World Bank2012-06-122012-06-122007-05https://hdl.handle.net/10986/7825The theme of this report is Nigeria's competitiveness and growth. This report consequently focuses on constraints, opportunities and strategic choices associated with increasing productivity and growth of the Nigerian economy on a sustained basis. Its objective is not to present a "blueprint" for Nigeria's growth but rather to raise issues and provide some options for the consideration of policy makers and other Nigerian stakeholders. The report is structured in four main sections. The first section analyzes Nigeria's growth history, examines the recent growth pick up and assesses its sustainability. The second section analyses how the critical constraints to competitiveness and growth may be addressed. The third section discusses how trade -domestic and external - can be used more effectively to drive growth and poverty reduction. The final chapter provides policy conclusions and suggestions on what could be key elements of a growth agenda for Nigeria. The analysis in this report suggests the following key elements for a growth strategy for Nigeria: 1) Strengthening actions to tackle the most immediate constraints to the competitiveness of the economy presented by infrastructure and the business environment; 2) Using domestic trade more effectively to enhance productivity and competitiveness by strengthening their functioning, and building stronger linkages between the oil and non-oil sectors, and over time strengthening Nigeria's integration into global markets; 3) Ensuring that the poor can participate more fully in growth by placing urgent emphasis on (i) finding ways to give back some of the proceeds of oil windfall directly to Nigerians; (ii) raising agricultural productivity-including through enhanced technology; and (iii) encouraging the transition from informality to the formal sector; and 4) Building the human capital and technological base of the economy over the longer term.CC BY 3.0 IGOACCOUNTABILITYACCOUNTANTACCOUNTINGAGRICULTUREARREARSASSET POSITIONASSETSAUDITSBANKING SECTORBENCHMARKBENCHMARKINGBENEFICIARYBIDBIDSBONDBORROWINGBUDGET CLASSIFICATIONBUDGET CLASSIFICATION SYSTEMBUDGET CONSTRAINTBUDGET FORMULATIONBUDGET PROPOSALSBUDGET REFORMSBUDGET SURPLUSESBUSINESS CLIMATEBUSINESS DEVELOPMENTBUYERSCALCULATIONSCAPACITY BUILDINGCAPITAL BASECAPITAL EXPENDITURECAPITAL FORMATIONCAPITAL INVESTMENTCAPITAL MARKETSCAPITAL STOCKCASH MANAGEMENTCENTRAL BANKCIVIL SERVICECIVIL SERVICE REFORMSCOMMERCIAL BANKSCOMMODITIESCOMMUNITY ORGANIZATIONSCOMPETITIVENESSCONSTANT PRICESCONSUMERSCONTRIBUTIONCONTRIBUTIONSCOST RECOVERYCREDIT GUARANTEECREDIT RATIONINGCREDITSCROP LOSSESCURRENT EXPENDITURECUSTOMER SERVICEDEBT ACCUMULATIONDEBT CRISISDEBT OVERHANGDEBT RATIODEBT RELIEFDEBT SUSTAINABILITYDEFICIT FINANCINGDEFICITSDEMAND-SIDE FACTORSDEPRECIATIONDEREGULATIONDERIVATIVESDEVELOPING COUNTRIESDEVELOPMENT POLICIESDEVELOPMENT STRATEGIESDIMINISHING RETURNSDISBURSEMENTSDOMESTIC DEBTDOMESTIC INFLATIONDOMESTIC MARKETECONOMETRICSECONOMIC COSTSECONOMIC MANAGEMENTECONOMIC OUTLOOKECONOMIC RATE OF RETURNECONOMIC RECESSIONENABLING ENVIRONMENTEQUIPMENTEXCHANGE RATEEXPENDITUREEXPORT PERFORMANCEEXPORTEREXPORTERSEXPORTSEXTENSION SERVICEEXTENSION SERVICESEXTENSION SYSTEMEXTERNAL DEBTFINANCIAL FLOWSFINANCIAL INSTITUTIONSFINANCIAL RESOURCESFINANCIAL SUSTAINABILITYFISCAL ASSUMPTIONSFISCAL DEFICITFISCAL MANAGEMENTFISCAL PERFORMANCEFISCAL POLICYFISCAL STRATEGYFISCAL SUSTAINABILITYFIXED CAPITALFORECASTSFOREIGN CURRENCYFOREIGN EXCHANGEFOREIGN MARKETFUND ASSETSGDPGDP DEFLATORGOVERNMENT BUDGETGOVERNMENT EXPENDITUREGOVERNMENT EXPENDITURE POLICYGOVERNMENT INTERVENTIONSGOVERNMENT SPENDINGGOVERNMENT SUPPORTGROSS FIXED CAPITAL FORMATIONGROWTH RATEHOLDINGHUMAN CAPITALHUMAN RESOURCEINCOMEINCOME FLOWINCOME FLOWSINCOME STREAMINDUSTRIALIZATIONINEFFICIENCYINFLATIONINFLATION RATEINFORMATION SYSTEMINITIAL CAPITALINSURANCEINSURANCE SCHEMEINTELLECTUAL PROPERTYINTEREST RATEINTEREST RATE FLEXIBILITYINTERNATIONAL PRICESINTERNATIONAL STANDARDSINTERPOLATIONINVENTORYJOB CREATIONLABOR FORCELABOR MARKETSLEGAL FRAMEWORKLIQUIDITYLOCAL CURRENCYLOCAL GOVERNMENTLOW-INCOMEMACROECONOMIC POLICIESMACROECONOMIC STABILITYMARKET ACCESSMARKET DEVELOPMENTMARKET FOR GOVERNMENT DEBTMARKETINGMERGERSMINIMUM CAPITAL REQUIREMENTSMINISTRY OF FINANCEMONOPOLYNATURAL RESOURCESNET ASSETNET ASSETSNET DEBTOIL PRICEOIL PRICESOTHER ASSETSPENSIONPENSION SYSTEMPERMANENT INCOMEPOLICY RESPONSEPOSITIVE COEFFICIENTPOVERTY FUNDPOVERTY REDUCTIONPRICE SUPPORTPRICE UNCERTAINTYPRICE VOLATILITYPRIVATE INVESTMENTPRODUCTIVITYPRODUCTIVITY GROWTHPRODUCTIVITY LOSSESPROPERTY RIGHTSPUBLIC DEBTPUBLIC EMPLOYEESPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC FINANCESPUBLIC FUNDSPUBLIC INVESTMENTPUBLIC INVESTMENTSPUBLIC PROCUREMENTPUBLIC RESOURCESPUBLIC SECTOR DEBTPUBLIC-PRIVATE PARTNERSHIPSRATE OF RETURNREAL EXCHANGE RATEREAL GDPREAL INTERESTREAL INTEREST RATEREAL INTEREST RATESREGULATORY AUTHORITIESRESERVERESERVESRETAIL PRICESRETURNRETURNSSALESALESSAVINGSSENIORSOCIAL SECURITYSTRUCTURAL REFORMSSUPPORT PROGRAMSUPPORT PROGRAMSTARIFF BANDTAXTAX ADMINISTRATIONTAX ADMINISTRATION REFORMSTAX COLLECTIONTAX POLICYTAX RELIEFTAX REVENUESTAXATIONTOTAL FACTOR PRODUCTIVITYTRADE POLICYTRADE REFORMSTRANSACTIONTRANSACTIONS COSTSTRANSPARENCYUNEMPLOYEDWEALTHWITHDRAWALWORTHYOUNGER PEOPLEWorld Bank10.1596/7825