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Nigeria

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Full-Text Articles in Growth and Development

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria Dec 1997

Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 1997, Central Bank Of Nigeria

CBN Annual Report

In 1997, Nigeria experienced its third consecutive year of macroeconomic stability, resulting in modest improvement in domestic output growth and a persistently low inflation rate. The balance of payments position showed a modest surplus, and significant success was achieved in reducing domestic liquidity growth. Domestic output expanded further due to increased agricultural output and crude petroleum production, while the inflation rate declined further. Domestic output, measured by the Gross Domestic Product (GDP), increased by 3.8% in 1997, as against the average growth rate of 2.3% in the preceding three years. The fight against inflation was highly successful, reaching a single …

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Keynote Address By V. A. Odozi, V. A. Odozi Dec 1997

Keynote Address By V. A. Odozi, V. A. Odozi

Economic and Financial Review

This is a keynote address by V. A. Odozi at the 5th CBN Executive Policy seminar on reviving Nigeria's non-oil sector for economic development held at Jos, September 2 - 5, 1997.

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Welcome Address By Chief M. O. Onunkwor, M. O. Onunkwor Dec 1997

Welcome Address By Chief M. O. Onunkwor, M. O. Onunkwor

Economic and Financial Review

This is the Welcome Address presented at the 5th Edition of Executiv Policy Seminar being organised by the Research and Personnel Department, Central Bank of Nigeria. The opening ceremony of in-house seminar was themed "Reviving Nigeria's Non-oil sector for Economic Development" for CBN executive staff.

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An Overview Of The Non-Oil Sector Of The Nigerian Economy, D. O. Ajakaiye Dec 1997

An Overview Of The Non-Oil Sector Of The Nigerian Economy, D. O. Ajakaiye

Economic and Financial Review

An overview of the non-oil sector aimed at illuminating the extent to which the economic base has been diversified since the commencement of the SAP should focus on pertinent issues such as the structure and growth of exports, the structure and growth of the production activities. The structure and growth of exports are examined followed by the structure and growth of production activities encompassing structure and growth of value added and final demands as well as the pattern of intersectoral linkages.

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Sources And Management Of External Reserves In Nigeria., Newman C. Oputa Dec 1994

Sources And Management Of External Reserves In Nigeria., Newman C. Oputa

Bullion

Reserves are all those foreign assets of a country held by the monetary authorities which can be mobilized at period of external imbalances with else and certainty. External reserves are held in the form of "earning assets" notably government's foreign security or in the form of "non earning" liquid assets like gold bars in the vault of Central Banks. ln Nigeria the composition of the extremal reserve consists of gold, IMF reserve tranche, Special Drawing Rights (SDRS) and convertible currencies, The major sources of extremal reserves are derivable from the components of foreign exchange inflows which include: receipt from petroleum, …

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Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn Jun 1989

Developments In The Agricultural Sector During The Second Quarter Of 1989, Central Bank Of Nigeria Cbn

Economic and Financial Review

There was a renewed optimism during the quarter that substantial growth in output could occur during the year, if the improvement in weather conditions and production environment was sustained. Available data showed that average monthly rainfall during the quarter was 177.53mm, representing a substantial rise over the 15 .4mm of the preceding quarter (which experienced an unusually prolonged dry spell) and about 18.3 per cent over the level of 150.1mm in the corresponding period of 1988. The distribution pattern showed that all the states of the Federation recorded rains during the quarter.

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The Structural Adjustment Programme: The Journey So Far, A Ahmed Dec 1987

The Structural Adjustment Programme: The Journey So Far, A Ahmed

Economic and Financial Review

The SAP was introduced to achieve the following objectives: (i) To restructure and diversify the productive base of the economy in order to reduce dependence on the oil sector and imports; (ii) to achieve fiscal and balance of payments viability over the period; (iii) to lay the basis for sustainable non-innationary or minimal inOationary growth; (iv) to lessen the dominance of unproductive investment in the public sector, improve the sector's efficiency and intensify the growth potential of the private sector.

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Management Of The Nigerian Economy, E. A. Akatu, E. U. Olisadebe Dec 1987

Management Of The Nigerian Economy, E. A. Akatu, E. U. Olisadebe

Economic and Financial Review

The paper reviews the current economic policy framework against the background of the economic policy regime up to 1985 and observes that the past experience justifies the current experiment with private markets as the principal mechanism for allocating resources. The paper argues that the visible hand of the government does have a supportive role, a lbeit a different one from the past. The new approach is considered as having great potential although ultimate success is as yet beset by various uncertainties as may be expected from any experiment.

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Developments In The Financial System During The First Quarter Of 1987, Central Bank Of Nigeria Cbn Mar 1987

Developments In The Financial System During The First Quarter Of 1987, Central Bank Of Nigeria Cbn

Economic and Financial Review

Money supply as measured by both Ml and M2 declined in the first quarter of 1987 due mainly to declines in net foreign assets and ••other'' assets net of the banking system. Banking system credit, on the other hand increased although at a slower pace than in the last quarter of 1986. While both the money and capital markets remained active during the quarter, the tempo of activities slowed down considerably from the December 1986level.

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Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn Sep 1986

Developments In The Agricultural Sector Of The Economy During The Third Quarter Of 1986, Central Bank Of Nigeria Cbn

Economic and Financial Review

Harvesting of grains and tubers was the dominant activity in the agricultural sector in most parts of the country during the third quarter of 1986. In spite of the lower-than-average amounts of rainfall recorded during the first half of the year, a bumper harvest of maize, rice, yams and cassava was reported

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An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo Jun 1986

An Appraisal Of Public Sector Financing Of Agricultural Development In Africa With Particular Reference To Nigeria, J. O. Osakwe, M. O. Ojo

Economic and Financial Review

The paper discusses, largely using Nigeria as a case study, three sets of issues relating to public sector role in agricultural financing. First, it takes an overview of the agricultural situation in African countries in general and in Nigeria in particular in the last twenty years and suggests the critical factors that should guide government activities for agricultural financing in the light of the general structure of agricultural production. Second, it identifies the types and magnitudes of government assistance in agricultural financing in Nigeria and finally it discusses some of the main problems surrounding the efforts of the government in …

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Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi Jun 1986

Unemployment And Economic Development In Nigeria - Analysis And Policy Implications, E. O. Akinnifesi

Economic and Financial Review

This paper discusses the dynamics of the unemployment problem within the development perspective of a post-independent Nigeria. It is argued that while successive governments seemed to have recognised the problem, the solutions so far adopted have resulted in mere palliatives. Several factors accounting for unemployment have included: colonialism and the white-collar job syndrome, choice of technique in industries, structure of economic organisation, migration patterns, urbanisation, population growth, educational structure, and business cycles. Of the possible consequences of unemployment, the study highlights those having social, health, political and economic dimensions such as stress, suicide, parasuicide, armed robbery, coup d'etats, inflation, etc. …

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A Preliminary Assessment Of The Agricultural Credit Guarantee Scheme In Nigeria, M. O. Ojo, O. O. Akanji Sep 1983

A Preliminary Assessment Of The Agricultural Credit Guarantee Scheme In Nigeria, M. O. Ojo, O. O. Akanji

Economic and Financial Review

The basic objective of this paper was to review the main achievements of the ACGS and analyze the major constraints on its operations during the first five years of its implementation. The paper is organised into four sections. A summary of the objectives of the ACGS is presented in Section l while in Section 11, an analysis of its main achievements between 1978 and 1982 is undertaken. Section III contains a discussion of some of the major constraints on the operations of the Scheme while Section IV concludes the paper.

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Foreign Private Investment In Nigeria 1979-1981, Central Bank Of Nigeria Cbn Sep 1983

Foreign Private Investment In Nigeria 1979-1981, Central Bank Of Nigeria Cbn

Economic and Financial Review

This paper has analysed the results of the survey o f foreign private investment in Nigeria for the period 1979 to 1981. The results show that net inflow o f foreign private investment into Nigeria fell by 12.6 per cent from N331.8 million in 1978 to N289.9 million in 1979. but rose by 61.1 per cent to N467.0 million in 1980 and fell again by 70. 5 per cent to N137.8 million in 1981. The sharp fall in net inflow of foreign private investment in 1981 was due to an outflow of N447. I million in 1981 as against outflows …

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Monetary Development During The First Quarter Of 1983, Central Bank Of Nigeria Cbn Mar 1983

Monetary Development During The First Quarter Of 1983, Central Bank Of Nigeria Cbn

Economic and Financial Review

The main factors responsible for the decline in money supply in the first quarter of 1983 were the decline of Nl,799.0 million or 29.6 per cent in other assets (net) of the banking system ( or an equivalent increase in their other liabilities), a fall of N212.8 million or 19.9 per cent in net foreign assets and an increase of N97 .0 million or 1.4 per cent in quasi-money. The contractionary impacts of these three factors more than offset the expansionary effects of an increase ofNl,391.0 million or 6.3 per cent in bank credit to the economy.

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Recent Developments In Nigeria's Oil Industry And Their Implications For Government Finance, Petroleum Studies Office Research Department Mar 1983

Recent Developments In Nigeria's Oil Industry And Their Implications For Government Finance, Petroleum Studies Office Research Department

Economic and Financial Review

This brief review has focused on the movements of oil prices, production and exports in the 1979-82 period, highlighting the implications of such movements for Federal Government revenue and expenditure.

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Nigeria's External Trade In The First Quarter Of 1966, Central Bank Of Nigeria Cbn Jun 1966

Nigeria's External Trade In The First Quarter Of 1966, Central Bank Of Nigeria Cbn

Economic and Financial Review

The article highlights the achievements of Nigeria's external trade in the first quarter of 1966 which was a result of increase in exports and decline in imports.

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