Lessons from International Experience in Designing the Development Bank of Nigeria
Nigeria has recorded robust growth for more than a decade, and its economy has become more diversified with less reliance on oil, although oil revenue remains a critical source of fiscal revenues and foreign exchange. The recent plunge in oil price...
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| Format: | Working Paper |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/365141527009626947/Nigeria-development-finance-study-lessons-from-international-experience-in-designing-the-Development-Bank-of-Nigeria http://hdl.handle.net/10986/30048 |
| Summary: | Nigeria has recorded robust growth for
more than a decade, and its economy has become more
diversified with less reliance on oil, although oil revenue
remains a critical source of fiscal revenues and foreign
exchange. The recent plunge in oil prices demonstrates how
exposed economic growth and the fiscal situation remain to
changes in oil prices. Reducing the impact of volatility in
oil prices will be important in sustaining growth and
thereby reducing the unemployment rate on a sustainable
basis, especially among young people. Micro, small, and
medium-sized enterprises (MSMEs) have a vital role to play
in supporting the further diversification of Nigeria's economy. |
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