The economic puzzle. (Nigeria's potential for growth) (A Survey of Nigeria)

From: The Economist (US) | Date: August 21, 1993 | Copyright information

Nigeria must exploit its plentiful natural gas reserves and abundant cheap labor in order to become an economic growth leader in Africa. The main factors behind Nigeria's sagging economy are a lack of strong fiscal policy and a stifling budget deficit.

NIGERIA'S hopes of becoming an engine for growth in Africa rest on two main assets. One is its energy riches. As well as enough proven reserves to keep pumping out oil at the current rate for 27 years, Nigeria has huge natural-gas ...

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