The paper examines the source of financial market fragmentation in sub-Saharan Africa in the framework of institutional economics. Based on fieldwork data from Ghana, Malawi, Nigeria, and Tanzania, it analyses financial risk management, the transaction costs for loan screening and monitoring, and contract enforcement. It shows how, faced with various institutional constraints, the range of clientele selected by formal and informal lenders becomes both narrow and at the extreme market-ends. It evaluates the prevailing state of managing risks for market structure, and binding institutional constraints for market transformation and deepening in sub-Saharan Africa.
Nigeria is governed by a federal system, hence its fiscal operations also adhere to the same principle, a fact which has serious implications on how the tax system is managed. The country's tax system is lopsided, and dominated by oil revenue. It is also characterized by unnecessarily complex, distortionary and largely inequitable taxation laws that have limited application in the informal sector that dominates the economy. The primary objective of this paper is to prepare a case study on tax policy reforms in Nigeria, with the specific objectives of examining the main tax reforms in the country; highlighting tax revenue profile and composition; analysing possible distributional impacts on the poor; discussing major problems that could prevent effective tax implementation in the country; and offering suggestions for reforms.
Topic:
Development, Economics, and International Trade and Finance
Nigeria currently faces a three-pronged crisis involving Muslim-Christian relations, the Niger Delta region, and presidential term limits. The United States Institute of Peace (USIP) held a public workshop in March 2006 for the purpose of assessing the situation in Nigeria and considering ways in which the international community might respond.
Topic:
Conflict Resolution, International Relations, and Religion
Intense domestic pressure has convinced Nigeria's President, Olusegun Obasanjo, to consider a deal that would eliminate the country's $31 billion of debt owed to the governments of the United Kingdom, France, and other aid-giving countries.
Topic:
International Relations, Debt, and Economics
Political Geography:
Africa, United Kingdom, Paris, France, and Nigeria
Intense domestic pressure has convinced Nigerian President Olusegun Obasanjo to seek a deal that would eliminate the country's $31 billion of debt owed to the governments of the U.K., France, and other aid-giving countries that use the Paris Club process to restructure debt that countries cannot repay. The Paris Club creditors have proposed an unprecedented operation—its first-ever buyback at a discount—that would cancel all of Nigeria's debt to them in exchange for a cash payment of roughly $12 billion.
Topic:
Conflict Resolution, International Relations, and Debt
Political Geography:
Africa, United Kingdom, Paris, France, and Nigeria
Imagine a nation almost half the size of the United States where large portions of the population are sick—not with just one disease but several at once. Such is the daily reality for those living in Nigeria, a nation with one of the highest burdens of disease in Africa.
Topic:
Government, Human Rights, Human Welfare, and Peace Studies
An understanding of religious fundamentalism as a source of conflict in the Middle East is significantly furthered by examining "asymmetrical threats" in other areas. This article suggests that a particular form of asymmetrical conflict ("Marginalized Violent Internal Conflict"[MVIC]) was proliferating well before September 11, 2001, and that examples appeared in Mexico and Egypt, as well as possibly in Nigeria, Chile and the Philippines. Arguing that the "War on Terrorism" may be the result of MVIC having been raised to the level of Marginalized Violent International Conflict, the author examines policy implications raised by the goal of global security.
Topic:
War
Political Geography:
Middle East, Philippines, Egypt, Mexico, Nigeria, and Chile
The Niger Delta, an area of dense mangrove rainforest in the southern tip of Nigeria, comprises nine of Nigeria's thirty-six states: Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers. The region's oil accounts for approximately 90 percent of the value of Nigeria's exports, but the Niger Delta remains one of Nigeria's least developed regions.
The New Partnership for Africa's Development or Nepad has been enthusiastically pushed by a select number of countries in Africa, as well as by the G-8, as a means to stimulate what has been termed the "African Renaissance" (see www.uneca.org/nepad/nepad.pdf). Nepad was launched in Abuja, Nigeria, in October 2001; it arose from the mandate granted to five African heads of state (Algeria, Egypt, Nigeria, Senegal, South Africa) by the then Organization of African Unity (OAU) to work out a development program to spearhead Africa's renewal.
Topic:
International Relations, Development, and International Organization
This paper examines the impact of income risk on the level of well-being of rural households in Nigeria. While income risk is defined as the risks associated with variability in income well-being is defined in terms of the level of utility reached by a given individual. This level is a function of goods and services that the individual consumes. The study is based on primary data collected from a sample of 285 households in Ekiti State, Nigeria. Analysis of the data revealed that household heads' age, years of formal education, household size, size of land cultivated and total expenditure (on food and non-food items) are major determinants of income risks among households in the study area. Also, going by the indices of various social indicators of well-being considered, it was revealed that income risk impacts negatively on the well-being of households in the study area.