Impact Of Economic Liberalisation On Livelihoods

Kingsley Moghalu author of Emerging Africa: How the Global Economy's Last Frontier Can Prosper argues that the African economic can be transformed once there is a paradigm shift. which includes African countries creating complex products, the development of a stronger intuition, the use of propaganda and development of central banks. He believes that African countries can gain wealth and prosperity once these paradigm shifts are applied.

Nigeria has become the fastest growing country in Africa, its coastal ports are the heart and soul of its economy. Since its creation by the British Empire, there has been a civil breakdown and conflict among its tribal leaders. However, their religious understanding between Islam and Christianity has kept them at peace amidst themselves throughout time. The last few years, the government has developed itself into a functioning federation, the people are able to notice how outside influence has improved their daily lives.

This essay seeks to critically analyze the statement that “Economic liberalism is a prerequisite for economic development in development economies.” This paper will begin by outlining the concept of economic liberalization and its effect on the development agenda for Zambia. An analysis of these experiences is then made in order to derive lessons regarding the linkage between economic liberalization and economic development. It will then draw the pros and cons; positives and negatives effects of economic liberalism in the Zambian economy and will finally conclude by establishing the way forward for developing

The Nigerian economy has quite the surplus of natural resources they offer the potential for economic growth. “Crude oil accounted for over 95% of exports and over 65% of government revenue in 2004;” Nigeria is number eight in the world's exporter for oil. But agriculture still is a big part in the basic economic activity for the Nigerians.

Liberalization, as explained by examples above, does not solve a country’s economic problems, it can even exacerbate them. In fact, “a sound overall development strategy that produces high economic growth is far more effective in achieving integration with the world economy than a purely integrationist strategy that relies on openness to work its magic” (Rodrik 2001: 59)

Nigeria is an Agricultural and oil rich nation but characterised by Political instability, corruption, poor

What kind of liberalization could deliver of the benefits of access to the opportunities of the global marketplace whilst maintaining the domestic foundations for economic growth and stability? (main proposition of the author)

Economic diversification holds the key to the emergence of a robust Economy that is capable of creating jobs and reducing poverty and unemployment. President Buhari’s administration needs to articulate and implement an economic blueprint for the diversification of the Nigerian economy, leveraging sectors such as agriculture, manufacturing, hospitality, tourism and ICT to boost productive activities and revenue

Privatization is not a complete strange term to Africa. It became a central element of economic reforms in most countries in Sub-Saharan Africa during the 1990s. In the past few decades, several incentives were taking towards involving the private sector in almost every field. Between 1991

During 2003-2007, Nigeria attempted to implement an Economic Empowerment Development Strategy (NEEDS). The purpose of NEEDS is to raise the country’s standard of living through a variety of reforms, including macroeconomic stability, deregulation,

Economic liberalization is the openness of free trade, privatization of public services, and minimal regulations over markets. Economic growth is the increase in GDP from the markets. The two terms connect together for the UAE due to the economic growth allowing economic liberalization to flourish in the region to keep up with the modernity occurring. With economic growth increasing rapidly, the UAE has felt it necessary to liberalize its economy in order to diversify its region and allow for more opportunities domestically and internationally. In the United Arab Emirates, economic liberalization would mean that

The production and export data for this work was retrieved from the Nigerian National Petroleum Corporation (NNPC) database, the regulating body for the Oil and Gas industry, beginning from Q1, 2005, to Q4, 2013. I also collected crude oil prices from the British Petroleum website. Although the Amnesty Program led to a significant increase in oil production, it does not necessarily suggest it is the best policy that could have been adopted due to its challenges. Introduction The Niger Delta region, the Nigeria crude oil base, had witnessed numerous protests at various times by its citizens over resource wealth and control.

(2011) to discuss the political economy of the Nigeria petroleum sector. These functions are clearly described in chapter four of this work.

Currency devaluation and fuel subsidy removal are policies that are phenomena to the Nigerian economic environment. This research study identifies that the implementation of the policies has further caused more challenges in the pursuit for economic development than remedy to alleviate the crisis.

THE ROLE OF SMALL SCALE INDUSTRY IN NATIONAL DEVELOPMENT IN NIGERIA Ayozie Daniel Ogechukwu, Delta State University, Abraka, Delta State, Nigeria, The Federal Polytechnic, Ogun State, Nigeria Abstract A business whether small or big, simple of complex, private or public is created to provide competitive prices. Business in Nigeria has been classified as small, medium and large. In both the developed and developing countries, the government is turning to small and medium scale industries, as a means of economic development and a veritable means of solving problems. It is also a seedbed of innovations, inventions and employment. Presently in Nigeria, SMEs assist in promoting the growth of the country’s economy, hence all the levels of