason for choosing these two
countries include the fact that both are part of the top ten net oil–exporting nations for which
hydrocarbon exports account for more than 40% of total exports. We will compare and contrast the
fiscal policy of both countries and the business environment.Overview of Nigeria and NorwayLet
give a quick fact summary of these two countries:NigeriaNorwayPopulation169.3 million5.1
millionGDP (PPP)$479.3 billion$280.0 billion6.3% growth0.8% growth7.0% 5–year compound
annual growth0.8% 5–year compound annual growth$2,831 per capita$54,947 per
capitaUnemployment7.5%3.5%Inflation (CPI)8.5%2.1%FDI Inflow$5.6 billion$9.3 billionBusiness
Freedom48.392.1Labor Freedom77.748.2Monetary Freedom70.481.7Government
Spending76.143.8Fiscal

Chile, Indonesia, And Turkey
Mint countries refer to Mexico, Indonesia, Nigeria and Turkey, which are economies that are
gaining considerable investment interest given their potential for substantial economic growth. The
features which these countries share are a fairly large population, which is considered to be young
and growing and in addition a prime geographic location to capitalise upon nearby global markets.
These features are distinctive against the developed markets and certain BRIC economies which are
considered to have an ageing population which is drawing away from their growth potential.
According to GDP figures, based on PPP valuation, the growth rates for the MINT economies across
2013 and 2014 have averaged at 5.70%. This is significant given that over the same time horizon the
BRIC economies, considered the pinnacle of emerging market growth, experienced a rate of 3.39%.
This was relatively lower in comparison eluding towards a shift in the investment potential from
BRIC towards Mint Economies. In addition it is worth considering that emerging economies having
been attracting increasingly more Foreign Direct Investment (FDI) having accounted for 52% of
global FDI inflows according to recent data. Looking closer at the FDI spread based on regional
allocation it is worth noting that Nigeria received the greatest proportion of FDI in Africa, Indonesia
in South–Eastern Asia, Mexico in Central America and Turkey in West Asia. This demonstrates the
investment potential within the MINT

Impact Of Economic Liberalisation On Livelihoods
The Impact Of Economic Liberalisation On Livelihoods In Nigeria
Economic liberalization on livelihoods in Nigeria refers to how the decrease in government control,
through deregulation and lesser restrictions in the economy to promote greater participation of
private entities, serves as a means of securing the basic necessities of life i.e. food, water, shelter and
clothing. This is done in an effort to encourage economic development through the doctrine is
associated with classical liberalism. Following in the pattern of major economic reforms of
emerging markets such as Brazil, China and India, Nigeria has followed the same path of economic
liberalisation to ameliorate itself in the global competition, in order to achieve a higher standard of
living.
In Nigeria, economic liberalization through deregulation and privatization, has been implemented
for various reasons, such as the demand for efficient and effective Public Enterprises, reduction in
external borrowing, stronger capital markets, and improve accountability, but most important of all,
for generation of employment and sustainable livelihoods for the betterment of Nigerian welfare
(World Bank, 2013).
SAP and NEEDS.
Economic reform through liberalization was first introduced in Nigeria in 1986 through the IMF's
Structural Adjustment Programme (SAP), which was introduced to many sub Saharan African
countries as a result of the economic downturn of the 1980s. This liberalization programme resulted
in many government

Marketing Nigeri Nigeria 's Largest Economy
De'Angelo Collington
Dr. Bunger
WC 370 SSA
1/24/17
Marketing Nigeria In April 2014 statistical "rebasing" exercise, Nigeria has emerged as Africa 's
largest economy, with 2015 GDP estimated at $1.1 trillion. Oil has been a dominant source of
income and government revenues since the 1970s. Following the 2008–9 global financial crises, the
banking sector was effectively recapitalized and regulation enhanced. Nigeria's economic growth
over the last five years has been driven by growth in agriculture, telecommunications, and services.
In this paper I will be trying to marketing some of things in Nigeria that might have people
interested in getting their hands on or even coming to Nigeria to see. For instance I will give you
why some people ... Show more content on Helpwriting.net ...
Although production figures dropped in the eighties due to economic slump, 2004 saw a total
rejuvenation of oil production to a record level of 2.5 million barrels per day. Current development
strategies are aimed at increasing production to 4million barrels per day by the year 2010. The gross
domestic profit (GDP) is going up every year 2013 was 1 trillion, in 2014 it was 1.063 trillion, and
in 2015 it was 1.092." So every year it is going up and up so for anyone you can see that you would
be able to make money in the oil business in Nigeria if you or anyone else for that matter could get
your hands in on some of that deal you could be making a lot of money. In my option this is not a
high risk because the oil figures are not going down at all so the money you would put in you would
defiantly get back in the long run. There are many attractions in Nigeria but I'm going to give you
about two or three of them. The number one attraction in Nigeria is the Nike Art Center. The Nike
Art Center is an art gallery in Lagos owned by Nike Davies–Okundaye. The gallery is arguably the
largest of its kind in West Africa. Housed in a five–story's tall building, it boasts a collection of
about 8,000 diverse artworks from various Nigerian artists. A little more about the center Nike is the
Managing Director/CEO of Nike Center for Art and Culture, Osogbo where trainings are offered
free of charge to all Nigerians in various forms

Nigeria 's Economic And Economic Development Essay
Nigeria has a population of around 180 million, making it the most populous country in Africa.
Nigeria is located in a region with tropical climate and that can grow variety of crops. With their
numerous resources and growing technology they have been able to have positive economic
advancement. Nigeria has had improvements in five of the ten economic freedoms. This includes
Freedom of corruption, labor freedom, and management of government spending ("Nigeria."
Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption.). Nevertheless these large
improvements in their economy has not brought human development, where most Nigerians live
under the poverty line. This paper will focus on why Nigeria has not been able to use their economic
prosperity in the sector of human development, this includes standard of living, health, safety, and
basic necessity one needs to live a stable life. We will compare it to the state of Ghana whose
economy has also flourished but has been success in human development.
Many argue that poverty is inevitable in many states of Africa because of their colonial history but
nevertheless we have states like Ghana who has been able to flourish despite its surrounding
problems and colonial history. In order to figure out why Nigeria has failed to have human
development, we will focus on the type of economy is has, diversity and religion tension, population
and government institutions, and finally human right violations that have occurred

Effects Of Colonization In Nigeria
What happened in the country during colonization?
The British empire began invading Nigeria, by creating conflicts between diverse ethnic groups to
intentionally break down the group into insignificant clusters that had little, or no impact on the
country's legislative branch. The implemented strategy is known as the divide and rule policy, which
assisted to prevent any united opposition against Britain. Later, the British government gained
control over the Royal Niger Company's territories and eventually, Northern Nigeria was under the
Britain protectorate. By 1901, Nigeria was completely under the British power which accompanied
many changes to the country. Education, language, and religion were assimilated to fit the desires of
the British empire. English became one of the major languages in the country and Christianity
spread rapidly; although some Islamic scholars resisted the religion. During the colonization of
Nigeria, a new monetary and transportation system was developed and two tiers of government
evolved; central and local. The new monetary system consisted of coins and notes rather than
trading goods, and the local Nigerians were instructed to build a railway across the country which
made the transportation of raw materials more efficient and cheaper. The Central government was in
authority of governor–general, and local government was based on the policy directed by the
colonies to ensure that indigenous leaders were educated on the new policies, that were

The Crisis Of The Nigerian Economy
PROBLEM STATEMENT:
Economy of many nations is currently at distress due to current plunge of oil price the international
market. This sink in crude oil price produces an economic shock especially to the poor and
developing Countries that depend on crude oil revenues to balance their budgets (Iwayemi, &
Fowowe, 2011; also see Effiong, 2014). Nigeria, being one of those nations, is currently
experiencing economic crisis. For instance, many states in the federation presently can no longer
pay their employees' salaries or provide basic services to their citizens. They are borrowing money
or requesting for bailout from the Federal government to fulfill their obligations to their people. The
shocking effects of this oil price drop extended ... Show more content on Helpwriting.net ...
Also, over dependent on crude oil revenues to balance the budget, lack of diversification of
economy, and mismanagement of the revenues from crude oil sales. Others issues include oil thefts,
pipeline vandalization, dwindling of oil revenue in the country contributed to the problem. For
example, Shuaibu, & Mohammed, (2014), point out that, "over–reliance on crude oil for over 90
percent of Nigeria 's foreign exchange earnings makes its external account susceptible to
international crude oil price fluctuations". The large amount of proceeds earned from oil boom years
were not properly utilized for meaningful and sustainable development, as such, poverty continued
to be in the rise and people remain deprived of efficient energy services and sustainable livelihoods.
The crude oil glut therefore induced huge dislocation in the economy, joined with gross
mismanagement of resources and resulted into borrowing leading to increase in external debt.
Abam, et al (2014) agreed that the high proceeds obtained from crude oil export in all the boom
years brought about an unsustainable spending profile, which led to economic catastrophe when
global petroleum prices crashed in 1986 and other subsequent years (Nigeria–Economy 2005;
Suleiman, 2010). Some experts believed that Nigerian current woes are caused by resource curse or
Dutch disease, while others argued that problem is caused by

Assessment Of Shell 's Corporate Social Responsibility
Topic: Assessment of shell's corporate social responsibility in the Niger Delta Region of Nigeria
Executive Summary
Oil for over a decade has been the main source of income for the Nigerian economy. It accounts for
more than 70% of export.The Niger Delta region of Nigeria has been plagued with different
negative effects of oil exploration. The environment, economy and even quality of human life have
been greatly affected. This has created a lack of trust between the inhabitants and the oil companies,
and even with the Nigerian government.
Corporate Social responsibility (CSR) has been viewed in different ways by different school of
thoughts; some see it has a voluntary initiative, while others think it's a main part of every
company's structure and even an opportunity to improve brand. For this work, we would take the
position of the later argument. It is simply giving back to the environment that you gain from. It
involves protection of the environment, development of quality of the occupants of the environment
and improving their quality of life. Like Barnard (1938), it is analyzing the social, economic, moral,
legal and physical aspects of the environment.
This project seeks to objectively analyze the activities of oil companies in this region. Shell, a major
player in the oil industry of Nigeria received the spotlight. An extensive analysis of their CSR was
done. This was achieved by comparing with different standards; notably the ISO26000. A review of
the Nigerian

Why Do We Use Biafrans In Nigeria?
How can somebody who sucks her mother's breast will ask why do you need Biafra? Everybody
knows this very historical fact that Nigeria preside on the memory of over four million Biafrans who
died on genocide under the banner of Biafra and they are doing nothing about it after 45 years. We
all are aware that Nigeria unleashes harsh economic measures that have caused so much
unsustainable daily living and self–reliance in Biafra land that today over 15 million Biafrans are in
diaspora. We do understand the systematic killing of Biafran youths in the Nigerian Army and
prisons. The rampant killing of Biafrans by Almajiri in the North in the name of religious
differences means absolute rejection. What if Boko Haram is killing our people on a daily basis? ...
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Some Nigerians believe they will never employ Igbo speaking Biafrans instead is better to employ a
foreigner because they are intelligent, vibrant and industrious. Then why not employ them to build a
fruitful economy and they say no. It means hate and uncivilized manner to hurt others. They haras
and intimidate us in our religious faith even in the government. It worrying because Biafrans
contribute to the economy more than any other ethnic groups in Nigeria. Why in no time Northern
Nigerians value the lives of Biafrans no matter our contributions to the development of Nigeria? We
seriously experience this ugly act since 1943 and even till now. Yesterday Nigerian Naval officers
gun down unarmed innocent Biafrans who were doing a peaceful demonstration in the streets of
Biafraland and many were injured. According to the United Nations declaration on the rights of the
indigenous peoples and even in the Nigerian constitution Biafrans have the right to agitate for the
freedom of Biafra. So Nigerian Navy must be questioned what prompted them to shot on the
innocent people. What is the reality of living and sense of unity or belonging in Nigeria? If you ask
that nonsense question again, it means you are a

An Apprasal of the Activities of Nafdac in Nigeria Economy
ROLE OF NAFDAC IN AIRFREIGHTING IN NIGERIA
PRESENTED BY
PROFESSOR DORA N. AKUNYILI (OFR) DIRECTOR–GENERAL (NAFDAC)
AT
A ONE–DAY SEMINAR ON OPTIMISING OPPORTUNITIES FOR AIRFREIGHT IN NIGERIA
ORGANISED BY NIGERIAN SHIPPERS' COUNCIL
24TH AUGUST 2006
INTRODUCTION: It gives me great pleasure to be invited to present a paper at this one day
sensitization seminar with Theme Optimizing opportunities in the Airfreight industry, organized by
the Nigerian Shippers Council for importers/exporters, operators regulators and other stakeholders
in the Airfreight sector as part of its continuous effort to educate and sensitize shippers on useful
procedures in international trade and movement of goods. The aviation industry is a vital sector in
any ... Show more content on Helpwriting.net ...
GOAL OF NAFAC Our current goal is to eradicate fake drugs and other substandard regulated
products. NAFDAC PRE 2001: Although NAFDAC commenced operation as an Agency in 1994.
Her regulatory impact was not felt much by Nigerians. This can be attributed to the following
reasons:
A failed regulatory process for over two decades. All sorts of drug, food and allied product were
imported into country from all part of the world with little or no restriction. Serious monitoring in
the real sense of it was virtually nonexistent. Nigeria was rated as one of the countries with the
highest incidence of fake & counterfeit drug and other substandard regulated products.
Consequently made in Nigeria drugs were officially unaccepted in other West African countries with
strong regulations e.g. Ghana, Serria Leone etc. Many multinational drug companies left Nigeria in
the 80 s and 90 s out of frustration e.g. Boehringer, ICI, Merck, Sandoz etc. Illegal drug markets
resulting in chaotic drug distribution channels, where drugs are marketed like any other commodity
of trade. Even commercial buses became veritable means of drug trade. There was no statistics on
the level of incidence of fake drugs in Nigeria. The confusion and madness were not just limited to
drugs. We had the following and many others: i. Toothpastes without or with insufficient

The Millennium Development Goals
One of the Millennium Development Goals (MDGs) was the focus on finding ways to eradicate
poverty and hunger especially in under–developed and developing economies. However, the
banking crisis and very recently the slump in oil prices have brought a new twist; as developed
economies began to struggle with poverty and of weak economy due to a large portfolio of debt as
seen in some EU countries. Fifteen years later, the MDG goals is far from being actualised as under–
developed countries are still under–developed and developing countries are developing at different
rates with the likes of Malaysia and especially Brazil making bigger strides.
According to a survey on the Brazil economy, Haner (2011) showed that a major contribution to the
growth of the Brazilian economy is due to the impact of the small and medium scale enterprises
(SMEs). It is estimated that the SMEs account for 20% of the Gross domestic product (GDP) and
54% of total formal employment in the country (Office of Evaluation and Oversight [OVE] 2014).
SMEs also play an important role in the economic development in Malaysia accounting for 33% of
GDP, 58% of employment and 19% of export (Hashim 2015). There is a higher survival rate of
SMEs in Malaysia with 97.3% of business establishments recognised as SMEs (Khalique 2011; Lim
& Xavier 2015).
The above examples highlights the importance of SMEs in helping a developing country move in
the right direction. The research proposal is focussed on how Nigeria–a

Wto And Its Influence On Trade
NNEOMA NWOBILOR
ECON 430 001
THE WTO AND ITS INFLUENCE ON TRADE IN DEVELOPING COUNTRIES
The World Trade Organization implements and facilitates trade between countries. Their aim is to
help countries especially developing countries in boosting their trade between countries. They also
help in creating agreements between countries that help to encourage trade and make trade easier.
They help in settling disputes or problems between member countries anytime it develops. I chose
this topic because I wanted to find out the different ways that the WTO has influenced trade
especially in emerging developing countries. The WTO has influenced the trade policies and
decisions of their member countries, most especially developing countries.
I believe ... Show more content on Helpwriting.net ...
According to an article called Developing Countries and the WTO which was edited by Gary P.
Sampson and W. Bradnee Chambers, they talk about the WTO, its aim and their main functions.
They start by saying that "The goal of a world trading system centered on the World Trade
Organization (WTO) is for multilaterally agreed law, coupled with the progressive liberalization of
trade, to the basis for international trade relations" (Sampson, Chambers). This basically sums up the
aim of the WTO, they are in charge of creating free and fair trade and making sure that each and
every country is being treated well, both those countries that are big in the trade market and those
that are small, there is also no discrimination and each and every rule and regulation created is
accepted by all the members of the WTO. One of the problems that have been encountered is the
high tariffs that are being put on goods that are imported from other countries. The article mentions
that "because of high tariffs on many products, a compromise agreement with the exclusions sought
for "sensitive" and "special" farm products would significantly decrease the gains from reform"
(Sampson, Chambers). The article also talks about how the four African countries namely, Chad,
Benin, Burkina Faso and Mali use cotton as their main means of export, the importance of this trade
and also how the market price for cotton is reducing and this might become a problem for

The Giant Bomu Oil Field Essay
The giant Bomu oil field in Ogoni located in Gokana Local Government Area, which has estimated
ultimate recovery of 0.311 billion of barrels of oil and a total of 0.608 billion of barrels of oil
equivalent including gas, was discovered in 1958 (Aniefiok et al 2013, Amanyie 2006, and Vassilion
2009). According to Amanyie (2005; 2006), in the late 1950s oil was struck in commercial quantity
at Lekuma Khana in Ogoni soil, and in Bomu oil field in 1958. In 1962 and 1963, the Korokoro and
Ebubu fields were respectively discovered and by 1964, the oil refinery at Elesa ELeme went in to
full production Amanyie (2005; 2006) explained. The Yorla oil field and the Bodo West oil field
were discovered in 1960 and 1970 respectively. According to Sule (2000), there are five major oil
fields in the Ogoni area with 96 oil wells linked up to five flow stations in Bomu, Korokoro, Yorla,
Bodo West, and Ebubu. These fields have a current production potential of 28000 barrels per day
which is about 3% of Shell PDC's crude production
The petroleum sector began to add significant role and shape to the Nigerian economy and the
political arena and destiny of the country in the early 1060s. However, when Nigeria became an
independent nation in 1st October 1960, Shell – BP began to give out its acreage and its exploration
licenses were converted in to prospecting licenses that allowed development and production (
Bamberg, 2000; Vassilion, 2009). Following the increase dominance of the Nigerian

Advantages And Disadvantages Of Foreign Investment In Nigeria
Foreign investment capital, both in cash and in kind (e.g. by way of machinery and equipment,
technical expertise and services), play vital role in the development of Nigeria (Agosin, 2000).
Nigeria has an extreme shortage of long–term debt capital, as well as equity funds. Other financial
instruments that could support private sector development, such as leasing, are underdeveloped
(CBN, 1992). In a continent where finance is a major constraint on development, the private sector
in Nigeria, in particular, the small and medium enterprises (SMEs) suffer many disadvantages
including but not restricted to high interest rates, loan terms of rarely more than one year, absence of
equity capital, and stringent collateral requirements. These problems are further exacerbated by
land–titling problems. Nigeria's desperate situation stands out even ... Show more content on
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The solid minerals in Nigeria range from precious stones to the various industrial minerals for a
wide range of industries as construction, pharmaceuticals, food processing, and other forms of
manufacturing. Despite the huge resource base of the country, Nigeria has not been able to achieve a
high level of economic growth, nor has it been able to attract a high level of private sector
investment commensurate with its economic potentials (Anyanwu, 1998). In the assessment of the
Nigerian investment environment, the following factors have been identified as the major obstacles
to economic growth and the flow of private sector investment to the country– 1. Dependence on the
oil sector, which accounts for 95% of foreign currency income and 80% of the national budget, 2.
National budget deficit and foreign debt caused by free–spending economic policies under past
military junta regimes, 3. Inadequate

Nigerian Economy: Macroeconomic Analysis
sisNigeria – Country Report
2012
61310039
Indian School of Business
7/6/2012
Contents Economic Overview 3 Gross Domestic Product (GDP) 3 GDP Composition 4 Inflation 4
Shadow Economy 5 Trade Overview 5 Foreign Debt 7 Labor Market & Human Capital 7
Population and Income Inequality 8 Unemployment 9 Currency 10 Money Supply and Monetary
Control 10 Fiscal policy 12 Exchange rates 12 Interest Rates 13 Foreign Direct Investment 14
Globalization and Comparative Advantage 14 Conclusion 15 References 16
Economic Overview
Nigeria's economy is estimated to be worth about $262bn, making it one of the largest economies in
Africa. The estimates and analysis of various indicators is discussed in the ... Show more content on
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It is expected moderate only in 2014 as a result of moderation in commodity prices.
The April 2012 inflation data as obtained shows a Month–on–month inflation to be (0.13%), Year–
on–Year (12.9%), 12–Month Avg. Chg. (11.1%). The inflation rate is exceedingly high and is
detrimental towards investment in the country. The Consumer Price Index and Nigerian Inflation
rate is shown below.
Source: Economic Intelligence Unit
Shadow Economy
The untaxed and unregulated revenues – by some estimates – account for between 40% and 45% of
gross domestic product (GDP). Nigerians make most of their living, as street hawkers, minibus
drivers, money changers or market traders. In spite of the abysmal performance of the country's
economy, poor infrastructure and unfriendly business environment Nigeria has huge potentials to be
tapped because of its huge deposits of Natural Resources and population that can be gainfully
employed.
The black economy accounts for a large part of the Nigerian economy.

Trade Overview
Nigeria has considerable natural resources such as oils, and the revenue from oil exports forms a
major chunk of the Government fund. Nigeria has recently started a sovereign wealth fund and the
excess returns from oil exports viz–a–viz projected returns is directed to this sovereign fund. This
fund is building up at a slower pace as the revenue is being directed towards meeting government
excess spending to meet the countries capital

Small Business in Nigeria
Table of Contents
Introduction–––––––––––––––––––––––––––––––––––––––––– 1
Constraint in small business : 1) Exchange rate–––––––––––––––––––––––––––––––––––2 2)
Access to loan –––––––––––––––––––––––––––––––2 – 3 3) Infrastructure
––––––––––––––––––––––––––––––––3 – 4 4) Technology
––––––––––––––––––––––––––––––––––4 – 5 5) Taxation
–––––––––––––––––––––––––––––––––––––––––6 6) Regulation
––––––––––––––––––––––––––––––––––––––7 7)
Policy–––––––––––––––––––––––––––––––––––––––––––––8
Conclusion–––––––––––––––––––––––––––––––––––––––––––9
Recommendation––––––––––––––––––––––––––––––––––9
Reference list–––––––––––––––––––––––––––––––––––10 – 12
Introduction
Nigeria is a country with 923,768 sq km ( 356,700 sq miles ... Show more content on
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Then, their business profit needs to be share to government and they only get 67.8 percent of profit.
For example, if a business earns 10000 Nigerian naire then 3220 Nigerian naire need to give
government for the tax. They only get 6780 nigerian naire and it will limit the expand of business as
yearly profit frequently be the main resource of capital to grow the firm. So the high tax rate will
make the entrepreneur have less money to increase the capital in business. (Mitchell, and Fellow
1993,6 )
( Source : Paying Taxes in Nigeria, n.d )
6
Regulation
Nigeria has a high cost on register a legal licence for a standardized company and takes lot of times.
It takes around 31 day around 1 month to start up a new business but in US it only takes 6 day. It
need 89903 Nigerian naira plus 7.5 percent stamp duty paid on capital to get a new business licences
but in US it only need 325 US dollar. Without operating the business, small business already had to
use around 89903 Nigerian naira by getting the new licences.
Sources : Starting a Business in the United States. n. d

Sources : Starting a Business in Nigeria. n. d
7
Policies
Abugu( 2007 ) has found that the government in Nigeria is lack of commitment at every level in
order to develop small business sector. But there are certain of the policies or laws that only can
carry out by government. In Nigeria, the government has

The Boko Haram Group On The Nigerian Economy
1.0 INTRODUCTION
In recent times, Nigeria has attracted significant global attention as a result of the on going Boko
Haram terrorism actions. With Nigeria being one of the most populous country in West Africa there
is bound to be religious and political tensions which in turn breeds political violence. The Boko
Haram group is the first insurgent group in Nigeria to be classified as a terrorist organisation by the
United States of America and it Allies (Akpan, F et al: 2014). From their radical emergence in 2009
up till date, the country has suffered vulnerability to terror, criminality and instability, starting in
2010 with a retaliation attack for the death of their leader Mohammed Yusuf. The sect further
intensified their activities in 2011 with the bombing of the Police headquarters in Abuja the capital
city and the UN headquarters also in Abuja. All these attacks left a lot dead and a whole lot more of
people injured and displaced. This dissertation investigates the effects of the Boko haram group on
the Nigerian economy and how this in turn has brought about a domino effect of instability in the
country. In this study, the use of mainly library research shall be used to trace the sequence of Boko
Haram crisis faced by the State.
What exactly is terrorism? This word has been so incorporated into our daily lives, with the media
every day reporting on act of "terrorism" or the other. Terrorism is often labelled as acts of violence
that is against the society,

Oil Industry And Its Effects On The Economy
On the other hand, A–sources inform about the Nigerian and the suffering they are going through
because of the oil production. "The rapid expansion of the oil sector has stymied the development of
other parts of the economy." (Hill 88) Nigerian people who survived on agriculture economy were
affected the most because of the oil pollution. Extracting oil hurts the environment a lot by creating
pollution in the soil and waters due to oil spills. Therefore, agriculture decreased and many people
were left without harvest to sell and others lost their job in the cultivating industry. Many Nigerians
were left unemployed due to the decrease of agricultural economy and the small amount of jobs
offered in the oil industry. Many were left to find ... Show more content on Helpwriting.net ...
The answer to the question can only be solved through the articles and the background research.
In the articles one can spot from the information given and the opinion of the people are all
supporters of the oil industry. In the article written by William Wallis, the title shows the audience
the reporter is calling. "Nigeria: The big oil fix" goes into detail how the oil industry is in need of
fixing. The audience who just reads the article will agree with the data provided because it gives
details about fraud and corruption. In the article, the president states his main concern, which is
"fixing the company that manages the lifeblood of the economy – oil" which could make or break
his presidency. Through this statement one can see how Nigeria is dependent on oil. Unfortunately,
this article does not talk about the corruption that affects the people as well as the background
information about the oil industry.
An example of how the oil production is the cause of Nigeria's state is doing the opposite of helping
the country is seen through the A–source in the Review of African Political Economy. In this book,
there is a section where it specifically gives information about the Ogoni and how the oil production
affected them. Even though Ogoniland has made billions of dollars in oil

Impact Of Globalization In Nigeria
The term globalization gets mixed in conversation without even slipping our brains what it is. But
what is it? Globalization is the thought of corporations transferring employment overseas to those
who will work for less. However, globalization can be expressed even wider, which incorporates
numerous influences. With that being said, the most fitting meaning would be that globalization is
the collapse of barriers among countries permitting labor, goods, and services to be freely
exchanged. Consequently, one feature that appears to be debatable is the how globalization has
moved the prosperity of others. For instance, subcontracting has led to a massive majority of
employment for people in underdeveloped countries giving the ability to gradually creep out of
poverty. But yet there are still additional countries that observe their poverty rate rise steeply. We
will take a provocative look at globalization, where it improves a country such as Nigeria's
economy. We will talk about how things like Nigeria's use of Credit, reliance on foreign
technologies, lack of raw materials, production of substandard goods, government policies and
education comes into effect on their actual rapid growth in the economic aspect.
The organization of the Nigerian economy is a characteristic of an underdeveloped country. Over
half of the gross domestic product (GDP) is accounted for by the primary sector with agriculture
remaining to play a significant part. The oil and gas sector, in particular,

The Petroleum Revenue And Economic Growth Essay
PHD ECONOMICS ADMISSION RESEARCH PROPOSAL
DEGREE: DOCTOR OF PHILOSOPHY
DEPARTMENT: ECONOMICS DEPARTMENT.
PROPOSED TITLE: The Petroleum Revenue and Economic Growth in Nigeria.
INTRODUCTION AND BACKGROUND
The Petroleum industry in Nigeria is the largest source of government revenue and it occupies a
pivotal position in term of foreign exchange earnings with about 90 percent and over 80 percent
contribution to the Gross domestic product. Petroleum sector is the mainstay of Nigerian economy
since its discovery in commercial quantity in Oloibiri, Bayelsa State Nigeria in 1956. From 1970 to
2009, the income from petroleum stood at 82 percent with 18 percent from non–oil revenue.
According to the world bank, "Nigeria is the biggest exporter of oil in Africa with the largest natural
gas reserve in the continent". One of the main sources of petroleum income to the Nigerian
government is the petroleum Profit Tax. This petroleum profit tax emanates from the major oil
companies operating in Nigeria like Shell, Elf, Agip, Mobil, Chevron and Texaco. These major oil
corporations hold around 98 percent of the oil reserves and operating assets. Some other minor
corporations within the range of 45 to 50 has minor interest with recent acquisition of some of them.
Nigerian Petroleum industry has three major players in the oil industry: The ministry of Petroleum
resources, The Nigerian National Petroleum Corporation (NNPC) and its subsidiaries, the oil
prospecting companies; both

The Influence Of The Nigerian Oil Production
The Nigerian oil production has been an issue that has become a cruse to the people for so many
years. According to reports, the oil production has lubricated to Nigeria's failure because it has
damaged the economy as well as the environment and democracy. Anyone would think that a
country that has an enormous resource of petroleum would be economically stable but this is not the
case in Nigeria. For many years Nigeria has suffered effects directly as well indirectly from the oil
industry. For my research I am drawing from two sets of sources. I will be referring to the books that
I have researched as my A–sources. The newspaper articles will be referred as my B–sources in this
paper. Through out my paper, I will show you how and explain why the media today only reports
one side of the story while the books on my geopolitical topic will tell the background to the events
occurring.
The book, The Influencing Machine: Brooke Gladstone on the Media, written by Brooke Gladstone
is a graphic novel that tries to decipher the rapidly changing media business and the way people
interact with it. It traces the origins of modern journalism back to the Mayans and walks through the
journalistic roots in the cultures of ancient Rome, Britain, and Revolutionary and early America. The
book then dives into contemporary media condition. The media has become something that we love
and hate at the same time. "Everything we hate about the media today was present at its creation: its
corruption or

The Analysis Of The 2007 Mineral And Mining Act Essay
Additionally, the Act limits the duration of contract and exploration rights to 25 years, renewable
after 24 years upon a successful preservation of the standards, including environmental regulations
stated under the Act.
The analysis of the 2007 Mineral and Mining Act demonstrates that the excesses of the
environmental damage in the Niger Delta region did not emanate from inadequate legislation. The
problem is an ineffective implementation of the Act. As indicated in the first part of the paper, the
Nigeria government lacks the political will to implement the appropriate clauses important for the
protection of the Niger Delta's ecosystem because a significant percentage of the government
expenditure comes from revenues generated by oil corporations. The government's incapacity to
implement the Mineral and Mining Act results from a fear that strict adherence to the Act might
dwindle national revenue, and constrains budget. While this fear is a genuine one, it can however be
partly addressed by a diversification of the national economy, from oil based to include other sectors
of the economy. Diversify the Economy
There is a causality between lack of economic diversification and high levels of vulnerability. This
is the case in Nigeria as the oil sector contributes more than half to the country's GDP, yet, it only
provides employment to les than 5 percent of the country's teeming population. Over reliance on oil
does not destroy Delta's ecosystem, but also

A Report On Mergers And Acquisitions
Mergers and Acquisitions have always been considered as a .......................... and ever since the first
merger in Nigeria in 1980, Merger and Acquisitions have occurred in most sectors of Nigerias
economy. In 2004, the Central Bank of Nigeria in fulfillment of its mandate to Promote and
maintain of monetary stability and a sound and efficient financial system in Nigeria rolled out a 13
point rolled out a 13–point reform agenda aimed at consolidating the banking sector and preventing
the occurrence of systemic distress. The most important points of this reform package were first that,
the minimum capitalization of banks be increased from 2 billion naira to 25 billion naira before the
31st of December 2005 and second, that this aim was to be achieved ... Show more content on
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For this reason, many countries are moving towards consolidating their banking system and Nigeria
cannot be an exception."(pg 10) The CBN however noted that there would be some challenges to
this programme and they are enumerated below: o Ensuring that provision of adequate safety nets
and compensation packages are made by the merging banks to meliorate for potential job losses
arising from mergers; o Appropriate mechanisms for protecting possible disenfranchisement of
small depositors who may not be elcomed by the emerging mega–banks; o The regulatory
authorities, especially SEC, would need to be empowered to be active in the market to prevent hreat
to competitive market and monopolistic tendencies of mega–banks from consolidation. Also, the
NDIC and CBN would need to constantly monitor the activities and performance of the emerging
mega–banks to prevent bank distress and failures. (pg 14)
To address some of the issues highlighted by the CBN above, the Investment and Securities Act
2007 was enacted to replace the Investment and Securities Act 1999 and the some of the sections of
the Companies and Allied Matters Act applicable to Mergers and Acquisitions. The Investment and
Securities Act has however been criticized for being very
However in 2010, due to the global financial crisis and

Why Nigeria Should Be Able For Build A Prosperous Economy

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