eBook

An assessment of the investment climate in Nigeria

Mousley, Peter, Iarossi, Giuseppe, Radwan, Ismail

2009

Overview

Nigeria's Vision 2020 has expressed a bold desire for the country to be among the world's top 20 economies by the year 2020. The economy has posted impressive growth figures since 2003, driven by higher oil revenues and a series of home-grown economic reforms. The country is now firmly on the road to middle-income status. But what else do government and the private sector need to do to create the jobs and growth that will underpin the national development strategy? What are the challenges that Nigeria's businesses face today? 'An Assessment of the Investment Climate in Nigeria' provides answers to these questions. Based on a survey of 2,300 companies, it provides evidence-based recommendations designed to support Vision 2020 and the president's seven-point agenda. The authors find that government must move quickly to create jobs and reduce poverty. Key challenges include a desperate shortage of energy and a poor transportation network, as well as low levels of education and continuing unrest in the Niger delta. In addition, Nigeria's workers need to become more productive in order to compete in a globalized economy. As a matter of fact, they are less productive than workers in more dynamic countries, such as Brazil, China, and Kenya. Improving productivity will require simultaneous efforts to foster competition, improve specific aspects of the business environment, and facilitate better management and training within individual firms. In addition to the issues of productivity, Nigeria's best firms have not been able to expand their market share. Consequently, policy makers need to address and elimate obstacles to competition, including barriers to entry, convoluted taxation, property registration, and licensing.

• Publisher: World Bank,World Bank Publications,The World Bank
• Subject: ACCESS TO BANK / ACCESS TO BANKS / ACCESS TO CREDIT / ACCESS TO FINANCE / ACCESS TO FORMAL CREDIT / ACCESS TO LOANS / ACCOUNTING / ACCOUNTS RECEIVABLE / ADVANCED ECONOMIES / ANGEL INVESTORS / ANNUAL INTEREST RATE / APPLICATION PROCEDURES / APPLICATION PROCESS / Arbeitskosten / Arbeitsmarkt / ASSET BASE / ASSET QUALITY / AUDITING / AVERAGE INTEREST / AVERAGE INTEREST RATES / AVERAGE WAGE / BALANCE SHEETS / BANK BORROWING / BANK FINANCING / BANK INTEREST RATES / BANK LOANS / BANKING PRACTICES / BANKING SECTOR / BANKING SUPERVISION / BANKS / BARRIERS TO ENTRY / BORROWING / BOTTLENECKS / BRIBES / BUSINESS CLIMATE / BUSINESS CLIMATES / BUSINESS OWNER / BUSINESS OWNERS / CAPITAL ADEQUACY / CAPITAL ADEQUACY RATIOS / CAPITAL BASE / CAPITAL MARKET / CAPITAL MARKETS / CAPITAL REQUIREMENTS / CAR / CARS / CASH FLOW / CENTRAL BANK / COLLATERAL / COLLATERAL FOR LOANS / COLLATERAL REQUIREMENTS / COLLECTION PROCESS / COMMODITY / CONSOLIDATION / CONSOLIDATION PROCESS / CONTRIBUTION / CONTRIBUTIONS / CORPORATE GOVERNANCE / CORRUPTION / CREDIT CULTURE / CREDIT SOURCE / CREDITS / CUSTOMS CLEARANCE / CUSTOMS CLEARANCES / DEBT / DEPOSIT / DEVELOPMENT BANK / DIRECT INVESTMENT / Direktinvestition / DOMESTIC CAPITAL / DOMESTIC CAPITAL MARKETS / DOMESTIC CREDIT / DRIVERS / EARNINGS / ECONOMIC EMPOWERMENT / ECONOMIC REFORMS / EDUCATION LEVEL / EMPLOYEE / EMPLOYER / ENTREPRENEURIALISM / ENTREPRENEURSHIP / EXPENDITURE / EXTERNAL FINANCING / FEMALE ENTREPRENEURS / FINANCE ACCESS / FINANCES / FINANCIAL CAPACITY / FINANCIAL INSTITUTIONS / FINANCIAL MANAGEMENT / FINANCIAL MANAGEMENT TRAINING / FINANCIAL NEEDS / FINANCIAL RESOURCES / FINANCIAL SECTOR / FINANCIAL SUPPORT / FINANCIAL SYSTEM / FIRM PERFORMANCE / FIXED ASSETS / FOREIGN DIRECT INVESTMENT / FOREIGN FIRMS / FORMAL FINANCIAL SECTOR / FORMAL SOURCES OF CREDIT / GENDER / GENDER DIFFERENCES / Geschlechterrolle/Geschlechterverhältnis / GOVERNMENT OWNERSHIP / GREATER ACCESS / HEAVY RELIANCE / HIGH INTEREST RATES / HUMAN RESOURCE / IMPORT LICENSE / INCOME / INCOMES / INDIRECT COST / INDIRECT COSTS / INFLATION / Infrastruktur / INSTITUTIONAL REFORMS / INTEREST RATE / INTEREST RATES / INTERNAL FUNDS / INTERNATIONAL BANK / INVENTORIES / Investition / Investitionsklima / INVESTMENT CLIMATE / INVESTMENT CLIMATE ASSESSMENT / INVESTMENT CLIMATES / Investments / Investments -- Nigeria / JOB CREATION / Korruption / Kriminalität / LABOR COSTS / LABOR MARKET / LACK OF ACCESS / LACK OF TRANSPARENCY / LAND OWNERSHIP / LARGE FIRM / LARGE FIRMS / LEVEL OF DEBT / LEVEL OF EDUCATION / LIMITED ACCESS / LIMITED ACCESS TO FINANCE / LINE OF CREDIT / LINES OF CREDIT / LOAN / LOAN APPLICATION / LOAN APPLICATION PROCEDURES / LOAN APPLICATIONS / LOAN MARKETS / LOAN OFFICERS / LOAN PORTFOLIO / LONG-TERM FINANCE / MACROECONOMIC ENVIRONMENT / Management (funktional) / MARGINAL RATE / MARKET SHARE / MATURITIES / MATURITY / MICRO ENTERPRISES / NEW ENTRANTS / Nigeria / NONPERFORMING LOANS / NPL / OIL PRICES / OVERDRAFT / OVERDRAFTS / PERSONAL ASSETS / POLICY RESPONSE / POLITICAL SCIENCE / POOR INVESTMENT / PROBLEMS WITH CREDIT / PRODUCTIVITY / PROFITABILITY / PUBLIC FINANCES / PURCHASES / QUESTIONNAIRE / REAL INTEREST / REAL INTEREST RATE / RETAINED EARNINGS / ROAD / ROAD TRANSPORT / ROADS / RULE OF LAW / SALES / SHORT-TERM FINANCE / SHORT-TERM FINANCING / SMALLER FIRMS / SOURCES OF CREDIT / SOURCES OF FINANCE / SUBSIDIARY / TAX / TAX ADMINISTRATION / TAX RATE / TAX RATES / TAXATION / TELECOMMUNICATIONS / TOTAL COMPENSATION / TRADE CREDIT / TRADING / TRANSIT / TRANSPARENCY / TRANSPORT / TRANSPORT EFFICIENCY / TRANSPORTATION / TRANSPORTATION NETWORK / TRANSPORTATION PROBLEMS / UNACCEPTABLE COLLATERAL / UNEMPLOYED / UNEMPLOYMENT / UNSKILLED WORKERS / Unternehmensfinanzierung / Unternehmenspolitik / VALUE OF COLLATERAL / VENTURE CAPITAL / VENTURE CAPITALISTS / WAGES / Wirtschaftliche Rahmenbedingungen / Wirtschaftsunternehmen / WOMEN ENTREPRENEURS / WORKING CAPITAL
• ISBN: 0821377973, 9780821377970, 9780821378113, 0821378112