And this is no farce; there is data to prove it. Government social programs—N-Power and other youth empowerment schemes—are meant to address unemployment. Tailwinds and headwinds .
The economy could now be set to face another major headwind – falling aggregate spending by households or consumers in the economy. Low skills limit opportunities for employment in the formal economy. In all oil price-related shocks, the Nigerian economy has witnessed, the industrial sector is usually the first and major casualty, especially because of its exposure to foreign exchange. In doing this, the study looked at ... economy worse off; abolition of the constitution by replacing it with decrees, abuse of fundamental human rights among others. Removal of fuel subsidy – Nigeria spent $1.8 billion on fuel subsidy in 2018, four times more than it spent on Health, Education and Science and Technology. This paper studied corruption and the Nigerian economic growth. The Effect and Policy Analysis of Global Financial Crisis on Nigeria Economy. Major Sector Driving Nigeria’s Economy: Agriculture Agriculture is the largest sector of the Nigerian economy with GDP contribution of about 40%. Real GDP growth is projected to rise to 2.9% in 2020 and 3.3% in 2021.


It is also of immense help in providing an insight and knowledge to the general public, policy makers and economic planners on the analysis of twin deficit and manufacturing sector of Nigerian economy.

To the academia, the findings of the study will contribute to the available literature on twin deficit hypothesis and in Nigerian economy. Since the late 1960s it has been based primarily on the petroleum industry. APA: Olatunji, J. The need to restructure and diversify the productive base of the economy, with a view to reducing dependence on the oil sector and imports has never been more apparent. Olatunji, J. and Weihang, H., 2018. economy and business of Nigeria is concerned, the country has a fastest growing economy and is an attractive business location. International Journal of Management Science and Business Administration, 3(4), pp.58-64. This accounts for about 23% of arable land across all of West Africa. Nigeria has been one of the most prominent members of the. Nigeria - Nigeria - Economy: The Nigerian economy is one of the largest in Africa. & Weihang, H. (2018). At the discovery of oil between the 1970s and 1980s, Nigerian economy received even bigger boost. Slashing this cost by at least, 40 percent, will free up revenue to cushion the effect of the Oil price plunge on the 2020 budget and broader Nigerian economy. Research shows that Nigeria has over 80 million hectares of arable land. In the run up to the Nigerian Democracy Day celebrations on May 29, Falz, the rapper, actor and lawyer, also known as Folarin Falana, posted a … The Effect and Policy Analysis of Global Financial Crisis on Nigeria Economy. It holds up the other sectors in the […] Consumer and household spending is crucial because it is the largest component of GDP. A series of world oil price increases from 1973 produced rapid economic growth in transportation, construction, manufacturing, and government services.

Dependence on agriculture shot Nigerian high among the comity of nations, but discovery and exportation of oil pushed the country even further to the limelight. As long as the Nigerian economy remains a mono-economy totally dependent on oil revenues, the nation will continue to remain vulnerable to oil price shocks.

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