This 2009 Article IV Consultation highlights that reforms initiated earlier this decade in Nigeria have averted the boom–bust pattern that characterized previous oil price cycles and better prepared the economy to deal with the global financial crisis. Non-oil growth averaged 9 percent from 2004 to 2008. The pace of economic activity has nevertheless slowed in 2009. Executive Directors have welcomed the authorities’ commitment to a strong macroeconomic and financial policy framework that can support an early recovery and lay the basis for the successful implementation of Nigeria’s Vision 2020 development plan.
Nigeria After the Nightmare/I is an in-depth look into the Nigerian experience, explaining what went wrong during the countryOs thirty years of dictatorship. The book describes Nigeria's problems including oil, corruption, and dictatorship, but also provides a way for Nigeria to recover and become a leading democratic state.
His nineteenth-century cousin, paddled ashore by slaves, twisted the arms of tribal chiefs to sign away their territorial rights in the oil-rich Niger Delta. Sixty years later, his grandfather helped craft Nigeria's constitution and negotiate its independence, the first of its kind in Africa. Four decades later, Peter Cunliffe-Jones arrived as a journalist in the capital, Lagos, just as military rule ended, to face the country his family had a hand in shaping.Part family memoir, part history, My Nigeria is a piercing look at the colonial legacy of an emerging power in Africa. Marshalling his deep knowledge of the nation's economic, political, and historic forces, Cunliffe-Jones surveys its colonial past and explains why British rule led to collapse at independence. He also takes an unflinching look at the complicated country today, from email hoaxes and political corruption to the vast natural resources that make it one of the most powerful African nations; from life in Lagos's virtually unknown and exclusive neighborhoods to the violent conflicts between the numerous tribes that make up this populous African nation. As Nigeria celebrates five decades of independence, this is a timely and personal look at a captivating country that has yet to achieve its great potential.
This 2018 Article IV Consultation highlights that the Nigerian economy is exiting recession but remains vulnerable. New foreign exchange measures, rising oil prices, attractive yields on government securities, and a tighter monetary policy have contributed to better foreign exchange availability, increased reserves to a four-year high, and contained inflationary pressures. Economic growth reached 0.8 percent in 2017, driven mainly by recovering oil production. Inflation declined to 15.4 percent year-over-year by end-December, from 18.5 percent at end-2016. Higher oil prices are supporting the near-term projections, but medium-term projections indicate that growth would remain relatively flat, with continuing declines in per capita real GDP under unchanged policies.
Re-Inventing Nigeria presents a political analysis of the country, showing how to make Nigeria’s federation work. It proffers a democratic initiative to keep Nigeria together as one strong united federal republic, while providing a democratic model that other countries with similar multiethnic challenges can emulate. The book focuses on how the Nigerian Federal Project can be restructured to make it more functional and service driven. It begins with a historical review, concluding that the foundations of Nigeria were faulty from the start, with no agreement made towards nationhood by the federating units. Instead, Nigeria’s different ethnic nationalities held themselves in mutual suspicion, even in contempt, before independence. A new form of democratic government, called plebisciterianism, is recommended because of its inbuilt recourse to the plebiscite. This ensures that all nationalities are included in the government at any given time.
Empty pipes and H2O entrepreneurs: boreholes, cart pushers, and "pure water" -- Problem has changed name": electric power and consumer citizenship -- Okadas and danfos: "public transportation" in Nigeria -- "Be what you want to be": cell phones and social inequality -- "They don't know what i have not taught them": the privatization of public schooling -- "Sleeping with one eye open": infrastructural insecurity.
There is no denying that Nigeria, the most populous country in Africa, will play an important role in determining the fate of the black continent. Nevertheless, many people do not stop to consider Nigerias importance, nor do they explore its mysteries, woeful stories, and the spiritual causes of its current problems. You will travel back to the earliest days of humanity to learn about the various ethnic groups that settled in Nigeria, their origins, and the beliefs behind their various religions. Find out how populations were enslaved, how the land was colonized, and how foreign religions affected its people. Through these pages, the mystery of Nigeria will unfold and reveal why Nigeria is at a turning point in its history. You will discover the role of the true believers through the thorough analysis of Nigerias diverse population, history, and culture.
Discover Nigeria, Africa's most populous country, in this thematic encyclopedia that covers everything from geography and economics to etiquette and pop culture. Part of Bloomsbury's Understanding Modern Nations series, this volume takes readers on a tour of contemporary Nigeria, helping them better understand the country and the many cultures, religions, and ethnicities that call it home. Chapters are organized thematically, examining a variety of topics, including geography, history, government, economics, religion, ethnic and social groups, gender, education, language, etiquette, food, literature and the arts, and pop culture. Each chapter begins with an overview essay, followed by a selection of encyclopedic entries that provide a more nuanced look at that facet of modern Nigeria. The main text is supplemented with sidebars that highlight additional high-interest topics. A collection of appendices rounds out the volume, offering short vignettes of daily life in the country, a glossary of key terms, statistical data, and a list of state holidays. Once a pawn of British colonialism, today Nigeria is a sovereign nation and key player on the world stage. Its vast oil resources have made it an international powerhouse and the wealthiest country on the African continent, yet political unrest and corruption, and ethnic and religious violence continue to threaten this prosperity. Nigeria is equally rich culturally, a nation where time-honored traditions mix with contemporary influences. Explore the diversity of modern Nigeria in this concise and accessible volume.
Nigeria, despite being the African country of greatest strategic importance to the U.S., remains poorly understood. John Campbell explains why Nigeria is so important to understand in a world of jihadi extremism, corruption, oil conflict, and communal violence. The revised edition provides updates through the recent presidential election.
Since its independence from Britain in 1960, Nigeria has emerged as Africa's second largest economy and one of the biggest producers of oil in the world. Despite its economic success, however, there are deep divisions among its two hundred and fifty ethnic groups. Centered around three of the dominant themes of Nigeria's post-colonial narrative - ethnicity, democracy and governance, this is an accessible and comprehensive introduction to the history and events that have shaped these three areas. World-renowned expert in Nigerian history, Toyin Falola shows us how the British laid the foundations of modern Nigeria, with colonialism breading competition for resources and power and the widening cleavages between the Hausa-Fulani, Yoruba, and Igbo ethnic groups that had been forced together under British rule, the choice of federalism as a political system, and the religious and political pluralism that have shaped its institutions and practices. Using an examination of the outcomes of this history, manifested in hunger, violence, poverty, human rights violations, threats of secession and corruption, where power and resources are used to reproduce underdevelopment, Falola offers insights and recommendations for the future of policy and the potential for intervention in the country.
