The Structure and Development of Nigerian Economy Essay

The Structure and Development of Nigerian Economy - evidence ExampleThe current president Umaru YarAdua came to power following a controversial election in 2007.The scrimping of Nigeria has always been dominated by Petroleum accounting for about 25 percentage of gross domestic product. 90 percent of exports consist of petroleum and related products and 70 percent of government revenue comes from Oil. But lately its dependance on oil is set to change due to the constant disturbance in the delta region fashioning oil production difficult. About 65% of the population is engaged in agricultural activities.The Economic restore in Nigeria started in year 2000, but the growth has been very slow throughout the country. Corruption remain pervasive despite progress made by the Economic and Financial Crimes Commission.-The paper aims to examine the overall sparing development in Nigeria after its independence. The paper looks in detail how far the natural resources in Nigeria like petr oleum, oil and splosh sectors has helped the economic development of the country. It will also do an analysis of whether Nigeria depends besides much upon the oil sector which provides 95% of its export earnings, and how this factor has weakened its agricultural potential. What are the study factors that contributed growth of Nigerian miserliness as a self-coloured and what are the driving forces of Nigerian economy What are the underlying weaknesses of Nigeria as a country How corruption in Nigerian governmental agencies has touch on the growth of Nigeria in all spheres. Objectives To evaluate overall economic development in Nigeria for the last 5years (i.e. GDP rates, inflation or deflation, interest rates, movement of cash flow rate of the Unemployment and macroeconomic performance of the whole country). To analyze the growth of the petroleum, oil & gas sector, how far this growth has affected government revenue & economic development of the country. To discuss the trend in unemployment rate within the last 5years and evaluate whether the petroleum & gas sectors has any impact on such trend. Analyze problems in development of the economy due to inadequacy of attention of government in agriculture & rural areas.To evaluate the various initiatives taken by the Nigerian Government to tackle the issues that hampers the economical growth of the country.(Erhiawarien). Work CitedIndex of Economic Freedom 2008. The Heritage Foundation. 2008. 16 Apr. 2008. . Nigeria General Information. MBendi Information for Africa. 23 Aug. 2006. 16 Apr. 2008. .Nigeria Economy. 16 Apr. 2008. .Country briefings Nigeria History in Brief. Economist.com. Business friendly. 15 Nov. 2004. 16 Apr. 2008. .Erhiawarien, Mercy. Masters Dissertation Proposal - Nigerias NEEDS, an Analysis of the NEEDS Policy. 16 Apr. 2008.