This blog tackles economic related issues on finance, commerce, people, culture and politics.
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Sunday, November 7, 2010


NBS in there just released statistic on global Economy survey ranking Nigeria’s economy 127, out of 130. Citing the following facts as the bases for the rating.
ð  The strength of our balance sheet which isn’t that strong.
ð  Our external and internal debt ratio whereby 85% of these is loan is external & concessionary.
ð  We are just in the process of citing a sovereign world fund
ð  Depletion in our excess crude oil account
ð  The external resources as fallen.
ð  Capital budget implementation problem.
ð  High unemployment rate in the country where over 60% of the eligible workers are unemployed.
But SMP also released there rating which shows that Nigeria is a stable outlook citing the following facts which if clinically analysis its positive for our nations development.
ð  In the last ten (10) years Nigeria has made the highest growth rating among developing countries.
ð  We have a good dealing on infrastructure which our government have taken it upon itself to develops our economy e.g. Transport, Power, Health & Primary Care, Education etc.
ð  The fact that we are willing to make changes is a stamp & credibility of the government to get it right and empower the Nigerian people e.g. electoral reform, judicial independence and war on corruption etc.
ð  Nigeria as a strong economic growth which is job creation driven.
ð  Removing barriers to credit which is to enable lending, investment and small/medium scale enterprise.
I believe in the current presidency of Dr. Goodluck Ebele Jonathan that after a successful eight(8) years in office Nigeria’s economy will & its overall External Index will rise by over 50%.