Nigeria’s macroeconomic crisis explained
Nigeria confronts a prolonged period of adjustment. For more than a generation, the oil sector generated large volumes of foreign exchange. However, with the recent bust in global oil prices and the resumed restiveness in the oil rich Niger-Delta region since 2014, Nigeria was thrust into macroecono...
| Autores principales: | , , , , , , |
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| Formato: | Artículo preliminar |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2018
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/145481 |
| _version_ | 1855526128597336064 |
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| author | Arndt, Channing Chuku, Chuku Adeniran, Adedeji Adetutu, Morakinyo Ajayl, Victor Mavrotas, George Onyekwena, Chukwuka |
| author_browse | Adeniran, Adedeji Adetutu, Morakinyo Ajayl, Victor Arndt, Channing Chuku, Chuku Mavrotas, George Onyekwena, Chukwuka |
| author_facet | Arndt, Channing Chuku, Chuku Adeniran, Adedeji Adetutu, Morakinyo Ajayl, Victor Mavrotas, George Onyekwena, Chukwuka |
| author_sort | Arndt, Channing |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Nigeria confronts a prolonged period of adjustment. For more than a generation, the oil sector generated large volumes of foreign exchange. However, with the recent bust in global oil prices and the resumed restiveness in the oil rich Niger-Delta region since 2014, Nigeria was thrust into macroeconomic crisis. Four years on, we argue that policymakers effectively responded to the dual shocks mainly through import compression. However, the scope for continued import compression is now distinctly limited. For Nigeria to grow and prosper, the long-discussed diversification of the export base must occur via rapid expansion of non-oil exports. |
| format | Artículo preliminar |
| id | CGSpace145481 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | International Food Policy Research Institute |
| publisherStr | International Food Policy Research Institute |
| record_format | dspace |
| spelling | CGSpace1454812025-11-06T06:18:39Z Nigeria’s macroeconomic crisis explained Arndt, Channing Chuku, Chuku Adeniran, Adedeji Adetutu, Morakinyo Ajayl, Victor Mavrotas, George Onyekwena, Chukwuka export controls economic development macroeconomics oil oil and gas industry exchange rate prices international trade Nigeria confronts a prolonged period of adjustment. For more than a generation, the oil sector generated large volumes of foreign exchange. However, with the recent bust in global oil prices and the resumed restiveness in the oil rich Niger-Delta region since 2014, Nigeria was thrust into macroeconomic crisis. Four years on, we argue that policymakers effectively responded to the dual shocks mainly through import compression. However, the scope for continued import compression is now distinctly limited. For Nigeria to grow and prosper, the long-discussed diversification of the export base must occur via rapid expansion of non-oil exports. 2018-09-06 2024-06-21T09:04:33Z 2024-06-21T09:04:33Z Working Paper https://hdl.handle.net/10568/145481 en Open Access application/pdf International Food Policy Research Institute Arndt, Channing; Chuku, Chuku; Adeniran, Adedeji; Adetutu, Morakinyo; Ajayl, Victor; Mavrotas, George; and Onyekwena, Chukwuka. 2018. Nigeria’s macroeconomic crisis explained. NSSP Working Paper 52. Washington, DC: International Food Policy Research Institute (IFPRI). https://hdl.handle.net/10568/145481 |
| spellingShingle | export controls economic development macroeconomics oil oil and gas industry exchange rate prices international trade Arndt, Channing Chuku, Chuku Adeniran, Adedeji Adetutu, Morakinyo Ajayl, Victor Mavrotas, George Onyekwena, Chukwuka Nigeria’s macroeconomic crisis explained |
| title | Nigeria’s macroeconomic crisis explained |
| title_full | Nigeria’s macroeconomic crisis explained |
| title_fullStr | Nigeria’s macroeconomic crisis explained |
| title_full_unstemmed | Nigeria’s macroeconomic crisis explained |
| title_short | Nigeria’s macroeconomic crisis explained |
| title_sort | nigeria s macroeconomic crisis explained |
| topic | export controls economic development macroeconomics oil oil and gas industry exchange rate prices international trade |
| url | https://hdl.handle.net/10568/145481 |
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