Nigeria is one of the largest economies in Africa, with a GDP of $414 billion, ranking it 31st in the world (CIA World Factbook, 2012). Nigeria also has tremendous human capital with 170 million people, the 7th-highest in the world. Despite the wealth that comes to the country from its oil reserves, economic growth in Nigeria is hampered by both corruption and a dearth of infrastructure. There are many areas where the infrastructure can be improved. For a business investor, the areas that will make the best investment are those where a return on investment can be realized.
The first such investment would be in power grids. The country's production is 70th in the world, much lower than its GDP, indicating some level of underdevelopment. Adeninkinju (2005) notes that power outages cost Nigerian businesses in 1990 was 1 billion nairas. In addition, many businesses are forced in invest in generators in order to ensure a consistent power supply. This raises the start-up costs for business, a significant barrier in a country where the GDP per capita is only $2,600. Thus, there is significant economic benefit to a limited private power grid serving customers who are willing to pay for more reliable power without the use of generators.
The power system is run by the Power Holding Company of Nigeria and the government controls local distribution companies as well. Given the demand...
Yet, Kay Weller speaks of geography as "concerned with spatial differentiation," which is to say that anyone who is going to understand the problem from a geographical perspective must look at Nigeria's human geography -- in other words, Nigeria's regions. Weller goes on to state that "ethnic geography is important to an overall understanding of Nigerian human geography. One definition of an ethnic group is that of a group of
Entrepreneurs in Nigeria The Role of Entrepreneurs in Nigeria's Past and Continuing Development The Role of Entrepreneurs in Nigeria's Past and Continuing Development Entrepreneurship has long been regarded as a practice in which an owner or manager of a business enterprise makes money through taking risks and further taking initiative (Deakins and Freel, 2009, p.4). Traditionally, entrepreneurs have been seen as individuals who are willing to launch a new venture or enterprise and
Nigeria: A Country Report As a federal republic in West Africa, the country of Nigeria, formerly a British dependency, became an independent member of the Commonwealth of Nations in 1960. In 1961, Nigeria became part of the British Cameroons, a trust territory of the United Nations. In 1963, Nigeria adopted a republican constitution, yet it retained its membership in the Commonwealth. By far the most populous country in Africa, the population estimates
Developing Countries Production Oil in Nigeria Nigeria is located in West Africa and its borders are shared in the west by Republic of Benin, in the east Chad and Cameroon and in the North Chad. There are over 500 ethnic groups in the country but the three largest are Yoruba, Igbo and Hausa. In Africa Nigeria has the highest population and in the world it is ranked seventh most populous country. Nigeria
Performance of state owned enterprises in Nigeria reflects the necessity of studying this issue. It seems that in most countries, the performance in public management is more difficult to evaluate in comparison with the private sector. This is because in the case of private companies performance is reflected in their sales volume, in their incomes level, in their production ability, and other indicators. But public entities do not produce, sell,
Telecommunication Privatization in Nigeria Definition of Privatization Privatization is the process by which an entity is made privately owned thus the ownership is no more public. The debate of public and private goods and ownership is old. The privatization of goods and entities is considered quite more efficient the reason is that the private goods are owned by people that know that earnings will increase as more effort and struggle will
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