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Becoming Nigeria

Birth Nigeria  And pursue her peace Refine Nigeria Excuse and silence impurities Build Nigeria And engineer her change Make Nigeria Excuse and silence indolence Bless Nigeria And fulfill her purpose Grow Nigeria Excuse and silence poverty Breed Nigeria And light her lamp Enlighten Nigeria Excuse and silence mental slavery Be Nigeria And restore her hope Lift Nigeria Excuse and silence mediocrity

Two Sides of a Coin: FDI and Nigeria’s Service-Led Structural Transformation

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By the 2014 rebasing of its GDP, Nigeria became Africa’s largest economy trumping its long time contender, South Africa. Amongst several things, the significant growth implies changes in the sectoral contribution of domestic output and employment. Conventionally, for a developing country context it is expected that international trade, foreign direct investment, industrial policy and global price fluctuations would have contributed to the shifts in the distribution of factors of production and final output. Given the uninclusive nature of the impressive surge in output, it is important to investigate what sectors accounted for the structural change. Using historical data on the Nigerian economy, Oyebanke and I examined (in a forthcoming paper) the contribution of foreign direct investment to structural transformation. Specifically, in the paper we provided answers to the following questions: What are the sources, nature and characteristics of the structural change