Nigerian Economy: Macroeconomic Analysis

Nigeria is Africa’s most populous country, and it’s the 9th most populous country in the world, with an estimated 150 million people. Lately the country has had a huge amount of explosive population growth due to its high fertility rate. It

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

The growth rate of Nigeria remained low in the late 90’s through the early 2000’s. In 2003, it climbed to over Ten percent and in 2004 soared to almost Thirty-Four percent. Since that time, it has relatively stabilized and currently stands at 4.18% with an annual growth rate of 6.54%. One of the fastest growing segments is Information and Communication, which account for about 10 percent of the total output. The country’s inflation rate has declined recently after a period of increases and currently stands at 8.3 % (TRADING ECONOMICS, 2014).

Economy of many nations is currently at distress due to current plunge of oil price the international market. This sink in crude oil price produces an economic shock especially to the poor and developing Countries that depend on crude oil revenues to balance their budgets (Iwayemi, & Fowowe, 2011; also see Effiong, 2014). Nigeria, being one of those nations, is currently experiencing economic crisis. For instance, many states in the federation presently can no longer pay their employees’ salaries or provide basic services to their citizens. They are borrowing money or requesting for bailout from the Federal government to fulfill their obligations to their people. The shocking effects of this oil price drop extended

The largest petroleum-producing nation in Africa is Nigeria. The petroleum company is the main contributing factor of the GDP in the West African nation, which is also the continents, most noticeable and populous reserves. Since Nigeria was under British control it has suffered socio-economic and political adversities for decades. Corrupt domestic militias and complicity of multinational corporations have rid the nation of its natural resources. The same corporations that are ridding the land and exploring the resources have hypocritically identified Nigeria as a major concern with regard to human rights and environmental degradation. The petroleum business in Nigeria dynamically impacts its economy so much that “oil and gas exports

Nigeria is largely a net importer of rice, tin tomato and fertilizer; while it majorly exports cocoa and cotton. Nigeria is the 4th largest exporter of cocoa with about 300,000 metric ton traded in year 2015. In order to stimulate agricultural production both for local consumption and international trade, the government has often been involved directly in fertilizer importation which is a major

In April 2014 statistical "rebasing" exercise, Nigeria has emerged as Africa 's largest economy, with 2015 GDP estimated at $1.1 trillion. Oil has been a dominant source of income and government revenues since the 1970s. Following the 2008-9 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. Nigeria’s economic growth over the last five years has been driven by growth in agriculture, telecommunications, and services. In this paper I will be trying to marketing some of things in Nigeria that might have people interested in getting their hands on or even coming to Nigeria to see. For instance I will give you why some people

After successful deliberations on the subject matter by the participants, the forum observed that lack of patronage to Made in Nigeria Products was the root cause of the wide spread unemployment, poverty and economic crises in Nigeria; that the abundant human and material resources in Nigeria are grossly

Studies based on Nigerian data whose findings have positive relationship to economic growth are: Obadan (2000); Asanebi (2007); Onayemi and Ishola (2000); Ogbonna (2010); Ozoudo (2010); Opara (2010); Nwachukwu (2014) in all their finding they all used the Ordinal Least Squares (OLS); but had some weaknesses in their studies and were unable to correct for time series properties like cointegration test. Also Udoh (2012); Onodugo (2013); Usman (2010); Employed the

According to the World Bank's report "Doing Business in 2007 - How to Reform", Nigeria’s reforms

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 Nigerian banking industry is one of the most dynamic and competitive industries in the Country. The banking industry has transformed rapidly in the last ten years, shifting from transactional and customer service-oriented to an increasingly aggressive environment in which competition for revenue is top priority.

The potentials of capital market in Nigeria as a catalyst to economic and industrial development cannot be over emphasized. The capital market as an internal part of a country’s financial system operates at the long end of the system to mobilize resources for long term development and growth. Basically, the capital market accelerates growth by providing ,relatively long term capital - debt and equity finance – for government and corporate sector.

The area of study o this research work is to determine the effect of monetary policy on the performance of banks in Nigeria. This study will cover all the commercial banks that have been in existence since 1975-2004. More so, the aggregates rate is used in assessing their performance.

By B. B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC ABSTRACT Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy, this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era. The paper notes that the banking industry in Nigeria witnessed a remarkable growth in terms of deposit base, number of branches, total asset and volume of loans and advances, especially since the de-regulation of the financial services sector in the last quarter of 1986. However,