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In July 1986, the structural adjustment program was established under several conditions: First, reduce Nigeria's dependence on the oil sector. [4] Second, maintain a medium term balance of payment. [4] Third, construct a minimal non-inflationary economic growth structure. [4] And lastly, aim to reduce unproductive investments. [4]
The three Pillars of the NV 20:2020 are i) guaranteeing the well-being and productivity of the people, ii) optimizing the key sources of economic growth and iii) fostering sustainable social and economic development. NV 20:2020 is Nigeria's second attempt at driving the attainment of her national aspirations using long-term perspective plan.
The country is also well connected to international financial markets and following the 2016–17 oil crisis, the country has seen an increasing influx of foreign capital over the past 12–18 months – capital importation in Nigeria jumped to US$6.3 billion in Q1–18 (594% yoy growth) vs. $12.3 billion for full year 2017 and $5.1 billion in ...
The annual Nigerian Economic Summit (NES) is organised in collaboration with the Federal Ministry of Budget and National Planning. The Summit is a yearly gathering of high-level public and private sector leaders in Abuja, the nation’s capital, for dialogue on Nigeria’s economic management.
The Nigerian Capital Development Fund (NCDF) is an organization dedicated to impact investing and promoting economic development in Nigeria. Established with the aim of fostering a resilient entrepreneurial ecosystem, NCDF provides essential support, capital, and resources to entrepreneurs, start-ups, and early-stage businesses.
The national debt of Nigeria has implications for the country's economic and social development, as well as its relations with other countries and international organizations. [4] The management of the national debt is the responsibility of the Debt Management Office (DMO), which was established in 2000 as an autonomous agency under the ...
In June 2016 the World Bank Group approved a $500 million International Development Association credit to support the establishment of programs targeted at economic development in Nigeria. The Nigerian Government provided an additional $1.3 billion from its budget to create the social safety net programs which came to be known as the National ...
In the development of economic theory, the distribution of income was considered to be between labor and the owners of land and capital. [44] In recent decades there have been several Asian countries with high rates of economic growth driven by capital investment. [45] The work week declined considerably over the 19th century.