The Challenges Of Nigerias Economic Reform
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Author | : Ngozi Okonjo-Iweala |
Publisher | : |
Total Pages | : 28 |
Release | : 2007-06-01 |
Genre | : Nigeria |
ISBN | : 9780979037658 |
"Following years of economic stagnation, Nigeria embarked on a comprehensive reform program during the second term of the Obasanjo administration. The program was based on the National Economic Empowerment and Development Strategy (NEEDS) and focused on four main areas: improving the macroeconomic environment, pursuing structural reforms, strengthening public expenditure management, and implementing institutional and governance reforms. This paper reviews Nigeria's recent experience with economic reforms and outlines major policy measures that have been implemented. Although there have been notable achievements under the program, significant challenges exist, particularly in translating the benefits of reforms into welfare improvements for citizens, in improving the domestic business environment, and in extending reform policies to states and local governments." The authors argue that the reform program must be considered as 'initial steps on a long journey'; consequently, they have outlined a number of outstanding issues that need to be addressed by future Nigerian administrations.
Author | : Toyin Falola |
Publisher | : Kent State University Press |
Total Pages | : 294 |
Release | : 2004 |
Genre | : Business & Economics |
ISBN | : 9780873388016 |
Created as a result of British colonialism, Nigeria emerged as a nation-state during the mid-20th century. Toyin Falola presents statistical data on Nigeria's economy that illustrate the nature of the changes made throughout the mid-20th century.
Author | : Ngozi Okonjo-Iweala |
Publisher | : MIT Press |
Total Pages | : 211 |
Release | : 2014-08-29 |
Genre | : Business & Economics |
ISBN | : 0262526875 |
A report on development economics in action, by a crucial player in Nigeria's recent reforms. Corrupt, mismanaged, and seemingly hopeless: that's how the international community viewed Nigeria in the early 2000s. Then Nigeria implemented a sweeping set of economic and political changes and began to reform the unreformable. This book tells the story of how a dedicated and politically committed team of reformers set out to fix a series of broken institutions, and in the process repositioned Nigeria's economy in ways that helped create a more diversified springboard for steadier long-term growth. The author, Harvard- and MIT-trained economist Ngozi Okonjo-Iweala, currently Nigeria's Coordinating Minister for the Economy and Minister of Finance and formerly Managing Director of the World Bank, played a crucial part in her country's economic reforms. In Nigeria's Debt Management Office, and later as Minister of Finance, she spearheaded negotiations with the Paris Club that led to the wiping out of $30 billion of Nigeria's external debt, 60 percent of which was outright cancellation. Reforming the Unreformable offers an insider's view of those debt negotiations; it also details the fight against corruption and the struggle to implement a series of macroeconomic and structural reforms. This story of development economics in action, written from the front lines of economic reform in Africa, offers a unique perspective on the complex and uncertain global economic environment.
Author | : Tom Forrest |
Publisher | : Routledge |
Total Pages | : 224 |
Release | : 2019-09-11 |
Genre | : Political Science |
ISBN | : 1000307409 |
Since the end of civil war in 1970, Nigeria has struggled to build a stronger federal center and to reduce conflicts that have arisen from uneven development and from ethnic, regional, class and religious differences. This book provides a comprehensive account of the dynamic interplay between the political and economic forces that have shaped gover
Author | : Zainab Usman |
Publisher | : Zed Books |
Total Pages | : 0 |
Release | : 2023-12-28 |
Genre | : Business & Economics |
ISBN | : 1786993953 |
Nigeria has for long been regarded as the poster child for the 'curse' of oil wealth. Yet despite this, Nigeria achieved strong economic growth for over a decade in the 21st century, driven largely by policy reforms in non-oil sectors. This open access book argues that Nigeria's major development challenge is not the 'oil curse', but rather one of achieving economic diversification beyond oil, subsistence agriculture, informal activities, and across its subnational entities. Through analysis drawing on economic data, policy documents, and interviews, Usman argues that Nigeria's challenge of economic diversification is situated within the political setting of an unstable distribution of power among individual, group, and institutional actors. Since the turn of the century, policymaking by successive Nigerian governments has, despite superficial partisan differences, been oriented towards short-term crisis management of macroeconomic stabilization, restoring growth and selective public sector reforms. To diversify Nigeria's economy, this book argues that successive governments must reorient towards a consistent focus on pro-productivity and pro-poor policies, alongside comprehensive civil service and security sector overhaul. These policy priorities, Nigeria's ruling elites are belatedly acknowledging, are crucial to achieving economic transformation; a policy shift that requires a confrontation with the roots of perpetual political crisis, and an attempt to stabilize the balance of power towards equity and inclusion. The eBook editions of this book are available open access under a CC BY-NC-ND 4.0 licence on bloomsburycollections.com. Open access was funded by The Carnegie Endowment for International Peace.
Author | : Clarence J. Bouchat |
Publisher | : Army War College Press |
Total Pages | : 136 |
Release | : 2013 |
Genre | : Business & Economics |
ISBN | : |
The political economy problems of Nigeria, the root cause for ethnic, religious, political and economic strife, can be in part addressed indirectly through focused contributions by the U.S. military, especially if regionally aligned units are more thoroughly employed.
Author | : Michael O. Onolememen |
Publisher | : Routledge |
Total Pages | : 165 |
Release | : 2020-01-22 |
Genre | : Political Science |
ISBN | : 1000026353 |
This book examines the politics and economics of infrastructure development in Nigeria from Independence in 1960 up to 2015, and the role of good governance in promoting the socioeconomic wellbeing of citizens. Arguing for the need for transformational leadership in infrastructure development, the chapters examine policy issues and survey the various administrative, economic, and social-political reforms that have impacted infrastructure development in Nigeria. The author also discusses current national development plans and Vision 20:2020; challenges to infrastructure development, including corruption; and the future potential of a strong infrastructure network for the economy and citizens. Drawing upon his experience within government departments, as well as existing models of leadership and governance, the author explores the role of infrastructure development in promoting the wellbeing and growth of Nigeria. Combining theory with practical examples of good governance, this book will be of interest for students and researchers of political science and infrastructure development in Africa.
Author | : Claude Ake |
Publisher | : Longman Publishing Group |
Total Pages | : 232 |
Release | : 1985 |
Genre | : Business & Economics |
ISBN | : |
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 92 |
Release | : 2018-03-07 |
Genre | : Business & Economics |
ISBN | : 1484345541 |
This Selected Issues paper analyzes mobilization of tax revenues in Nigeria. Low non-oil revenue mobilization is affecting the government’s objectives to expand growth-enhancing expenditure priorities, foster higher growth, and comply with its fiscal rule which limits the federal government deficit to no more than 3 percent of GDP. There is significant revenue potential from structural tax measures. A broad-based and comprehensive tax reform program is needed in the short and medium term to address these objectives and generate sustainable revenue growth by broadening the bases of income and consumption taxes, closing loopholes and leakage created by corporate tax holidays and the widespread use of other associated tax expenditures, as well as creating incentives for the subnational tiers of government to raise their own source revenues.
Author | : Leila L. Frischtak |
Publisher | : World Bank Publications |
Total Pages | : 56 |
Release | : 1994-01-01 |
Genre | : Business & Economics |
ISBN | : 9780821329627 |
The inability to coordinate diverging interests and to promote policies that represent the public interest is one of many non-economic obstacles to economic reform. This paper examines the relationship between governance capacity and economic reform. The