Economic Policy

Download Economic Policy Options for a Prosperous Nigeria by Paul Collier, Catherine Pattillo, Charles C. Soludo PDF

By Paul Collier, Catherine Pattillo, Charles C. Soludo

This e-book demonstrates that there's adequate proof at the Nigerian financial system and society to notify many coverage concerns, and divulges the present difficulties and coverage suggestions democratic Nigeria might want to debate and get to the bottom of. It offers an schedule of reform as unfinished enterprise.

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However, even the largest firms are very small by international standards. 3 The binding constraints to growth in Nigeria There are several factors in the still low productivity and efficiency of the Nigerian economy. Several of the ongoing reforms are trying to redress these factors but they cannot, and fortunately need not, all be addressed at the same time. Prioritizing and sequencing action is important to ensure that Nigeria’s reform effort is focused and uses limited government capacity and political capital judiciously to achieve the biggest impact on growth.

Introduction 9 analyses of these data have made important methodological and conceptual errors that have produced misleading results. They find that poverty is deep and pervasive, and far higher than indicated in the studies from previous decades. By contrast, inequality seems to be little changed from twenty years ago. Hence, the widespread perceptions that poverty is coming down but inequality is rising do not find support in the national household data. While education has strong effects on the earnings of wage earners, since this is a relatively small proportion of the population, education does not have major effects on lowering overall poverty.

Other businesses in the food and beverage sector – mainly multinationals such as Nestlé, Cadbury, Heineken – appear to achieve good returns and are expanding their investments while the bulk of firms are less successful. 34 per cent for firms quoted on the Nigerian stock exchange. However, only 203 firms are registered on the stock exchange and the market capitalization is less than half of GDP, indicating again that this result is not necessarily widespread across the economy. For the rest of the non-oil sector, particularly agriculture and the large informal economy, returns are low, evidenced in low levels of productivity and high levels of unused capacity in manufacturing.

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