OF STUDY Nigeria, the most populous black nation in western Africa is popularly known for her dominant source of revenue, crude oil with oil revenue as the main stay of the Nigerian economy, volatility in the price of oil are to a large extent of prime interest to economist. According to Adeniyi et al (2004), exchange rate appreciate in response to rising oil prices and depreciates in response to falling oil prices in oil producing exporting countries while the reverse is the case in oil importing
fact that Nigeria embarked on the devaluation of the naira and adopted the Structural Adjustment Program (SAP) in 1986 the goal was not realised. The failure to realise this goal subjected the Nigerian manufacturing as well as other sectors to the challenges of a constantly fluctuating exchange rate. A fluctuating exchange rate may not augur well with a country’s growth; manufacturers tend to postpone job creation due to the uncertainty brought about by the volatility of exchange rate. It is argued
implications of crude oil spills in the Niger delta, Nigeria. Abstract Acronyms List of figures Table of Contents 0 Introduction Nigeria owes its economic development to the availability of oil in the Niger Delta region. Oil exploration in the Niger Delta region started in the mid-1950s. The Niger Delta is estimated to be having trillion of cubic feet of natural gasses and billions of barrels of crude oil. Nigeria earns a large sum of foreign exchange from selling of crude oil that contributes
Topics: Critical Success Factors of Micro & Small Enterprises 1 Introduction This paper examines the Critical Success factors (CSF) of Micro & Small Enterprises in Nigeria. The specific objectives of the paper are to provide understanding of Critical Success factors (CSF), Identify and discuss the critical success factors in SMEs in Nigeria. 2 Critical Success Factors (CSFs) Defined Although initially used in the world of data analysis and business analysis, Critical Success Factors (CSF’s) are the
ANALYSIS OF THE TRENDS AND BEHAVIOURAL PATTERN OF THE NIARA EXCHANGE RATE AND FOREIGN DIRECT INVESTMENT IN NIGERIA Nigeria has a great potential for attracting foreign investment. It has a large market, represented by a large vital population and it is richly endowed with natural resources mineral deposits especially oil and gas, vegetation, arable agricultural land etc. she also has cheap labor force. Available statistics show that the country has not benefited much from foreign investment flows
Inflation is the persistent increase in general price level. Inflation has become a leading topic of discussion in Nigeria families, press and government as its effects penetrate more deeply into nation’s life due to prevailing increase in prices. Depending on which side of an individual transaction, his welfare is affected by a change in one or more prices. Therefore, inflation must be well guided by the monetary authority of the country in order to raise the standard of living. The fact that increases
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Nigeria has been suffering the negative environmental consequences of oil development since oil was discovered in Nigeria (Badejo and Nwilo 2008). The growth of the country’s petroleum industry combined with an increasing growth rate in human population and a lack of enforcement of environmental regulations and commitment on the part of government has led to substantial
Most African countries are rich in natural resources (crude oil); they produce natural resources but they do not know how to process it. Nigeria and other oil producing countries do not know what they have, but when it is gone they would realized they have been cowering and not facing the system head on. Environmentalist believes that crude oil is a non renewable resource, it will surely get exhausted one day, and at such where would you be and where
The Niger Delta – the geographical heart of oil production in Nigeria has been a breeding ground for militants and ‚impoverished ethnic groups‛ for some years now. This is because the discovery of oil and its exploitation has ushered in a miserable, undisciplined, decrepit, and corrupt form of ‘petro-capitalism’ which produces conflict accelerating factors. Devastated by the ecological costs of oil spillage and the highest gas flaring rates in the world, the Niger Delta has become a centre of violence
season which means a lot of agriculture is not happening, so down the line that will create food shortages and pressures on food prices. We are starting to see a rise in inflation and pressure on the national currency as well as a shortage of foreign exchange”. It also has a big impact on the mining sector: The world's largest steelmaker ArcelorMittal has seen work disrupted on its iron ore mine expansion project in Yekepa in Liberia, after contractors declared "force majeure" and moved people out of