Munich Personal RePEc Archive

Nigerian economy: business, governance and investment in period of crisis

Ibrahim Abdullahi, Shafiu (2018): Nigerian economy: business, governance and investment in period of crisis. Forthcoming in:

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Abstract

Nigerian economy is very sensitive to happenings in the global crude oil market due to Nigeria dependence on the black gold. The recession Nigeria found herself in 2016 was mainly caused by the fall in the international price of crude oil. It is the same factor that also help to explain Buhari government massive borrowings to help close the gap in government budget since coming to power in 2015. In the years since independence, Nigerian economy has changed from its largely agrarian state of 1960s to an import depended mono-economy. Nigeria single most important export for more than forty years has remain crude oil. But, in the period since independence various economic models have been tested, as many as there were changes in governments. While the adaptation of some of these economic programs were domestically inspired, others were forced on Nigeria from the outside. The book provides a comprehensive account of Nigerian economy, taking into consideration the changes that have taken place in the last one decade.

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