ECON 261 Lecture Notes - Lecture 21: Boko Haram, Civilian Power, Foreign Direct Investment
Document Summary
Nigeria is considered the most populous country in africa, with a population of about 180 million people. Nigeria has been facing political instability for years. In addition, the lack of infrastructure and corruption held the country back. However, in the last 20 years, nigerian government policies started to change. Now the country has embraced a stable democratic form. For instance, in 2007 (offiong, 2014), nigeria witnessed a peaceful transfer of civilian power followed by general elections. Since then, the country has reformed its market system. Furthermore, the country lowered trade barriers and deregulation. The level of corruption has also decreased in the last 20 years. The government has also taken some significant steps towards improving transportation and infrastructure. Factors held back the flow of fdi into nigeria. Foreign direct investment is being considered as the bridge between poor and rich nations. Fdi promotes economic growth and development for the nations.
