African Economic Prospects
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Africa's economic prospects are promising as development is now internally driven and market-based, with massive potential for increased trade within the continent. Key focus areas for the future include maintaining political stability and good governance, diversifying economies to sustain growth, improving infrastructure, and effectively managing foreign investment, aid, and natural resources. Education, health, and sharing information locally are also important.
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Abstract: Nigeria is one of the economies with great demand for goods and services and has attracted some foreign direct investment over the years. The amount of foreign direct investment inflow in to Nigeria has reached US $ 2.23 billion in 2003 and it rose to US $ 5.31 billion in 2004 (a 138 % increase), this figure rose again to US $ 9.92 billion (an 87% increase) in 2005. The figure however declined slightly to US $ 9.44 in 2006 while it has been on astronomical fall since 2006 till date. (CBN, 2011). The question that comes to mind is, do these for actually contribute to economic growth in Nigeria? If foreign direct investment actually contribute to growth, then, the sustainability of foreign direct investment is a worthwhile activity and a way of achieving this sustainability is by identifying the factors contributing to its growth with a view to ensuring its enhancement. The nose driving this research is to determine the short run impact of FDI on economic growth, OLS with ward test analysis was employed to determine the short run analysis of impact of FDI on economic growth. The result shows that all the explanatory variables such as Gross Fixed capital formation (GFCF), Total labour force (TLBF), Foreign Direct Investment (FDI) Lending rate and Average Manufacturing Capacity Utilization (AMCU) grossly affect economic growth in Nigeria. The result also implies that there exist a singleton (short run) impact of FDI on economic growth, recommendation was made that government must put in place all the pull factors such as good road, stable power supply and most essentially security of life and property of foreign investors in order to reduce the level of unemployment which serves as impediment to sustainable development in the Nation Nigeria.
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Howard Fineman, Veteran Political Journalist and TV Pundit, Dies at 75
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From his beginnings with a daily newspaper, he moved easily through Newsweek magazine to cable news and, later, to the frontiers of online journalism.A draft Ukraine-Russia treaty from April 2022
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Federal Authorities Urge Vigilance Amid Bird Flu Outbreak | The Lifesciences ...
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Ceci est le projet de traité qui avait été négocié entre Russes et Ukrainiens à Istanbul en mars 2022, avant que les Etats-Unis et la Grande-Bretagne ne détournent Kiev de signer.
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ACSA confirms operational readiness ahead the arrival of Heads of State at OR...
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- 14. Concluding thoughts [South Africa is no longer the “gateway to Africa”] The development agenda is increasingly market based and internally driven A possible convergence effect? Massive scope for trade within Africa Focus areas looking forward Political stability and good governance Sustainability of growth (diversification) Infrastructure Managing FDI, aid and natural resources effectively Education Health and fertility Sharing information at a local level