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Posts Tagged ‘economy’

If there are security problems in Nigeria, not a businessman, to explore the land of opportunity, companies such as Celtel, MTN, Etisalat, not safety-risk countries have had the courage to do business. Those who say the voices on security issues and corruption in Nigeria is different from making money to stop the spread in the country. The numbers do not lie. You are the greatest testimony of how the environment, the economy and the opportunities are in Nigeria. If you want to do business in Africa and make a good return on investment, we invite you to come to Nigeria. The political environment in Africa, especially Nigeria is enormous.

Dr. Hamadoun Toure, Secretary General International Telecommunication Union, Quoted by the newspaper Punch, May 13, 2008) What is happening with the Nigerian financial system is far from being in some way affected by the global credit crisis. Worldwide, banks are adequately capitalized at the time, but the Nigerian banks are better capitalized. And I do not think this is a problem. I believe that the Nigerian banks in Africa under the pressure of the other economies of the continent, that the credit crisis are being felt.
- Gordon Smith Head of Research, Africa and the Middle East, International Council for the
(Published in the magazine Punch, June 30, 2008). The right to connote the above two interpretations of the situation of the Nigerian economy. This agreement shows that the economy is one of the fastest growing economies in Africa and the world. Although Nigeria, the economic history of the hash that has suffered and is still in economic reforms in Nigeria, the finance in Africa and one of the twenty largest economies in the world until 2020. Needless to say that the country has experienced political instability, corruption and poor macroeconomic management in the past, this was the unpleasant and difficult economic conditions.

Place the government’s commitment to the economy have resulted in significant new relentless economic growth and development. Several mechanisms have been established for the growth and development, capable of weighing the interests of the parties to reach consensus. Perhaps this view is Gordon Smith must have influenced the presentation. He described Nigeria as the most dynamic market in Africa, under strong pressure from some countries in Africa, is to act as a buffer against the effects of global turbulence. He also noted that some countries such as Ghana, Malawi, Mauritius, were carried out, among other things on their ever at the time because of the risk and the general economy, banks consolidated, was far from being affected global credit crisis currently rocking the global financial markets giants. He also stressed that foreign investors will be patient enough for the financial system in Nigeria to weigh in terms of credit risk in relation to events in the world to invest in the country’s financial sector more attractive and raise capital.

Faced with numerous challenges, the Government of Nigeria to strengthen, diversify and make the economy more attractive and favorable investment climate for local and foreign investors. The government has a total liberalization and globalization of economic policy, privatization programs started and commercialization of public enterprises, provided that assumes complete security for companies and individuals, inviting domestic and foreign investors, laws, competitive inhibition abolished the policy embraced and rapid implementation to ensure the growth and development of all sectors of the economy. The effort is already bearing fruit, such as Nigeria today is the emphasis on foreign investment, increasing exponentially foreign direct investment (FDI). Attended dozens of trade missions and delegations from developed countries and developing countries, Nigeria and boost economic growth at a rapid rate. It is appropriate, during the debate on the second understanding of the above statements