when oil prices jumped to almost $40/bbl‚ the Since the oil prices collapse in the early 1980s‚ Nigeria experienced rapid external debt built-up and dwindling foreign exchange reserves: public and publicly guaranteed external debt increased from $4.3 billion to $11.2 billion‚ while foreign exchange reserves were almost exhausted‚ from $10 billion to $1.23 billion‚ all between 1981 and 1983. Nigeria had to borrow heavily from commercial sources‚
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Topic: Controversies of Census Figures. Case study: Nigeria The first census was held in Nigeria in 1866. The colonial authorities conducted other census exercises in 1871‚ 1901 and 1911‚ whereas all these covered only the Lagos colony and in 1911‚ the southern protectorate. The first nationwide census involving the north and south were organized in 1921. There was also the 1931 census and the 3-year 1951-1953 census. The 1963 census was upheld but only because the Supreme Court ruled against
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NAME: NDUKA MARY C. COURSE: ENTREPRENEURSHIP MATRIC NO:126072034 History of Entrepreneurship in Nigeria Tradition is an inherited pattern of thought or action. It refers to a specific practice of long standing. It is also an established custom or tradition – a custom that for a long time has been an important feature of some cultural … group‚ tribe‚ ethnic group‚ society‚ nation etc. Traditional means: when a practice consists of a method or procedure and this is derived from tradition. This
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President Goodluck Jonathan yesterday presented a budget proposal of N4.2 billion to the joint session of the National Assembly with emphasis that job and wealth creation for teeming unemployed Nigerians would top the agenda of his administration in the coming fiscal dispensation. The initial schedule of the president to make the presentation at 12 noon yesterday at the green chambers of the House of Represents‚ was rescheduled to 2 p.m. He was later accompanied to the venue by his Special Adviser
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Home ALLOCATION OF REVENUE (FEDERATION ACCOUNT‚ ETC.) ACT ARRANGEMENT OF SECTIONS SECTION 1. Distribution of the Federation Accounts‚ etc. 1 Formula for distribution between the Federal and State Governments. 1 Formula for distribution between Local Government Councils. 1 Proportion of revenue to be paid by each State to Joint Local Government Account. 1 Allocations under special Funds. 1 Establishment of Federation Account Allocation Committee and functions. 1 Establishment of Joint
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COPYRIGHT PROTECTION IN NIGERIA You would recall that in my last article‚ I stated that there is no centralized system of registering copyright in Nigeria. I stated that a “work” which is the subject not the copyright need not be registered before it can be protected under the law. In the process of patenting an invention‚ I came across a process known as copyright notification and I think it is important that I share it with you (You are probably wondering what Patent registration has to do with
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The educational System of Nigeria OVERVIEW Education in Nigeria is the shared responsibility of the federal‚ state and local governments. The Federal Ministry of Education plays a dominant role in regulating the education sector‚ engaging in policy formation and ensuring quality control. However‚ the federal government is more directly involved with tertiary education than it is with school education‚ which is largely the responsibility of state (secondary) and local (primary) governments. The education
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A COMPARATIVE ANALYSIS OF CORPORATE REPORTING IN NIGERIA AND IN THE UNITED KINGDOM Abstract; This paper presents a comparative analysis of corporate reporting in Nigeria vis-à-vis UK. It describes the key factors in the business environment which influenced accounting system development as well as the regulatory frameworks. It tabulates and compares significant accounting rules and methods prescribed by both UK and Nigerian GAAPs‚ using the Financials of Dangote Cement Plc‚ a hugely market capitalized
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CURBING CYBERCRIME IN NIGERIA. Seven years ago‚ back in my secondary school‚ we were invited for an annual debate: internet has done more harm than good‚ argue for or against‚ I wondered how in the world our rivals were going to yank purpose at this theme‚ this one sided coin. It was improbable and we were the only victors I could see. There was hardly any blemish to the internet; it was the best thing you can imagine. Bringing the world to the very doorstep of everyone amidst a host of all
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Macroeconomics of Minimum Wage Draft: Do not quote MACROECONOMIC EFFECTS OF MINIMUM WAGE IN NIGERIA: A GENERAL EQUILIBRIUM ANALYSIS Abiodun O. Folawewo* Abstract This paper examines the macroeconomic effects of minimum wage (MW) policy in Nigeria using a static computable general equilibrium. Data for the study is drawn from year 2005 National Account of the country. The data is used to construct a 22 x 22 social accounting matrix (SAM) for the economy. The calibration exercise shows that the
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