Premium Essay

Nigeria Report

In:

Submitted By ashoo17111
Words 729
Pages 3
Nigeria, located in West Africa, is Africa’s most populous country with the recent estimate at 170 million. In spite of possessing huge human capital, fertile soils and being oil-rich, Nigeria can teach the mineral rich world a lesson or two about what not to do. Corruption, political instability, pollution and poor management are some of the reasons Nigeria has not been able to rise and gain the status it should have in the African continent.
Macro-economic factors
• Gross Domestic Product (GDP)
A look at the real GDP growth of Nigeria shows that it has ranged between 6.4% and 7.8% from 2007-2013. It reached its peak of 7.8% in 2010 and is forecasted to be 6.4% in 2012 as compared to the world average of 2.2% and 3.9% for Sub-Saharan Africa.
Economists say that it is in fact the non-oil sector that has pushed the economy forward, and will continue to do so. Growth can largely be attributed to activities in telecommunications followed by building and construction, and the services sector in general. Regulatory body, the Nigerian Communications Commission (NCC) was established in 1992, and commenced full market liberalization and reform in 2000. It is sensed that investment in telecom has triggered off an economic chain which has positively impacted other sectors of the economy.
GDP growth has not improved the living standards of the Nigerian people. They continue to be inundated with increased unemployment, poverty, poor healthcare among various others. As seen below, the GDP per head for Nigeria is significantly lower than the world average and is forecasted at $2,000 for 2012 as compared to the world average $13,000 and $3,000 for Sub-Saharan Africa.

• Sector contribution to GDP
As can be seen, non-oil sector had the maximum contribution to the GDP. Food production has increased steadily in the past few years and agriculture will continue to

Similar Documents

Premium Essay

Larson in Nigeria Wac Report

...Larson In Nigeria | WAC Report | | | | | 9/6/2012 | | Table of Contents Letter of Transmittal 3 Executive Summary................................................................................................................................4 Situation Analysis...................................................................................................................................4 Problem Statement 6 Statement of options 6 Criteria of Evaluation 7 Evaluation of Options 7 Recommendation 8 Action Plan 8 References 8 To, Mr. David Larson September 6th, 2012. Subject: Regarding report on the Larson Inc subsidiary in Nigeria. Dear Mr. David, I have herewith attached the report pertaining to the Larson Inc subsidiary in Nigeria. This report analyzes the situation pertaining at Nigeria and factors contributing to the problems experienced by Larson’s joint venture in Nigeria. This report will help you make a rational, logical and informed decision regarding your endeavours. Regards, xyz Executive Assistant, Larsen Inc. Executive Summary Pessimistic report of George Ridley, CEO of the Nigerian affiliate has lead Mr. David Larson, The vice-president of international operations, to prepare a plan to continue to operate the company's Nigerian joint venture. Maintaining the operation was complicated by problems in staffing, complying with a promise to increase the share of local ownership, a joint venture partner...

Words: 1271 - Pages: 6

Free Essay

Nigeria Budget

...A COMPARATIVE ANALYSIS OF THE NIGERIAN BUDGET FROM 1999 – 2013 ONOWA SIMON +2348064034407 Simoncy2k@gmail.com ABSTRACT This study examines the Federal Government budget in Nigeria between 1999 and 2013. The analysis of this study showed that for more than a decade of democratic dispensation in Nigeria, there has been a consistent increase in the total recurrent expenditure of the Federal Government. This has led to budget deficits. Thus a key macroeconomic issue addressed in this study is the rationale underlying government fiscal deficit, the significance of the rational expectation hypothesis in Nigerian economy and the consequences and impact of this action on the economy. Data for this study were collected from CBN statistical bulletin and gazette of the Federal Ministry of Finance. The study employed a descriptive analysis. Government has been allocation more fund to recurrent expenditure over the period under study. Using key fiscal indicators the study recommended that for overall sustained economic growth and development; federal government should increase substantially allocation to capital projects in rural Nigeria to trigger economic growth and development. Introduction A Budget is focused on the Government’s drive to achieve its developmental goals as entrenched in its Vision. It is also anchored on the commitment of the Government to improve the socio-economic status its people by strategically implementing plans and programmes to boost economic activity...

Words: 2515 - Pages: 11

Free Essay

Boko Haram in Nigeria

...Boko Haram in Nigeria Name School Boko Haram in Nigeria Following the September 11, 2001, attack in the United States of America, terrorism took a new dimension, not just in the country, but across the globe. The scale of terrorism spread to other regions, with terror groups increasing their diverse agendas. In addition to this increment, the need to develop new counter-terror campaigns became inevitable. Terrorism is an act of spreading brutality against the civilians with the aim of realizing political or aggressive goals. In the recent past, major continents have been terror victims, driven by different armed groups with various agendas. Defining terrorism is sometimes tricky. This is because they can be seen as freedom fighters to the natives but to the government or civilians, they are terrorists. More often than not, terrorists are driven by hatred that is passed through generations. What aspired towards the September attack towards the United States of America was perceived animosity between the Muslims in the Middle East and the Americans. In fact, the majority of the causalities were the Americans, while the terrorist were affiliated with al Qaeda. As mentioned earlier, what started as hatred against the Americans turned out to be a global catastrophe. The Western part of Africa is no exception, particularly in Nigeria. In the past decade, al Qaeda-affiliated group commonly referred to as the Boko Haram has been on the rampage in Nigeria. Boko Haram is drawn from...

Words: 1819 - Pages: 8

Premium Essay

The Implications of Fuel Subsidy to Nigerian Economy

...subsidy is, the reason for subsidizing petroleum product in Nigeria, challenges the Nigerian economy is facing because of subsidizing petroleum products, and the crisis the country is facing because of subsidy. Analysis According to the dictionary of Investopedia, “subsidy is a benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy is given to remove some burden and is often considered to be in the interest of the public. Politics plays an important part in subsidization. In general, the left is more for having subsidized industries, while the right feels that industry should stand on its own without public funds” (Investopedia, 2015, p. 1). The above definition clearly indicates that the subsidy is a kind of free money in whatever form given to the public by Government. It is worth noting that the definition highlighted that politics plays a role in subsidy, and politicians on the left, (e.g. in U. S. the Democrats) favor subsidy. The Merriam-webmaster dictionary defines subsidy as “money that is usually paid by a government to keep the price of a product or service low or to help a business or organization to continue to function” (Merriam-webmaster, 2015, p. 1). Nigeria is ranked as the world’s 14th largest producer of crude oil, and 10th largest proven reserve crude oil in the world (Sagagi, 2011). Transparency International ranked Nigeria 134 out of...

Words: 1471 - Pages: 6

Premium Essay

International Investment Report

...International Investment Report - British Petroleum in Nigeria Group D June 6, 2015 Table of Contents Introduction 3 Country Evaluation 6 Industry Overview 9 Regulatory structure 9 Competition – Major and minor competitors 12 Local financing options for the expansion 12 Overall attractiveness of the industry 13 Entry Strategy 13 Recommendations 17 References 20 Introduction Nigeria in West Africa is about twice the size of California in the US but is the largest country in Africa. Just over 160 million people live in this country with approximately 800,000 of them living in the capital city of Abuja which is located in the very center of Nigeria. (Nigeria) Nigeria has two distinct reputations. One as a corrupt and violent country that is not highly recommended for tourist type visitations (although it does have incredibly interesting historical sights) and the other for being the country visited mostly for unbelievably lucrative business transactions involving oil and gas. The Nigerian people live mostly in poverty in a country where oil and gas exports total billions in revenue. This is due to the fact that the Nigerian government has total control over their property rights. In addition corruption within that government runs rampant. According to an article by Michael Burleigh 70% of Nigerians live below poverty level struggling to survive. (Burleigh) What is even more interesting in a country rich in oil and gas is that the poverty...

Words: 5113 - Pages: 21

Free Essay

Nigeria Paper

...In the beginning Nigeria was controlled and influenced by the British through the 19th century; Nigeria finally earned its independence in 1960. Nigeria is the largest most populated country in Africa. After 16 years of military rule Nigeria’s independence came in 1960. Today Nigeria is by far Africa’s leader in economic power. Nigeria earned its independence from Great Britain on the first of October 1960. The constitution of Nigeria was not written until the May 5, 1999 and it was not effective until May 29th, 1999. Nigeria has a Federal Republic government system. Nigeria has mixed legal system made up of English common law and Islamic in 12 northern states and Traditional law. Nigeria’s Administrative divisions are broken up in 36 states and 1 territory. Nigeria has a bicameral legislative branch consisting of a Senate and a House of Representatives. The Senate has 109 seats each member holding the seat for four years, and the House of Representatives have 360 seats with each member also hold the seats for four years. Nigeria has the world’s eighth largest population; according to ww.cia.gov Nigeria has approximately 174,507,539 as of July 2013. Nigeria is composed of more than 250 ethnic groups. The most prevalent being Hausa and Fulani making up 29% of the population, followed closely behind by Yoruba 21%. Muslim is by far the most popular Religious choice; Christianity is a close second. Nigeria has an average life expectancy of 52 years; this is boosted mostly by...

Words: 1755 - Pages: 8

Premium Essay

Primark

...that are economical affordable. The company sources cheaply, using simple designs and fabrics in the most popular sizes and buys stock in bulk. Primark core competence is in their distribution change, the source all their products (Primark, 2013). Presently Primark Clothings are worn all over the world. However, Primark only has stores and outlets in Europe. This report proposes Primark entry into the Nigerian retail market using two P’s (Promotions and Product), the marketing mix, marketing planning, entry and analysis of the cultural factors that may affect the process. 2. Nigerian Retail Industry and Nigeria’s retail sector is undergoing change with international retail brands entering the country, new malls being constructed and the transformation of informal markets into more modern facilities. Shoprite a South African retailer and the biggest on the continent have been in operations in Nigeria and have branches across the country in Lagos, Abuja and Portharcourt. They are other retailers like Spar (European retailers), Zara and Mango who have recently opened outlets in Lagos. The retail industry in Nigeria has witnessed strong growth within the last five years and industry watchers are speculating more growth in the coming years. The industry is currently valued at about...

Words: 1647 - Pages: 7

Premium Essay

Religious Conflict in Nigeria

...TITLE PAGE RELIGIOUS UNREST IN NIGERIA: CAUSES, EFFECTS AND SOLUTION. DEDICATION I want to dedicate this work to those prospective authors that dedicated their time to evaluate files and write about the religious situation in the country and give their general opinions on the matter. ACKNOWLEDGEMENT. I want to acknowledge the lord Almighty, for the wonderful work he has done in my life and the aid he rendered me during the research of this work. PREFACE This discusses the solutions causes and effects of the ongoing religious conflict in the country. The religious conflict have taken so many loved ones and destroyed a lot of properties. The text elaborates al these and review the timeline of those events act the number of lives lost the number church and mosques destroyed all for the name of religious conflict. CHAPTER ONE 1. INTRODUCTION Nigeria is known be highly religions each of these groups has its own religious behalf and procures. Religion is the strongest element in traditional background and the greatest influence upon the thinking and living of the people concerned. According to John S. Mbiti “religion are not primarily for the individual but for his community of which he is part. Chapters of Nigerian religion are written everywhere in life of the community and in traditional society there are no irreligious people. To be human is to belong to the whole...

Words: 4603 - Pages: 19

Premium Essay

Adapting to Drought in the Sahel: Lessons for Climate Change

...Adapting to drought in the Sahel: lessons for climate change Michael Mortimore∗ The Sahel’s experience of adapting to changes in rainfall on a scale at least comparable to that of climate change scenarios, between the 1960s and the 1990s, suggests that lessons can be learnt that may have a wider utility for policy in the future. The Sahel is a major global agroecological region and its success in adaptation will influence the achievement of the global Millennium Development Goals. From simple typologies of adaptation strategies, our understanding of adaptive capacity has evolved over time (with accumulating observations) into a contextual model which places drought management at the center of a development process. Climate change impacts in future are very uncertain. Policies and interventions should therefore aim to build on the platform of past achievements and existing local knowledge to enable flexibility and diversity and the protection of assets of small-scale farmers and herders .  2010 John Wiley & Sons, Ltd. WIREs Clim Change 2010 1 134–143 ‘Africa is the most vulnerable region to climate change, due to the extreme poverty of many Africans, frequent natural disasters such as droughts and floods, and agricultural systems heavily dependent on rainfall’.1 ‘the continent’s low adaptive capacity serves as a major constraint to her ability to adapt’ (Ref 2. p. 6). ‘It is uncertain how rainfall in the Sahel, the Guinean coast and the southern Sahara will evolve in this century’...

Words: 7491 - Pages: 30

Free Essay

Shell Nigeria

...operations in Nigeria into context. Nigeria, an English speaking country in West Africa, is the most populated country in Africa with 180 million people; and has one of the largest and fastest growing economies in the world with five percent growth in GDP every year. Further, Nigeria is one of the world’s largest producers of oil in the world and is part of the Organization of the Petroleum Exporting Countries (hereafter “OPEC”). RDS, a British and Dutch multinational gas and petroleum company headquartered in Holland, has many subsidiaries such as the Shell Oil Company (American Subsidiary) and Shell Petroleum Development Company (Nigerian Subsidiary hereafter referred to as “SPDC”). SPDC has been the biggest fossil fuel company in the Nigeria and it accounts for over twenty percent of Nigeria's total oil production. Shell was first established in Nigeria in 1937 and was given a license of exploration in 1938. Four years before Nigeria’s Independence from Great Britain in 1960, Shell Nigeria discovered economically feasible oil in 1956. In 1957, Shell established the first oil field in the Delta region of Nigeria, located in the land owned by the Ogoni tribe. By 1958, Shell had begun exporting oil from Nigeria for the first time commercially. I. Question of Ethical Breach? Since the 1970’s, Shell has consistently been accused of major environmental and human rights violations for its oil activities in Nigeria. The “Ejama-Ebubu...

Words: 703 - Pages: 3

Premium Essay

Female Education

...GIRL-CHILD EDUCATION IN AFRICA BY PROFESSOR GRACE CHIBIKO OFFORMA DEAN, FACULTY OF EDUCATION UNIVERSITY OF NIGERIA, NSUKKA KEYNOTE ADDRESS PRESENTED AT THE CONFERENCE OF THE FEDERATION OF THE UNIVERSITY WOMWNE OF AFRICA HELD IN LAGOS-NIGERIA ON 16TH – 19TH JULY, 2009. Introduction In this presentation, we will first of all try to explain the key concepts in the title, namely, girl-child and education. Then we will present and discuss the issues/factors in the girlchild education, citing examples from some African countries. Such issues include: access, equity, enrollment, retention/drop-out, and achievement in school subjects. Solutions of the constraints raised will be proffered. This conference is timely and apt. On Monday July 20, 2009, the President of Nigeria, President Musa Umaru Yar’Adua, GCFR, will flag off the National Campaign on access, while the Federal Minister of Education will launch the Roadmap for the Nigerian Education sector, which includes:  Access and Equity  Standards and Quality Assurance  Technical and Vocational Education and Training, and  Funding and Resource Utilization. In the course of this conference, we are going to discuss some of these and proffer recommendations which will be useful to the Federal Ministry of Education for effective implementation of the Minister’s roadmap. The Girl-Child The girl-child is a biological female offspring from birth to eighteen (18) years of age. This is the age before one becomes young adult. This period...

Words: 4919 - Pages: 20

Free Essay

The 2015 Presidential Election in Nigeria

...world: It is the nature of politics and governance: one major event often defines the outcome of an election or public perception of a regime. Therefore, the most remarkable outcome of Nigeria’s 2015 presidential election is that President Goodluck Jonathan conceded defeat to General Muhammadu Buhari in a very timely fashion. This good sportsmanship of President Jonathan immediately conferred statesmanship on him. His presidency will be remembered for nothing better or worse because what he delivered is what was mostly important to Nigeria, Nigerians and the world: peaceful outcome of the election. That the one who fostered electoral best practice became its major victim is an irony; but it is not a cruel irony. It is what has earned President Jonathan greatness. If he had been the beneficiary of his efforts which made the elections that held during his presidency far more credible than all the previous elections in the history of independent Nigeria, the positive shift he has now given Nigerian elections would not have been very obvious, significant and pace-setting. Indeed, we could not have missed the sacrifice of President Jonathan in this election. On national television stations, we saw the President wait on his feet for a fruitless over 30 minutes for INEC’s card readers to accredit him, his wife and mother. He endured the harrowing and provocative experience with equanimity. Whatever frustration he felt, he completely controlled it, urging Nigerians to keep faith with INEC...

Words: 2961 - Pages: 12

Premium Essay

Economics in Nigeria

...A Look into Nigeria’s Economy The Republic of Nigeria, more commonly known as Nigeria is the largest country in Africa and was under the control of Great Britain until 1960 when they gained independence. In 1999 Nigeria returned to a democratic form of government which has worked well for them until just recently when security concerns began to arise due to the presence of the radical Islamist sect, Boko Haram. Nigeria has the continent’s largest population with 173.6 million people and the largest economy as well. Although Nigeria’s economy is the largest in Africa, 61 percent of the residents are reported to survive on less than $1.00 per day with corruption within the government being the main reason for poverty. Nigeria is also the largest oil producer in Africa and the 10th largest oil producer in the world and as of 2009, the Nigerian film industry was the second largest movie producer in the world. When looking at economic freedom, Nigeria is ranked 120th in the world and 22nd in the Sub-Saharan Africa region and has an Economic Freedom Score of 55.6. The labor force of Nigeria is roughly 54.2 million or 56.1 percent of the population and the unemployment rate is 8%. Nigeria has experienced strong economic growth averaging 6.5 percent within the past ten years and inflation has decreased in recent years to the rate of 8 percent. It is my goal to explore unemployment in Nigeria, the reason for its strong economic growth as well as the improvement and decline in...

Words: 1755 - Pages: 8

Premium Essay

International Human Resource Management

...Introduction International human resources management (IHRM) may be defined as the total knowledge, skills, innovative abilities, and aptitudes of an organization's workforce, as well as the attitudes, values, and beliefs of the individuals involved in the affairs of the organization. It is the heart and soul of business’s or organization’s success. According to Think+Up, “Human resource management is a business function focusing on the staffing needs and responsibilities of a company. Because employees are often the largest business asset in a company, companies may spend copious amounts of time and effort evaluating their human resource management systems”. In today’s organizations, to guarantee their viability and ability to contribute, IHRM managers need to think of themselves as strategic partners. In this role, the IHRM person contributes to the development of and the accomplishment of the organization’s business plan and objectives. The IHRM business objectives are established to support the attainment of the overall strategic business plan and objectives. The tactical IHRM representative is deeply knowledgeable about the design of work systems in which people succeed and contribute. This strategic partnership impacts IHRM services such as the design of work positions hiring, reward, recognition and strategic pay, performance development, appraisal systems, career and succession planning, and employee development (Heathfield, n.d.). The globalization of human resource...

Words: 4261 - Pages: 18

Free Essay

Personality Factor in the Conduct of Nigeria’s Diplomacy: a Comparative Study of the Olusegun Obasanjo and Musa Yar’adua Administrations, 1999-2000

...Requirements for the award of the Degree: Masters of International Relations and Strategic Studies. (MISS) AUGUST 2012 PROPOSAL This work, adopting a multidisciplinary approach, seeks to analyse aspects of Nigeria’s diplomacy, specifically the effect of the leader’s personality on the conduct of Nigeria’s external relations. To effectively do this, the work shall comparatively assess Nigeria’s diplomacy under Presidents Obasanjo and Yar'Adua from 1999-2010. Seeking to see the effect their personality type had on the manner, trends and approach to Nigeria’s diplomacy during the period. On record President Obasanjo undertook a shuttle diplomatic effort across the globe especially between 1999 and 2002, this is said to have reintegrated Nigeria into the comity of Nations, where she was previously a pariah. How did his personality affect these efforts? Was his personality added value or reduced value? At the point of his death President Yar’Adua was ECOWAS chairman, previously in 2009 he attended the G20 meeting in Germany, visited President George Bush at the start of his term and other diplomatic engagements. How did his personality affect all these? On the whole how did the respective personality of both leaders affect Nigeria’s Diplomacy within the period under review? And what does the country now enjoy as a legacy of their efforts, specifically the nature of their individual personae and leadership style and what lessons could the country learn from all these. Indeed we...

Words: 31209 - Pages: 125