A Crawling Economy in Need of Stimulus thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Economy
The Nigerian economy is in a peculiar mess. Bad macroeconomic and microeconomic policies, a blasé attitude to national inclusiveness and an expansive lack of confidence in the economy and local currency have all coalesced to drive the economy into the ‘valley of the shadow of death’. But there is a way out, if only the government is really desirous of doing the right things for the economy and the people. Nosa James-Igbinadolor looks at the recent diagnosis and prognoses of the Presidential Economic Advisory Council on the timorous economic situation in the country, and the way out of the economic Golgotha
As Buhari Leads Nigeria into Second Debt Trap… thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
The International Monetary Fund says that it expects Nigeriaâs economy to grow by a very modest 2.5 per cent this year. Against the backdrop of many social, political and economic ills belabouring the country, as well as the persistent lack of growth over the past five years, Nosa James-Igbinadolor wonders if this projection can be met
In a report released last week, the International Monetary Fund (IMF), raised Nigeriaâs growth forecast for 2021 to 2.5 percent from 1.5 per cent earlier announced in January.
The diffidently hopeful projections from the global financial institution comes against the backdrop of negative economic growth, contractions, depression and recession that have scarred the Nigerian economy over the past five years.
Corruption is systemic and cultural in Nigeria, and it has been said to be the single greatest obstacle preventing Nigeria from achieving its enormous potential. Yet it is a global issue that transcends national boundaries. Governments of virtually all countries are trying to eliminate it, either sincerely or at least nominally. In fighting corruption, Nigerian governments have made an idol out of it by blaming if for their inability to do what they promised to do when they campaigned for office. Nosa James-Igbinadolor proposes the case against corruption as the âdeityâ responsible for Nigeriaâs underdevelopment
Economic growth is the single most important factor influencing poverty. According to the IMF, abundant statistical studies have found âa strong association between national per capita income and national poverty indicators, using both income and non-income measures of povertyâ.