Economic Reforms and Modernization in Nigeria, 1945-1965
Economic Reforms and Modernization in Nigeria, 1945-1965

Author: Toyin Falola

Publisher: Kent State University Press

Published: 2004

Total Pages: 294

ISBN-13: 9780873388016

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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.

Nigeria's Economic Reforms
Nigeria's Economic Reforms

Author: Ngozi Okonjo-Iweala

Publisher:

Published: 2007-06-01

Total Pages: 28

ISBN-13: 9780979037658

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"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.

Reforming the Unreformable
Reforming the Unreformable

Author: Ngozi Okonjo-Iweala

Publisher: MIT Press

Published: 2014-08-29

Total Pages: 211

ISBN-13: 0262526875

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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.

Economic Diversification in Nigeria
Economic Diversification in Nigeria

Author: Zainab Usman

Publisher: Zed Books

Published: 2023-12-28

Total Pages: 0

ISBN-13: 1786993953

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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.

Economic Reforms and Nigeria's Political Crisis
Economic Reforms and Nigeria's Political Crisis

Author: Rose Umoren

Publisher:

Published: 2001

Total Pages: 244

ISBN-13:

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The central thesis of this book challenges the view that Nigeria's economic and politcal crises are functions of a self-imposed paralytic political framework; rather they stem from unfavourably fashioned economic reforms. By extension, the military quashing of the 1998 elections was not the cause, but the trigger of the ensuing political crisis, which was rooted in externally imposed economic strategies. This is supported by a review of official data from the World Bank, and the IMF's interventions and structural adjustment during the period. The conclusions are intended to inform policy-makers and professionals in the search for more focused economic strategies. Futher, the findings can be extrapolated to better inform other structurally adjusted African countries.