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Walth Of Nigeria

Introduction

In my assignment I have selected Nigeria as one of the emerging market and from the research that I have done, I will provide the strategies that were engaged to make sure increased welfare particularly via sustained positive real GDP growth exist
Nigeria is the most populous nation in Africa and it accounts almost a quarter of the people of the West Africa.
The population of Nigeria in 2005 was estimated by United Nations at 141, 356, 000 and it is projected to be 158, 313, and 000 in 2010. Nigeria was placed number 10 in 2003 among the nations of the world in population.
Nigeria consist of more than 250 ethnic groups, they differ with customs and languages
Nigeria it is listed together with the Next Eleven economies. The Next Eleven are countries that have been recognised by Goldman Sachs investment bank as countries that have a high possibility of developing into the world’s largest economies along with Brazil, Russia, India and China. Government play a powerful role in solving the scarcity problems of countries. They can improve the economy of the country by being active. When they actively tries to influence the economy of the country that is what economist called economic policy. The government tries to achieve economic objectives through economic policies. There are four kinds of economic policy, fiscal policy, monetary policy, balance of payments and income. In this assignment I discuss the economic policies of Nigeria.



Performance of Economy

Last year in Nigeria the growth slowed in the confrontation of continued turmoil in the oil producing Niger Delta, but medium term economic forecast are supported by high oil prices and prudent macroeconomics policies. In addition to that the GDP growth slowed to 3.2 % and inflation remained 6.7 %.
The National Economic Empowerment and Development Strategy (NEEDS), which is targeted at accelerating economic growth, reducing poverty, and achieving the Millennium Development...