THE EFFECTS OF GOVERNMENT POLICY AND CORRUPTION ON NIGERIA’S ECONOMY CONTENTS General Economy of Nigeria (Introduction) Colonial Economy and Independence Coups‚ Military Government and the Biafra War Current Civilian Governance and Institutionalized Corruption Summary List of References GENERAL ECONOMY OF NIGERIA (INTRODUCTION) Nigeria is a third world country located in West Africa. It is bound by Niger Republic and Chad to the north‚ the Atlantic Ocean to the south‚ Cameroun
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Agriculture and the national economy The importance of cotton to the economy Invention of the cotton gin Eli Whitney invented the cotton gin in 1793 Revolutionary impact of the gin It made cotton producing much faster and more efficient Impact on slavery It made less work for the slaves‚ and it made the cotton much easier to work with Encouragement of westward migration It was encouraged to grow cotton westward because there was more land and it was more fertile. Cotton
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Domestic Debt and the Nigerian Economy I. Adofu and M. Abula Departm ent of Eco nom ics‚ Kogi S tate University‚ A nyigba‚ Nigeria Abstract: The study investigates the empirical relationship between domestic debt and economic grow th in Nigeria. Using OLS regression techniques and the time series data from 1986 – 2005‚ the study explored the relationship betw een d ome stic deb t and economic growth in Nigeria. Our result shows that domestic debt has affected the growth of the economy negatively. In the
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INTRODUCTION: The natural resources of any nation‚ particularly the minerals‚ often constitute the lion share of the nation ’s wealth. It is known that oil and gas sector is driving sector of any oil producing country’s economy; this is particularly true of the OPEC nations including Nigeria. The oil and gas Industry is divided into three major sectors namely the upstream‚ midstream and downstream. Nigeria has an abundance of oil and gas resources to justify subsidized and‚ in fact
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ABSTRACT The development of agriculture since 1960 and its contribution to the growth of the economy has been discussed in the course of this study. It is however obvious from the analysis that though agriculture has contributed positively to economic growth‚ there are fundamental problems attributable largely to the characteristics of Nigerian agriculture. It is also evident that unfavourable environments as well as poor implementation of economic policies were detrimental to output increase in
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NIGERIAN ECONOMY/GDP AND PRODUCTION Nigeria recorded a Current Account surplus of 11.60 percent of the country’s Gross Domestic Product in 2011. Current Account to GDP in Nigeria is reported by the African Economic Outlook. Historically‚ from 1980 until 2011‚ Nigeria Current Account to GDP averaged 1.2 Percent reaching an all time high of 37.9 Percent in December of 2008 and a record low of -18.7 Percent in December of 1986. The Current account balance as a percent of GDP provides an indication
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FDI and Economic Growth: Evidence from Nigeria By Adeolu B. Ayanwale Department of Agricultural Economics Obafemi Awolowo University Ole-Ife‚ Nigeria AERC Research Paper 165 African Economic Research Consortium‚ Nairobi April 2007 THIS RESEARCH STUDY was supported by a grant from the African Economic Research Consortium. The findings‚ opinions and recommendations are those of the author‚ however‚ and do not necessarily reflect the views of the Consortium‚ its individual members or the
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rubber. Starting from a low technological base after political independence in 1960‚ the country embarked on the arduous task of building a state with one identity by integrating the different ethnicities and transforming the barter economy into financial exchange economy. The country provided infrastructure and social amenities for a very young population. Over the years‚ policies were pursued in order to achieve the goal of a balanced national development that reflects the “Federal Character” of
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study is based on secondary data. This text is primarily focused on contribution of agriculture in the economy of Bangladesh. In the way of doing so‚ a short briefing about the economy of Bangladesh is given and demonstrated Bangladesh agriculture condition at a glance. The agriculture is shown as the share of GDP‚ proportion of labor force working in agricultural sector‚ budget allocation for agriculture‚ agriculture in net export-import and countered with some fancy questions those pop up in our heads
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this site are extracts from literature review of research projects‚ Get the full Project THEORETICAL LITERATURES The term “Agriculture” has been subjected to different definitions by various experts. As a result Ighodo (1984: 20) defined agriculture as the art and science of the cultivation of crops and rearing of animals for man’s use. He also emphasized that agriculture is also the production of fibres for industries‚ processing of farm produce‚ packaging and marketing of farm products. This
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