Nigeria - Competitiveness and Growth : Country Economic Memorandum, Volume 2. Main Report
The theme of this report is Nigeria's competitiveness and growth. This report consequently focuses on constraints, opportunities and strategic choices associated with increasing productivity and growth of the Nigerian economy on a sustained ba...
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| Format: | Country Economic Memorandum |
| Language: | English |
| Published: |
Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2007/05/8316777/nigeria-competitiveness-growth-country-economic-memorandum-vol-2-3-main-report http://hdl.handle.net/10986/7824 |
| Summary: | The theme of this report is
Nigeria's competitiveness and growth. This report
consequently focuses on constraints, opportunities and
strategic choices associated with increasing productivity
and growth of the Nigerian economy on a sustained basis. Its
objective is not to present a "blueprint" for
Nigeria's growth but rather to raise issues and provide
some options for the consideration of policy makers and
other Nigerian stakeholders. The report is structured in
four main sections. The first section analyzes
Nigeria's growth history, examines the recent growth
pick up and assesses its sustainability. The second section
analyses how the critical constraints to competitiveness and
growth may be addressed. The third section discusses how
trade -domestic and external - can be used more effectively
to drive growth and poverty reduction. The final chapter
provides policy conclusions and suggestions on what could be
key elements of a growth agenda for Nigeria. The analysis in
this report suggests the following key elements for a growth
strategy for Nigeria: 1) Strengthening actions to tackle the
most immediate constraints to the competitiveness of the
economy presented by infrastructure and the business
environment; 2) Using domestic trade more effectively to
enhance productivity and competitiveness by strengthening
their functioning, and building stronger linkages between
the oil and non-oil sectors, and over time strengthening
Nigeria's integration into global markets; 3) Ensuring
that the poor can participate more fully in growth by
placing urgent emphasis on (i) finding ways to give back
some of the proceeds of oil windfall directly to Nigerians;
(ii) raising agricultural productivity-including through
enhanced technology; and (iii) encouraging the transition
from informality to the formal sector; and 4) Building the
human capital and technological base of the economy over the
longer term. |
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