NIGERIA Country Description | Cultural * Major Languages: English (Official Language), Hausa, Igbo, Yoruba. * Religion: Christianity and Islam. * Nigeria is a multinational state. It has more than 500 ethnic groups.Administrative. * Nigeria has maintained its political stability successfully. * Three distinct systems of law in Nigeria: Common Law, Customary Law and Sharia law.Geographic * Nigeria is a costal country, so it has access to the shipping routes. * Inadequate infrastructures
Words: 3027 - Pages: 13
ABSTRACT Nigeria is an oil rich country, as a matter of fact the sixth largest oil producer world over, the 26th largest economy in the world and Africa’s largest economy. Paradoxically, this same resource-rich nation ranks among the five “extremely poor” nations of the world, ranking 153rd with a Human Capital Development Index of 0.471 according to UNDP in 2013. Of course this does not portend economic development. What is however, not surprising is Transparency Internationals’ Corruption Perception
Words: 5594 - Pages: 23
study of accountancy in Africa, Nigeria is important for several reasons. Nigeria, the most populous country in Africa, has crude oil as her main export and she has remained a rentier state in terms of revenue generation. The need for legal regulations for exercising accounting profession came to reality on September 1, 1965 by the enactment of the Institute of Chartered Accountants of Nigeria Act (ICAN). Some decades later the Association of National Accountants of Nigeria was established by law. For
Words: 1697 - Pages: 7
Democracy And Development In The Case Of Nigeria The West African region is a place where vast natural resources exist. It was a region where Colonial powers sought to get raw materials to feed their growing demand for industrialization. The Federal Republic of Nigeria was amongst these colonized states that The British Colonial power took advantage of. The British ruled Colonial Nigeria for 45 years, before handing over power on October 1, 1960. But, much like the aftermath of many other successful
Words: 1293 - Pages: 6
psychological, social relations among others. Development as a concept is multi-dimensional phenomenon that embraces economics, political and socio-cultural aspect of a nation. When the political, social and economic conditions of a state are in good shape, that state qualifies to be termed developed or developing state. 3.2 NATIONAL DEVELOPMENT STRATEGIES, NEED AND ECONOMIC DEVELOPMENT. The national development strategy is a means, way, and plan in which the government formulates and implements
Words: 4660 - Pages: 19
ENERGY POLICY AND CONSERVATION IN NIGERIA: IMPLICATIONS FOR RURAL DEVELOPMENT BY O.ADEGBUYI AND O.O. FASORANTI (PhD) ABSTRACT To impact visible advances in rural communities in Nigeria for achieving meaningful economic goals, the effective policy of energy usage as a vessel for the acquisition and utilization of required technologies to develop and recover the present depreciating national economy associated with poor food production must be focussed strategically
Words: 3478 - Pages: 14
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Nigeria banking sector has experienced a boom-and-burst cycle in the past 20-25 years. After the implementation of the structural adjustment programme (SAP) in 1986 and de-regulation of the financial sector, new banks proliferated mainly driven by attractive arbitrage opportunities in the foreign exchange market (Heiko 2007), but prior to the de-regulation period, financial intermediation never took off and even declined in the1980’s and 1990’s
Words: 9356 - Pages: 38
European Journal of Economics, Finance and Administrative Sciences ISSN 1450-2887 Issue 17 (2009) © EuroJournals, Inc. 2009 http://www.eurojournals.com A Synthesis of the Critical Factors Affecting Performance of the Nigerian Banking System Godwin Chigozie Okpara Department of Banking and Finance, Abia State University, Uturu E-mail godgozie@yahoo.com Abstract This paper is set out to determine the factors impacting most on the performance of the banking system in Nigeria. To do this, factor
Words: 5506 - Pages: 23
CORRUPTION AND LOCAL GOVERNMENT ADMINISTRATION IN NIGERIA: Introduction Nigeria is rich in natural and human resources, with a population of over 150 million people; the most populous country in Africa. At the time of her political Independence, on 1st October 1960, Nigeria excelled in production of agricultural produce such as groundnut, palm oil, cocoa, cotton, beans, timber and hides and skins. Then, during the oil boom period of the seventies Nigeria made headlines with her oil wealth, as a country
Words: 2922 - Pages: 12
“Integrity: Panacea for Socio-Economic and Political Challenges in Nigeria” Nigeria is a nation blessed with vast human and mineral resources. Ironically, her economy is struggling to leverage the country’s vast wealth to displace the economic and political challenges that affects its population.1 Beyond the recent impressive financial projections, a good number of Nigerians still live on less than $1.00 (One dollar) a day, which is about N160.00 (One Hundred and Sixty Naira), and more Nigerians
Words: 3555 - Pages: 15
