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NIGERIA: ECONOMIC POLICY OF THE GOVERNMENT OFMUHAMMADU BUHARI (2015 - PRESENT)
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NIGERIA: ECONOMIC POLICY OF THE GOVERNMENT OFMUHAMMADU BUHARI (2015 - PRESENT)
Annotation
PII
S0321-50750000574-7-1
Publication type
Article
Status
Published
Authors
Nina Gavrilova 
ORCID: 0000-0003-0176-7804
Edition
Issue №5
Pages
40-45
Abstract
In 2000s-2010s, several plans and programs aimed at developing and reforming the economy were adopted in one of Africa's largest countries - Nigeria. The author focuses on the new program of economic development of Nigeria, which was introduced in 2016 by the government of Muhammadu Buhari, who had come to power in 2015. The article examines the main goals of the Economic Recovery and Growth Plan (ERGP) and the opportunities for reaching them; an attempt is made to identify the positive and negative aspects of Nigeria's new economic development program and assess the prospects for implementing the ERGP on time. ERGP is aimed at accelerating economic diversification and priority development of such industries as agriculture, infrastructure, mining and energy sector. The ERGP proposes to create about 1.5 million new jobs by 2020, facilitate export growth, stimulate the growth and modernization of micro, small and medium enterprises through the introduction of technological innovations and the use of information and communication technologies. However, the country lacks employment expansion programs and plans to implement and monitor the implementation of this part of the ERGP. Apparently, it is assumed that economic development supported by other initiatives will naturally lead to an increase in the number of jobs, but this assumption is not based on any calculations, and therefore this item of the ERGP cannot be considered as feasible. Nonetheless, the ERGP provides significant investment opportunities for local and foreign investors, which is extremely important for the recovery of the Nigerian economy, which is currently undergoing a recession. The author concludes that it is impossible to implement all items of the plan within the specified time. It is pointed out, however, that if the plan is implemented at least partially, it will have a huge positive impact on almost all sectors of the Nigerian economy.
Keywords
Liberia, George Weah, Ellen Johnson Sirleaf, Charles Taylor, civil war
Date of publication
01.05.2018
Number of purchasers
8
Views
1235
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0.0 (0 votes)
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