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Nigeria in the Global Economy

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  • Temitope W Oshikoya

Abstract

This paper provides a perspective on Nigeria's global economic position and integration into the world economy. While other emerging market economies have benefited from globalization, there is concern that African countries continue to be marginalized. Among African countries, Nigeria is one of two major countries with strong potential to harness the opportunities and meet the challenges that the global economy could provide. Nigeria has the largest population in the continent and has been growing rapidly, due in part to gains from economic reforms and rising prices of oil. However, Nigeria's integration into the global economy has been below potential. While it has improved its global rankings on indicators of competitiveness, business climate, and productivity in the past five years, it still ranks below most of its peer group on these indicators. It is among the poorest countries in the world in terms of social indicators despite oil wealth. Further integration into the global economy would require sustained policy reforms, improved governance, and public-private investments in social, human, and physical infrastructure.Business Economics (2008) 43, 31–43; doi:10.2145/20080103

Suggested Citation

  • Temitope W Oshikoya, 2008. "Nigeria in the Global Economy," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 43(1), pages 31-43, January.
    • Handle: RePEc:pal:buseco:v:43:y:2008:i:1:p:31-43
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    Cited by:

    1. repec:ilo:ilowps:467212 is not listed on IDEAS
    2. Dhikru Adewale Yagboyaju & Adeoye O. Akinola, 2019. "Nigerian State and the Crisis of Governance: A Critical Exposition," SAGE Open, , vol. 9(3), pages 21582440198, July.
    3. Agu, Ugochukwu. & Evoh, Chijioke J., 2011. "Macroeconomic policy for full and productive and decent employment for all : the case of Nigeria," ILO Working Papers 994672123402676, International Labour Organization.
    4. Horvath, Denis & Sulikova, Veronika & Gazda, Vladimir & Sinicakova, Marianna, 2013. "The distance-based approach to the quantification of the world convergences and imbalances - comparisons across countries and factors," MPRA Paper 45033, University Library of Munich, Germany.

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