StudentShare solutions
Triangle menu

The Structure and Development of Nigerian Economy - Essay Example

Not dowloaded yet

Extract of sample
The Structure and Development of Nigerian Economy

The current president Umaru Yar'Adua came to power following a controversial election in 2007.
The economy of Nigeria has always been dominated by Petroleum accounting for about 25 percent of GDP. 90 percent of exports consist of petroleum and related products and 70 percent of government revenue comes from Oil. But lately its dependence on oil is set to change due to the constant disturbance in the delta region making oil production difficult. About 65% of the population is engaged in agricultural activities.
The Economic reform in Nigeria started in year 2000, but the growth has been very slow throughout the country. Corruption remains pervasive despite progress made by the Economic and Financial Crimes Commission.
-The paper aims to examine the overall economic development in Nigeria after its independence. The paper looks in detail how far the natural resources in Nigeria like petroleum, oil and gas sectors has helped the economic development of the country. It will also do an analysis of whether Nigeria depends too much upon the oil sector which provides 95% of its export earnings, and how this factor has weakened its agricultural potential. What are the major factors that contributed growth of Nigerian economy as a whole and what are the driving forces of Nigerian economy What are the underlying weaknesses of Nigeria as a country How corruption in Nigerian governmental agencies has affected the growth of Nigeria in all spheres.
Objectives:
To evaluate overall economic development in Nigeria for the last 5years (i.e. GDP rates, inflation or deflation, interest rates, movement of cash flow; rate of the Unemployment; and macroeconomic performance of the whole country).
To analyze the growth of the petroleum, oil & gas sector, how far this growth has affected government revenue & economic development of the country.
To discuss the trend in unemployment rate within the last 5years and evaluate whether the petroleum & gas sectors has any impact on such trend.
Analyze problems in development of the economy due to lack of attention of government in agriculture & rural areas.
To evaluate the various initiatives taken by the Nigerian Government to tackle the issues that hampers the economical growth of the country.
(Erhiawarien).

Work Cited

Index of Economic Freedom: 2008. The Heritage Foundation. 2008. 16 Apr. 2008. .
Nigeria: General Information. MBendi Information for Africa. 23 Aug. 2006. 16 Apr. 2008. .
Nigeria: Economy. 16 Apr. 2008. .
Country briefings Nigeria: History in Brief. Economist.com. Business friendly. 15 Nov. 2004. 16 Apr. 2008. .
Erhiawarien, Mercy. Master's Dissertation Proposal - Nigeria's NEEDS, an Analysis of the NEEDS Policy. 16 Apr. 2008. ...Show more

Summary

Nigerian economy is a very strange case of a country having to start all over again after 40 years of independence. The economy nose dived into severe depths due to a plethora of problems such as coups and military rule, Muslim - Christian religious division and animosity, border demarcation issues with neighboring countries, poor banking infrastructure and corruption in all sectors…
Author : millie28
The Structure and Development of Nigerian Economy essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"The Structure and Development of Nigerian Economy"
with a personal 20% discount.
Grab the best paper

Related Essays

Socio-economic Development of West Africa after the ECOWAS Creation
According to the paper, the exploitative relationship which existed between West African countries and the developed countries, since colonialism has not been fixed. The creation of the Economic Community of West African States did not solve the problem of the persisting nature of the trade balance between ECOWAS countries and the developed world.
13 pages (3250 words) Essay
Definition, Structure and Functions of Family
Thus, this paper sought to present the different definitions of family. In addition, it outlines the essential role of family in the society. This paper also presents the different theoretical approaches of family including the functionalist perspective, conflict/feminist perspective, symbolic interactionist, and postmodernist.
16 pages (4000 words) Essay
The Impact of Neocolonialism on the Social, Economic and Political Life of Nigeria
From this research it is clear that the present imperialist and dominating neocolonial structure and practice in Nigeria can be attributed to the country’s history of colonialism and its continued dependence on assistance from foreign Aid and Assistance. Therefore, Nigeria should focus intensively on knowledge production, to help free its present economic-socio-political condition from neocolonial dependence.
8 pages (2000 words) Essay
GROUP DEVELOPMENT AND THE GROUP STRUCTURE
INTRODUCTION This assignment is conducted with the purpose of showing the ability of research and analysis of an organization’s culture, structure, culture and approach to the management and leadership. This reflective essay is derived from my experience and this essay evaluates leadership management and its impact on the group performance.
8 pages (2000 words) Essay
Modern World Cinema
As at early seventies in Nigeria, the major Nigerian cinema hall were mainly into showing of foreign films such as Asian Films Popularly Known as Indian films as well as the popular Chinese films, Some of the Films include Burning Train, Nagin, Mother India, Disco Dancer, Daram Via, Immandaram, Shollay, Snake In The Monkey Shadow, The Shaolin Temple, Drunken Master, Five Element Ninjas etc.
4 pages (1000 words) Essay
Economy - Market structure & Macroeconomy
Mombasa is an important shipping port for imports and exports along the East African coast, it is also a popular tourist area, with many hotels to the North and South of the 15 square km island. The population of Mombasa is roughly 900,000.
8 pages (2000 words) Essay
Modern World Cinema
Today, the Cinema has grown into big a industry due to technological development as well as the desire to reach the wider world with various arts and culture and for the purpose of commerce.
4 pages (1000 words) Essay
Structure and Development of Victorian (VELS) Curriculum
The Victorian Essential Learning Standards (VELS) is one of the revolutionary curriculum methods implemented by the state Victoria in Australia.
4 pages (1000 words) Essay
Skullcandys New Product Development Team Structure
Skullcandy, the pioneer that introduced headphone that connects to both the cell phone and an MP3 player. By following the dream that Rick Alden had, the company soon broke its $1 million sales in 2005. The growth of the company was inevitable and in the following year the company sold almost $10 million worth of products in the market.
7 pages (1750 words) Essay
The impact of port privatization on economic development in Nigeria
It is a strategy where the government-owned public business functions and management are taken over by the private sector. A privatisation policy shows an outright transfer of sale or the state of
12 pages (3000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation