Nigeria - Analyzing Employment and Growth for Better Economic Policy (English)

This Results Profile talks about analyzing employment and growth for better economic policy in Nigeria. Nigeria’s economy has relied disproportionately on oil revenue, which made the country vulnerable to global price fluctuations. In collaboration with...  See More + This Results Profile talks about analyzing employment and growth for better economic policy in Nigeria. Nigeria’s economy has relied disproportionately on oil revenue, which made the country vulnerable to global price fluctuations. In collaboration with International Development Association (IDA), the Nigerian government launched an employment and growth study in 2008 to assess the impact of strong growth performance on employment and to accelerate Nigeria’s job creation and growth. The study prepared by World Bank Group economists and consultants revealed that Nigeria’s growth performance has not responded to the employment aspirations of its population as a whole, especially the younger generation. While jobs seemed to have grown in proportion with the labor force, most were created in family agriculture. Whereas this led to income growth and declining rates of rural poverty, wage employment had actually declined. The study had found that import bans had adversely impacted on Nigeria’s competitiveness and contributed to port congestion and customs inefficiencies, while not meeting their stated objective of protecting key domestic industries. World Bank Group and the Nigerian government planned to focus on the need for more public-private partnerships to overcome binding constraints to growth, and the development of a coordinated approach to skills development, and a gradual liberalizations of the trade policy. As a result, Nigeria has grown additional sectors of its economy to diversify, spread the wealth, and insulate itself from booms and busts.  See Less -

Document also available in : French, Spanish