Improving Nigeria's Investment Climate for Enhanced Economic Growth

Improving Nigeria's Investment Climate for Enhanced Economic Growth

Author: DR CHRISTOPHER ULUA. KALU

Publisher:

Published: 2019

Total Pages: 17

ISBN-13:

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The slow economic growth rate experienced by most developing countries including Nigeria in the late 1970s and the early 1980s even now manifested itself in the form of macroeconomic imbalances, wide saving-investment disparity, high rate of inflationary spiral, high debt overhang etc. Hence, the study examines improving the Nigerian investment climate for enhanced economic growth. The data was sourced from the Central Bank of Nigeria (CBN) Bulletin and National Bureau of statistics. The level testing results reveal that none of the variables were stationary at its levels. However, the absolute values of the variables in the first-difference is greater than the Mackinnon Critical value as provided by EVIEWS Package, which means that we fail to reject the null hypotheses for the non-stationary series. It was observed that many reasons accounted for the poor economic performance of the Nigerian economy, among is the decline in the investment rates. It is thus recommended that polices that will improve and encourage investment should be institutionalized, stable macroeconomic framework pursued, favorable fiscal regime promoted and the deepening and diversifying the financial sector strengthened to achieve investment objectives.


OECD Investment Policy Reviews: Nigeria 2015

OECD Investment Policy Reviews: Nigeria 2015

Author: OECD

Publisher: OECD Publishing

Published: 2015-05-21

Total Pages: 312

ISBN-13: 9264208402

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This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development.


Doing Business 2020

Doing Business 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2019-11-21

Total Pages: 241

ISBN-13: 1464814414

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Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.


An Assessment of the Investment Climate in Nigeria

An Assessment of the Investment Climate in Nigeria

Author: Weltbank

Publisher:

Published: 2016

Total Pages:

ISBN-13:

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This report presents employment in Nigeria from a worker perspective as well as from a firm perspective. Using recent household data, the report complements the report 'more, and more productive, jobs for Nigeria: a profile of work and workers' (World Bank 2015) and provides an overview of employment opportunities in Nigeria from a labor force perspective. This report also intends to investigate the job agenda from a firm perspective and represents a first attempt to better understand the drivers of economic diversification, firm growth, and employment in Nigeria. The report draws on two different data sources: the General Household Survey (GHS) and the Enterprise Survey. The GHS provides data on the contribution of wage work to the Nigerian economy and its share of total employment. The GHS module on non-farm household enterprise provides information on the dynamics of micro and small enterprises, as well as the constraints they face. The Enterprise Survey, conducted in Nigeria from April 2014 to February 2015, was used to analyze the dynamics and constraints of the formal sector in Nigeria. The survey sample, which was limited to formally established companies with five or more employees, was composed of firms across nineteen states engaged in manufacturing, construction, or retail and wholesale trade. The results are presented in four regional groups: Lagos; Kano and Kaduna states; other southern states (Abia, Abuja, Anambra, Cross River, Enugu, Ogun, and Oyo); and other northern states (Gombe, Jigawa, Katsina, Kebbi, Kwara, Nasarawa, Niger, Sokoto, and Zamfara). A module on innovation was also administered to a portion of the survey sample. Details on the Enterprise Survey are provided in annex two.


An Assessment of the Investment Climate in Nigeria

An Assessment of the Investment Climate in Nigeria

Author: Giuseppe Iarossi

Publisher: World Bank Publications

Published: 2009

Total Pages: 146

ISBN-13:

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This book sheds light on some of the most important policy issues required to put Nigeria on a higher growth path. It highlights the challenges that Nigeria's businesses face today and what government can do to overcome such obstacles.


Low-Carbon Development

Low-Carbon Development

Author: Raffaello Cervigni

Publisher:

Published: 2014-04-10

Total Pages:

ISBN-13: 9781299705647

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The Federal Government of Nigeria has adopted an ambitious strategy to make Nigeria the worlds 20th largest economy by 2020. Sustaining such a pace of growth will entail rapid expansion of the level of activity in key carbon-emitting sectors, such as power, oil and gas, agriculture and transport. In the absence of policies to accompany economic growth with a reduced carbon foot-print, emissions of greenhouse gases could more than double in the next two decades. This study finds that there are several options for Nigeria to achieve the development objectives of vision 20:2020 and beyond, but stabilizing emissions at 2010 levels, and with domestic benefits in the order of 2 percent of GDP. These benefits include cheaper and more diversified electricity sources; more efficient operation of the oil and gas industry; more productive and climate resilient agriculture; and better transport services, resulting in fuel economies, better air quality, and reduced congestion. The study outlines several actions that the Federal Government could undertake to facilitate the transition towards a low carbon economy, including enhanced governance for climate action, integration of climate consideration in the Agriculture Transformation Agenda, promotion of energy efficiency programs, scale-up of low carbon technologies in power generation (such as renewables an combined cycle gas turbines), and enhance vehicle fuel efficiency.


Toward Climate-Resilient Development in Nigeria

Toward Climate-Resilient Development in Nigeria

Author: Raffaello Cervigni

Publisher: World Bank Publications

Published: 2013-08-05

Total Pages: 215

ISBN-13: 0821399241

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If not addressed in time, climate change is expected to exacerbate Nigeria’s current vulnerability to weather swings and limit its ability to achieve and sustain the objectives of Vision 20:2020 [as defined in http://www.npc.gov.ng /home/doc.aspx?mCatID=68253]. The likely impacts include: • A long-term reduction in crop yields of 20–30 percent • Declining productivity of livestock, with adverse consequences on livelihoods • Increase in food imports (up to 40 percent for rice long term) • Worsening prospects for food security, particularly in the north and the southwest • A long-term decline in GDP of up to 4.5 percent The impacts may be worse if the economy diversifies away from agriculture more slowly than Vision 20:2020 anticipates, or if there is too little irrigation to counter the effects of rising temperatures on rain-fed yields. Equally important, investment decisions made on the basis of historical climate may be wrong: projects ignoring climate change might be either under- or over-designed, with losses (in terms of excess capital costs or foregone revenues) of 20–40 percent of initial capital in the case of irrigation or hydropower. Fortunately, there is a range of technological and management options that make sense, both to better handle current climate variability and to build resilience against a harsher climate: • By 2020 sustainable land management practices applied to 1 million hectares can offset most of the expected shorter-term yield decline; gradual extension of these practices to 50 percent of cropland, possibly combined with extra irrigation, can also counter-balance longer-term climate change impacts. • Climate-smart planning and design of irrigation and hydropower can more than halve the risks and related costs of making the wrong investment decision. The Federal Government could consider 10 short-term priority responses to build resilience to both current climate variability and future change through actions to improve climate governance across sectors, research and extension in agriculture, hydro-meteorological systems; integration of climate factors into the design of irrigation and hydropower projects, and mainstreaming climate concerns into priority programs, such as the Agriculture Transformation Agenda.