Nigeria Country Economic Memorandum: Charting a New Course: Synthesis Report
Nigeria has vast potential, but development has stagnated over the past decade. The country is characterized by strong spatial inequalities and a large north-south divide. Creating better jobs is a necessary condition for accelerating poverty reduction and economic transformation. A combination of l...
Gespeichert in:
| Körperschaft: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2022
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| Schriftenreihe: | Country Economic Memorandum
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| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | Nigeria has vast potential, but development has stagnated over the past decade. The country is characterized by strong spatial inequalities and a large north-south divide. Creating better jobs is a necessary condition for accelerating poverty reduction and economic transformation. A combination of limited job creation, booming demographics, and unfulfilled aspirations is pushing young Nigerians to emigrate abroad in search of gainful employment. As a result, Nigeria is at a critical historical juncture, with a choice to make. To chart a new and inclusive growth path, Nigeria needs macroeconomic and institutional enablers and investment accelerators. To catalyze private investment and offer more opportunities to the youth, the priority is to restore and preserve macroeconomic stability. To do so, it will be critical to improve the availability of FX, and the predictability and credibility of the exchange rate system to ensure a level playing field across all firms and individuals. While there is no silver bullet to accelerate growth, Nigeria can become a rising growth star again if it implements a comprehensive set of bold reforms in a timely manner. To implement this set of prioritized reforms, the authorities need to walk the talk and shift their focus from the "what" to the "how |
| Beschreibung: | 1 Online-Ressource |
| DOI: | 10.1596/38416 |
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| 520 | 3 | |a Nigeria has vast potential, but development has stagnated over the past decade. The country is characterized by strong spatial inequalities and a large north-south divide. Creating better jobs is a necessary condition for accelerating poverty reduction and economic transformation. A combination of limited job creation, booming demographics, and unfulfilled aspirations is pushing young Nigerians to emigrate abroad in search of gainful employment. As a result, Nigeria is at a critical historical juncture, with a choice to make. To chart a new and inclusive growth path, Nigeria needs macroeconomic and institutional enablers and investment accelerators. To catalyze private investment and offer more opportunities to the youth, the priority is to restore and preserve macroeconomic stability. To do so, it will be critical to improve the availability of FX, and the predictability and credibility of the exchange rate system to ensure a level playing field across all firms and individuals. While there is no silver bullet to accelerate growth, Nigeria can become a rising growth star again if it implements a comprehensive set of bold reforms in a timely manner. To implement this set of prioritized reforms, the authorities need to walk the talk and shift their focus from the "what" to the "how | |
| 650 | 4 | |a Economic Conditions and Volatility | |
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| 650 | 4 | |a Jobs Creation | |
| 650 | 4 | |a Macroeconomics and Economic Growth | |
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| index_date | 2024-07-03T22:27:55Z |
| indexdate | 2024-10-12T04:02:46Z |
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| language | English |
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| publisher | The World Bank |
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| series2 | Country Economic Memorandum |
| spellingShingle | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report Economic Conditions and Volatility Jobs Jobs Creation Macroeconomics and Economic Growth |
| title | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_auth | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_exact_search | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_exact_search_txtP | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_full | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_fullStr | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_full_unstemmed | Nigeria Country Economic Memorandum Charting a New Course: Synthesis Report |
| title_short | Nigeria Country Economic Memorandum |
| title_sort | nigeria country economic memorandum charting a new course synthesis report |
| title_sub | Charting a New Course: Synthesis Report |
| topic | Economic Conditions and Volatility Jobs Jobs Creation Macroeconomics and Economic Growth |
| topic_facet | Economic Conditions and Volatility Jobs Jobs Creation Macroeconomics and Economic Growth |
| url | https://doi.org/10.1596/38416 |
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