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Trending a New Normal: Is Nigeria becoming a failed Nation?

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  • Emmanuel Olusegun Stober

Abstract

Judging from every economic parameter, Nigeria will suggest being a failed nation. Not so long ago international investors identified Nigeria as one of the world’s most promising investment opportunities, but things have changed drastically in the meantime. The slump in the price of crude oil has hit Nigerian economy hard, the twin curses of insecurity and corruption have not gone away either. The Nigerian currency - naira has also lost its value by 170% from its value in 2015. The question most analysts and citizens are now asking is if Nigeria will ever fulfil its potential. This study empirically analyses the current economic situation of Nigeria, and gives recommendations on what government should do in getting the country out of recession.

Suggested Citation

  • Emmanuel Olusegun Stober, 2017. "Trending a New Normal: Is Nigeria becoming a failed Nation?," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 20(64), pages 84-96, June.
    • Handle: RePEc:rej:journl:v:20:y:2017:i:64:p:84-96
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    References listed on IDEAS

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    1. Stober Emmanuel Olusegun, 2016. "Romania’s Corruption Barometer: Putting the Public Sector on a Scale," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 19(60), pages 213-236, June.
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      More about this item

      Keywords

      Ease of doing business; recession;

      JEL classification:

      • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
      • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
      • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
      • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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